Armenian service sector generated revenue of $1.2 billion in first  two months

 Monday, April 8 2024 16:56:00
Armenian service sector generated revenue of $1.2 billion in first  two months

ArmInfo.Service sector of Armenia provided revenue in the amount of 473.1 billion drams in Jan-Feb 2024 ($1.2 billion), slowing down in y-o-y growth from 23.5% to 5.2%. This is evidenced by data from the RA Statistical Committee, according to which in February alone, the service sector showed a decline of 0.3% - to 236.2 billion drams ($584.2 million).

Net inflow of private transfers to Armenia accelerated growth in 9  months of 2021 to 56% per annum
 Sunday, November 7 2021 11:19

ArmInfo.The net inflow of individual transfers to Armenia in January- September 2021 amounted to $ 670.2 million, with an acceleration in y-o-y growth from 28.5% to 56%  (against a pre-COVID 25.6% decline in the same period of 2019),  supported by an almost similar significant increase in net inflow of  remittances from Russia and the United States. This is evidenced by  the data of the RA Central Bank.

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YoY growth rates of Armenia`s industrial sector are declining,  approaching stagnation 
 Friday, November 5 2021 19:59

ArmInfo. For 9 months of 2021, the industrial sector of Armenia slowed down the y-o-y growth rate from 1% to 0.7%, amounting to 1.6 trillion drams ($ 3.1  billion).

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Production of aluminum foil in Armenia decreased by 3.9% in 9 months
 Friday, November 5 2021 18:52

ArmInfo.The production of aluminum foil in Armenia, in January-September 2021 in comparison with the same period in 2020, decreased by 3.9% (against 13.8% growth  a year earlier), with a volume of 25,420 thousand tons. According to  the data of the Statistical Committee of the Republic of Armenia,  2,831 tons of aluminum foil were produced in September alone, with a  decline of 2.4% over the month.

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Armenia`s economic activity increased by 4.4% per annum for 9 months  of 2021
 Monday, October 25 2021 16:08

ArmInfo.In Armenia, economic activity in January-September 2021 showed an increase of 4.4% (against a decline of 6.6% a year earlier), while in the  pre-COVID period an increase of 7.1% was registered (in the same  period of 2019). This is evidenced by the preliminary data of the RA  Statistical Committee.

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Revenue of the trade sector of Armenia for 8 months of 2021 exceeded  $ 4 billion
 Tuesday, October 12 2021 21:02

ArmInfo. According to the results of 8 months, the revenue of the Armenian trade sector reached 7.1% growth (from 11.5% decline a year earlier), reaching 2.1  trillion drams (over $ 4 billion).

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Production of brandy became leader in terms of volume in Armenia`s  alcoholic industry, and whiskey production is leader in terms of  growth rates
 Friday, October 8 2021 15:40

ArmInfo.The alcohol industry in Armenia is steadily increasing production volumes. According to the data of the Statistical Committee of the Republic of Armenia, in  January-August 2021, the largest volume of alcohol produced in the  country falls on the production of brandy. And the highest growth  rates were recorded for the production of whiskey.

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Freight and passenger transportation reaches double-digit growth  in Armenia
 Friday, October 8 2021 14:56

ArmInfo.Cargo transportation in Armenia in January-August 2021 increased by 12.1% per annum (against 4.5% growth in the same period in 2020), amounting to 10,467.1  thousand tons. According to the Statistical Committee of the Republic  of Armenia, the acceleration of the upward dynamics was provoked by  the change from the recession to the growth of cargo transportation  by air and the acceleration of the upward pace of road freight  transportation.

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Telecommunications revenue in Armenia increased by 4.8% in 8 months  of 2021
 Friday, October 8 2021 13:29

ArmInfo.Revenue in the communications sector of Armenia in January-August 2021 in comparison with the same period in 2020 grew by 4.8% (against 4.3% decline a  year earlier), exceeding 95.9 billion drams. This is evidenced by the  data of the RA Statistical Committee.

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Armenia`s metallurgical industry reaches double-digit growth
 Thursday, October 7 2021 17:06

ArmInfo.Metallurgical industry of Armenia in January-August 2021 accelerated y-o-y  production growth from 8.3% to 18.5%. As evidenced by the data of the  Statistical Committee of the Republic of Armenia, the improvement in  dynamics is due to the many-fold increase in the production of  castings from unalloyed (carbon) steel.

