ArmInfo.In Armenia, the economic activity in January-February 2019 compared to the same period of 2017 increased by 6.5%, against last year's 8.6% growth. According to preliminary data of the National Statistical Service of the Republic of Armenia, the annual growth was provoked to a greater extent by the construction sector and the services sector. Only in February 2019, economic activity increased by 9.3%, and compared with February 2018 - by 7.6%, against last year's rising 7.2% in February and 7.3% compared to February 2017.
According to statistical data, in January-February 2019, the volume of the construction industry increased by 21.6% per annum, the services sector - by 17.5%, the trade sector - by 13.1%, against last year's upward trend, respectively, by 22.7%, 15, 1% and 17.4%. Against this background, the industrial sector has shown too modest growth - by 1.9%, against last year's 8.3% growth. The power complex in January-February 2019 turned towards a 21% decline from last year's 3.5% growth. Data on the agricultural sector from 2019 will be published only quarterly, in connection with which they are not available in the February report, but we note that a year earlier, in the same period, a decline of 0.1% was recorded.In annual terms (February 2019 by February 2018), the highest growth was also in the construction and service sectors - 21.3% and 19.3%, respectively, against last year's positive 25.1% and 15.4%. After them, the trade and industrial sectors held upward in the upward trend - 8.3% and 4.7%, respectively, against last year's plus of 17.6% and 3.3%.
The power complex was delayed in a recession with an acceleration of downward rates to 14.5% from last year's 0.5%. There is no data on the agricultural sector, and a year earlier in the same period, an increase of 0.2% was recorded.The price index of industrial products declined in January-February 2019 by 1%, with an annual growth of 0.6%, against growth in January-February 2018 by 4.4%, with an annual growth of 3.6%.In January-February 2019, in absolute terms, the leadership is retained by the trade sector with a volume of 412.1 billion drams ($ 845.9 million). The service sector ranks second in terms of services - 268.4 billion drams ($ 551.1 million), the third place is occupied by the industrial sector - 262.9 billion ($ 539.7 million). This is followed by the construction sector - 25.1 billion drams ($ 51.6 million). There is no data from the agricultural sector, which traditionally occupies the fourth position. The volume of electricity generation in January-February 2019, 1186.7 million kWh, of which 574.6 million kWh. came in February.At the same time, the foreign trade turnover of Armenia in January-February 2019 amounted to 492.8 billion drams ($ 1011.9 million) with an annual decline of 7.7%. In its structure, the volume of exports has undergone an annual decline of 11.6% to 164.5 billion drams ($ 337.9 million), and imports - an annual decline of 5.6% to 328.3 billion drams ($ 674 million). Only in February 2019, foreign trade turnover increased by 28% due to the growth of imports by 25.8% and exports by 32.6%, and in comparison with February 2018, a drop in exports by 8.2% and imports by 2.5% provoked a decline foreign trade turnover by 4.6%. A year earlier, in January-February 2018, foreign trade turnover underwent an annual growth of 43.2% due to growth in exports by 41% and imports by 44.4%, and only in February 2018 exports and imports grew by 19% and 16.3% respectively, led to an increase in foreign trade turnover by 17.2%.
The average settlement rate of dram in January-February 2019 was 487.10 others / $ 1, and in February 2019 it was 488.41 others / $ 1, against 481.88 others / $ 1 - in January-February 2018 and 481.37 others / $ 1 - in February 2018 It should be noted that the World Bank predicts GDP growth in Armenia in 2019 by 4.3% with an acceleration of the pace in 2020 to 4.6%. In the state budget of the Republic of Armenia for 2019, GDP growth of 4.9% is laid. As regards Armenia's foreign trade, the WB forecasts an 8.8% increase in exports in 2019, with an acceleration of rates in 2020 to 9.4%, and an increase in imports in 2019 by 12.2% with a slowdown in rates to 11.4%. Recall that the Statistical Committee of the Republic of Armenia since 2019 stopped publishing monthly data on the agricultural sector, guided by sub-clause 3.1.2. "Agriculture Statistics" of the Compendium of Statistical Requirements of Eurostat, according to which the EU member states publish statistics on the agricultural sector with an annual frequency. From now on, statistics on the agricultural sector of Armenia will be published only quarterly.