ArmInfo. Armenian GDP grew by 7.5% in 2017 to 5.580 trillion drams ($ 11.6 billion). A year earlier, in 2016, GDP growth slowed to 0.2% from 3.2% in 2015. As the data of the National Statistical Service of Armenia testify, the GDP deflator index in 2017 was 102.2%, against 100.5% in 2016 and 101.2% in 2015.
Economic growth in 2017 was supported by the services sector - by 14.4% per annum, trade - by 14% and the industrial sector - by 12.6%, against growth of 7.1%, 0.1% and 6.7%, respectively, a year earlier . A relatively modest growth was also ensured by the energy complex and the construction sector - 6.1% and 2.2%, which recorded a decline of 6.2% and 10.8% a year earlier. Against this background, the agricultural sector, delayed in the recession, only slowed down to 3% from 5.2% in 2016.
According to statistics in 2017, in absolute terms leadership is held by the trade sector with a volume of 2.6 trillion. AMD ($ 5.4 billion). The industrial sector is on the second place with 1.7 trillion ($ 3.4 billion), the third - the service sector - 1.5 trillion AMD ($ 3.01 billion), the fourth - the agricultural sector - 906.8 billion AMD ($ 1.9 billion), and the fifth - the construction sector - 415.9 billion AMD ($ 861.5 million). The volume of electricity generation in January-December 2017 amounted to 7762.9 million kWh, of which 825.5 million kWh. - Only in December.
At the same time, Armenia's foreign trade turnover for 2017 was 3100.4 billion AMD ($ 6,425.6 million) with an annual growth of 26.9%. In its structure, the volume of exports has undergone annual growth of 25.2% to 1082.1 billion AMD ($ 2242.9 million), and imports - annual growth of 27.8% to 2018.3 billion AMD ($ 4,182.7 million). A year earlier, in January-December 2016, foreign trade turnover increased by 7.4% due to growth in exports by 20% and imports by 1.6%. By way of comparison, we note that in January-December 2015 the foreign trade turnover decreased by 20.6% per annum due to a 26.5% drop in imports with a decline in exports of 3.9%.
The average calculated exchange rate for dram totaled 483.18 AMD / $ in December 2017, and 482.72 AMD / $ 1 in January-December, compared to 482.84 AMD / $ 1 in December 2016 and 480.49 AMD / $ 1 in January- December 2016, 482.93 AMD / $ 1 - in December 2015 and 477.92 AMD / $ 1 - in January-December 2015.
Note that updated in January 2018, the World Bank forecast for 2017 indicated the growth of Armenia's GDP by 3.7%, with acceleration in 2018 to 3.8% and in 2019 to 4%. The Central Bank of Armenia previously forecast GDP growth by 4.4-4.9% (an average of 4.6%) in 2017, in early January 2018 revised the GDP growth estimate for 2017 in the direction of acceleration to 6.4%, and the Government of their expectations in 2017, GDP growth was estimated at 5.5-6%, revised at the beginning of 2018 in the direction of 6.7-7.4%. The state budget of the Republic of Armenia for 2017 laid the GDP growth by 3.2%, and by 2018 - 4.5%.
According to National Statistical Service of Armenia, guided by the government's decision of 25.01.2011, publishes monthly economic activity (in%), and publishes a quarterly and annual absolute value of GDP after 60-90 days from the reporting period.
