"Winter sleep" of agrarian sector has a negative effect on economic activity

According to the National Statistical Service of Armenia, the economic activity decline in October was mostly due to the fact that agriculture sagged by 31.8% (up 13.2% versus Oct 2014). Construction dropped by 4.3% (up 0.3% versus Oct 2014), trade fell by 2.2% (down 11.2% versus Oct 2014), energy sector fell by 6.9% (down 10.5% versus Oct 2014). At the same time, services grew by 0.8% (up 5.6% versus Oct 2014) and industry rose by 0.4% (up 3% versus Oct 2014).

 

In Jan-Oct 2015 versus Jan-Oct 2014, agriculture grew by 11.6%, industry - by 4.6%, services - by 2.8%, energy sector - by 2.2% and construction - by 0.1%, with trade falling by 6.4%. In Jan-Oct 2015, the consumer price index made up 99.9%, in October alone - 96.9%, and as compared to October 2014 - 92.8%.

 

In Jan-Oct 2015, trade amounted to 1.8 trillion AMD ($3.8 bln), industry - 1.1 trillion AMD ($2.2 bln), services - 960.1 bln AMD (over $2 bln), agriculture - 857.7 bln AMD ($1.8 bln), construction - 

304.3 bln AMD ($637.7 mln). In Jan- Oct 2015, the electric power output made up 6391.5 mln kWh, including 619.8 mln kWh in October alone. In Jan-Oct 2015, the foreign trade turnover of Armenia totaled 1.8 trillion AMD ($3.9 bln), with a 20.4% yoy decline. Export dropped over year by 2.2% to 583.7 bln AMD ($1.2 bln) and import fell over year by 26.6% to 1.3 trillion AMD ($2.7 bln). In October alone, the foreign trade turnover amounted to 193.9 bln AMD ($443.5 mln), with 

export totaling 60.4 bln AMD ($127.8 mln) and import totaling 133.5 bln AMD ($315.7 mln). 

 

The average AMD/USD exchange rate was 472.55 AMD/$1 in October 2015 and 477.19 AMD/$1 in Jan-Oct 2015 versus 409.98 AMD/$1 in October 2014 and 410.70 AMD/$1 in Jan-Oct 2014.