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Armenia`s foreign trade with EU countries reaches double-digit growth
 Thursday, October 7 2021 17:02

ArmInfo. Armenia's foreign trade with the EU countries in January- August 2021 grew by 22.8% (from a 21.3% decline a year earlier and a 14.3% decline in the pre-covid  period), amounting to $ 1.01 billion. Armenia's foreign trade with  the EU countries amounted to $ 133.8 million, accelerating the annual  decline from 8.6% to 43.7%

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Armenia`s foreign trade with EAEU countries intensifies at a rapid  pace
 Thursday, October 7 2021 14:52

ArmInfo.Armenia's foreign trade turnover with the EAEU countries in January-August 2021, compared to the same period of 2020, accelerated growth to 11% (from 0.1% a year earlier), exceeding even the pre-COVID growth by 6.7%, and amounting  to $ 1.6 billion. This is evidenced by the final data of the RA  Statistical Committee.

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Armenia reduced production of aluminum foil by 3.9% in 8 months
 Thursday, October 7 2021 14:52

ArmInfo.The production of aluminum foil in Armenia in January-August 2021 compared to the same period in 2020 decreased by 14%, with a volume of 22.589 thousand  tons provided (against 14% growth a year earlier). This is evidenced  by the data of the RA Statistical Committee.

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In Armenia, y-o-y inflation in September 2021 reached 8.9% due to  increase in food prices
 Wednesday, October 6 2021 13:08

ArmInfo.In the consumer market of Armenia in January-September 2021, inflation was recorded at 3.6%, against deflationary 1.4% in the same period of 2020 and 2.1% pre-  COVID deflationary for 9 months of 2019.

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Production of solar energy has increased significantly in Armenia
 Tuesday, October 5 2021 18:54

ArmInfo.In January-August 2021, Armenia generated 5,030.5 million kWh electricity, which is 1.5% less than a year ago (against an increase of 1.9% a year  earlier).  According to the Statistical Committee of the Republic of  Armenia, in August alone, electricity generation decreased by 8.8% -  to 576.4 million kWh.

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Industrial growth is hampered by the decline of the dominant sector,  the manufacturing industry
 Tuesday, October 5 2021 18:25

ArmInfo. The volume of industrial production in Armenia in January-August 2021 amounted to 1.4 trillion drams ($ 2.7 billion), having increased on a y-o-y terms  by 1% alone, repeating the dynamics of the same period in 2020  (0.9%), while significantly yielding to the pre-COVID 9.5% growth. 

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Armenia reduced exports of molybdenum, zinc and copper concentrates
 Friday, September 10 2021 20:31

ArmInfo. In H1 2021, Armenia reduced the export of copper ore by 9.5% per annum (against 17.8% growth a year earlier) - to 240.5 thousand tons. At the same  time, having increased the customs value by 50% - up to $ 421.3  million.

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Armenia increased export of all alcoholic beverages produced in  country
 Friday, September 10 2021 20:31

ArmInfo. The alcohol industry in Armenia has recovered from the coronavirus crisis. The volumes of alcoholic beverages produced and exported have increased  after a prolonged decline during 2020 due to the outbreak of the  coronavirus pandemic.

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Armenia significantly increased volume of exports and imports of  fruit and berry crops
 Friday, September 10 2021 20:29

ArmInfo. In H1 2021, Armenia increased the export of fruit and berry crops by 98.1%  (including apricots, peaches, apples, pears, sweet cherries,  cherries), providing a volume of 21.6 thousand tons.

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Armenia in H1 2021 increased grape exports by 66.7% 
 Friday, September 10 2021 20:29

ArmInfo. Armenia in H1 2021 increased export supplies of grapes by 66.7% per annum to 2.3 thousand tons. The customs value of exported grapes increased by 71%,  amounting to $ 847 thousand. This is evidenced by the data of the RA  Customs Service.

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Armenia significantly reduced sugar imports
 Thursday, September 9 2021 18:58

ArmInfo.In the first half of 2021, Armenia reduced sugar imports by 73.4% (against a decline of 35% a year earlier), supplying 5.6 thousand tons to the market.  According to the data of the Customs Service, the customs value at  the same time decreased by 53.2%, amounting to $ 3.2 million.

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