Tuesday, January 31 2012 16:02
Economic activity of Armenia up 6.1% in 2011
ArmInfo. Economic activity of Armenia was up 6.1% for Jan-Dec 2011. As compared to the same period of 2010, economic activity grew 5.9% and for Dec alone - 15%. Economic activity grew in Armenia first of all due to 25.4% growth of the electric power generation. In addition, construction sector grew 16.3%, industrial sector- 16%, consumer prices rose 4.7%. In Jan-Dec 2011 as compared to the period of 2010 the highest growth was registered in the energy sector - 14.5%. Industrial and agricultural sectors grew 14.1% each. For December versus November trade sector grew 59%, with construction sector growing 11.5%.
The National Statistical Service of Armenia reports gross agricultural produce for Jan-Dec 2011 totaled 825.2 bln drams ($2.2 bln), for Dec the growth totaled 9.7% and for Jan-Dec - 2.3%. Industrial produce totaled 992.1 bln drams in 2011 ($2.7 bln), with 7.2% growth for December. Power generation totaled 7,432.7 mln kWh. Services to the population totaled 872.4 bln drams ($2.3 bln), with 6.1% growth versus Jan-Dec 2010. This indicator grew 8.7% for Jan-Dec 2011. The growth in the trade sector for Jan-Dec 2011 versus the same period of 2010 totaled 3.5% (up to 2 trillion drams or $5.5 bln). The growth for Jan-Dec 2011 was 6.7%. The construction sector totaled 480.8 bln drams for 2011 ($1.3 bln).
Average nominal salary for 2011 grew 5.5% to 115.265 drams (almost $300), with the growth for December bring 26.6%. for Jan-Dec 2011 versus Jan-Dec 2010 - 5.9%. Inflation for Jan-Dec 2011 versus the same period of 2010 totaled 7.7%. In December 2011 versus December 2010 inflation totaled 4.7%. while in December alone it made up 2.5%.
Foreign turnover was down 1.3% for Jan-Dec 2011 to 2,044.2 bln drams ($5481 mln), with 14.4% growth versus Jan-Dec 2010 and 3.7% growth for Dec alone. In the structure of foreign turnover, export grew 2.1% for Jan-Dec 2011 to 495.8 bln drams ($1329.5 mln), amid 27.7% growth versus 2010 and 1% decline for Dec alone. Import fell 2.3% for Jan-Dec 2011 to 1.548.4 bln drams ($4151.5 mln) with 10.7% growth versus 2010 and 5.2% growth for Dec alone.
The exchange rate of the Armenian dram and US dollar averaged 383.22AMD/1 USD for Dec 2011 and 372.5AMD/1 USS for Jan-Dec 2011.
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