Economic activity in Armenia was up 3% n Jan-Jul 2016, as growth rates of industrial and service sectors were high

ArmInfo. Economic activity increased by 3% in Jan-Jul 2016 amid 16.5% exports growth.  In July 2016 versus July 2015, the economic activity fell 4.3%, but grew 2.5$ for July 2016 alone.  A year ago, in Jan-Jul 2015 versus the same period of 2014, this indicator increased 4.2%, and in July 2015 versus July 2014 - 4%, and 9.2% for July alone. For comparison, in 2014 the economic activity increased 4.1% y-o-y for Jan-Jan and 19.2% for July alone (a 7.2% y-o-y growth). 

By the preliminary data of the National Statistical Service of Armenia, the economic activity grew for Jan- Jul 2016 as the industrial sector increased 7.9% y-o-y, service sector - 7.6% y-o-y, amid 1.3% y-o-y growth of the agricultural sector. Meantime, the trade sector fell 0.4% along with the construction and the energy sectors - 7.6% and 5.5% y-o-y respectively.

The index of industrial goods prices fell 1.5% y-o-y, while in July 2016 versus July 2015, it grew 3.9%, and for July 2016 alone - 0.7%.

In July 2016, the agricultural sector boosted the economic activity growth, as gross agricultural produce increased 50.6% (versus 87.8% growth I July 2015), energy sector increased 10% (versus 3.3% decline in July 2015). Trade sector increased 3.5% (versus 3.4% a year ago), amid 6.2% decline of the industrial sector for July 2016 (vs 2.6% decline a year ago), 3.5% decline of the construction sector (vs 4.5% decline a year ago), and 4% decline of the service sector (versus 1.2% growth a year ago).  As compared to July 2015, the industrial sector grew 2.8%, service sector - 4.1%, amid 3.8% decline of agricultural sector, 1% decline of the trade sector, 6.8% decline of the construction sector and 8.9% decline of the energy sector.

In absolute terms, trade sector amounted to 1.2 trn drams ($2.4bln), industrial sector - 777.4bln drams ($1.6bln), service sector - 690.1bln drams ($1.4bln), agriculture  - 344.02bln drams ($712.5mln), and construction sector - 158/7bln drams ($328.7mln). Energy generation totaled 4,166.1mln kWh, of which 559.9mln kWh -  in July.

In Jan-Jul 2016, the foreign trade turnover of Armenia totaled 1283.3 bln AMD ($2658.8 mln), with a 2.3% growth versus Jan-Jul 2015. Exports grew by 16.5% y-o-y to 467.5bln AMD ($969mln), and imports dropped by 4.4% to 815.8bln AMD ($1689.8 mln). In July 2016 alone, the foreign trade turnover fell 7.1%, with exports and imports falling by 3.3% and 9.5%, respectively. As compared to July 2015, the foreign trade turnover fell by 1.3% due to 9% drop in imports and 13.2% growth in exports.

In July 2016, the AMD/USD average exchange rate was 476.52 AMD/1USD, and in Jan- Jul 2016 - 482.81 AMD/1USD versus 477.33 AMD/1USD in July 2015 and 476.93 AMD/1USD in Jan-Jul 2015.