Wednesday, June 20 2018 13:45

ArmInfo.In Armenia, economic activity in January-May 2018 increased by 8.6% y-o-y at the background of growing rates of import compared to export. In May this year versus May 2017, economic activity increased by 5.4%, and in May 2018 alone increased by 10.4%. A year earlier, in January-May 2017, versus the same period of 2016, economic activity increased by 6.4%, in May compared with May 2015 - by 8.9%, and  in May alone - by 11.7%. 

According to the preliminary data of the National Statistical Service  of  Armenia, the growth in economic activity in January-May 2018  was  mainly ensured by the services sector - by 17.5% y-o-y, the   construction sector - by 17.4% and the trade sector - by 10.2%, while  growth in industrial and agricultural sectors was more moderate-3.3%  and 1.5% respectively. Against this background the energy sector  registered no growth. It is noteworthy that versus the indicators of  the previous year the agriculture and construction sectors  demonstrated increase, construction sector registering sharp growth.  A year earlier, in January- May 2017, the industrial sector, trade,  services, energy complex demonstrated growth- 14.4%, 12.8%, 11% and  4.6% y-o-y, respectively, and the agricultural sector  and the  construction sector demonstrated decline - 3.5%  and 12.1%  respectively per annum.  The industrial production price index  increased by 3.5% in January-May 2018 versus the same period of the  previous year, and grew by 2.1% in May 2018 compared to May 2017. In  May 2018 alone it declined by 1.2%.  A year earlier, in January-May  2017, in comparison with the same period in 2016, the industrial  production price index  increased by 3.5%, in May 2017, compared to  May 2016 - by 4.7%, and in May 2017 alone increased by 0.2% .  In  monthly terms (in May) the economic activity grew due to construction  sector (42.4% growth versus 50% growth in May 2017), the agricultural  sector (by 41.9% against 47.1% a year earlier), industrial sector  ranks next with more moderate rates (13.3% growth versus 12.7% growth  in May 2017), trade (12.1% versus 6.6% in May 2017) and service  sector (6.5% against 9.5% growth a  year earlier). Energy sector  registered 2.3% growth in May 2018 versus 2.9% decline in May 2017. 

In May 2018 versus May 2017 in terms of growth rates, the service  sector was leading with 17%, construction and trade registered 8.8%  growth both, at this background energy and agriculture had  insignificant growth-1.8% and 0.1% respectively. The Industrial  sector demonstrated decline by 3.1%, while the rate in previous year  was high and even leading. A year earlier, in May 2017 against May  2016, the growth rates were more moderate: industrial sector was  leading- 20%, followed by trade-15%, services-14.3% and energy  sector-5.6%, while agriculture and construction fields registered  decline-4.8% and 9.3% respectively. 

According to statistical data in January-May 2018, the trade sector  held the absolute leading position with the volume of 1.02 billion   AMD ($ 2.1 billion). The industrial sector held the second place  658.2  billion ($ 1.4 billion), services were the third - 626.7  billion drams  ($ 1.3 billion), agriculture-the fourth -180.3 billion  drams ($  374.1 million), and the construction sector was the  fifth-93.7 billion AMD ($ 194.4 million). The volume of electricity  generated in January-May 2018 was 3237.7 million kWh, of which 570.7  million kWh in may alone.

At the same time, Armenia's foreign trade turnover in January-May  2018 was 1351.4 billion AMD ($ 2804.1 million), with annual growth of  32.4%. In its structure, the volume of exports has undergone annual  growth of 24.1% to 450.8 billion AMD ($ 935.6 million), and imports -   an annual growth of 37% to 900.6 billion AMD ($ 1868.5 million).  In  May 2018 alone, foreign trade turnover increased by 6.2%, due to  the  growth in imports - by 11.8% and decline in exports - by 5%, and  compared  to May 2017, foreign trade turnover increased by 27.9%,  mainly due to the growth of imports by 32.8% with an increase in  exports by  17.6%. A year earlier, in January-May 2017, Armenia's  foreign trade turnover grew by 23.1% per annum, in particular,  exports - by 20.9% and imports - by 24.4%, in May 2017 alone the  growth in foreign  trade turnover by 35% was conditioned by growth of  imports - 45% and 18.3% growth in  exports, compared with May 2016  trade turnover grew by 53.4% due to raise in both imports and  exports- 61.7% and 38.7% respectively.

The average calculated exchange rate of AMD was 484.09 AMD / $ in   May, 2018, and 481.92 AMD / $ 1 in January-May, compared to  483.42  AMD / $ 1 in May 2017 and 485.18 AMD / $ 1 in January -May  2017.