Friday, September 2 2016 12:48
Karine Melikyan

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

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

ArmInfo. Economic activity in  Armenia 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 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.  

POST A COMMENT
Input digits     


News
Armenian authorities` intention to construct a new, 1,200 MW, nuclear  power unit is erroneous- expertArmenian authorities` intention to construct a new, 1,200 MW, nuclear  power unit is erroneous- expert
Wizz Air starts operating Rome-Yerevan-Rome flightsWizz Air starts operating Rome-Yerevan-Rome flights
3rd session of Geographical Indications sub-committee under CEPA  between Armenia and EU took place3rd session of Geographical Indications sub-committee under CEPA  between Armenia and EU took place
Armenia`s GDP growth to be double-digit in 2022 - EconomistArmenia`s GDP growth to be double-digit in 2022 - Economist
 USD 25 million to support the private sector USD 25 million to support the private sector
Armenia`s economic activity increased by 13.9% in 8 months of 2022Armenia`s economic activity increased by 13.9% in 8 months of 2022
Armenia-Italy Textile Alliance Forum started in MilanArmenia-Italy Textile Alliance Forum started in Milan
Dmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow ExchangeDmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow Exchange
Armenia`s minister of economy hosts WB Country Manager for ArmeniaArmenia`s minister of economy hosts WB Country Manager for Armenia
EBRD launches climate governance platform for business leaders in  Ukraine, Georgia and ArmeniaEBRD launches climate governance platform for business leaders in  Ukraine, Georgia and Armenia
Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum 
Iran Khodro Company starts supplying cars to ArmeniaIran Khodro Company starts supplying cars to Armenia
Armenia, China are considering  possibility of organizing direct  flights between  countriesArmenia, China are considering  possibility of organizing direct  flights between  countries
Expert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilizeExpert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilize
Gradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economyGradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economy
CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%
Central Bank of Armenia raised refinancing rate from 9.5% to 10%Central Bank of Armenia raised refinancing rate from 9.5% to 10%
TOTAL opens training center in Etchmiadzin for training specialistsTOTAL opens training center in Etchmiadzin for training specialists
WB stands ready to continue to assist Armenian government in  implementation of priority programsWB stands ready to continue to assist Armenian government in  implementation of priority programs
Armenia`s producers to get 1% tax reduction for recalling spoiled  productsArmenia`s producers to get 1% tax reduction for recalling spoiled  products
FLY ONE Armenia transported over 200.000 passengers in its first year  in marketFLY ONE Armenia transported over 200.000 passengers in its first year  in market
Armenia`s minister of economy visits ski resort construction project  in Aragatsotn Armenia`s minister of economy visits ski resort construction project  in Aragatsotn 
Pashinyan instructs to find new investors for mines that are  currently not being developedPashinyan instructs to find new investors for mines that are  currently not being developed
AMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 FoundationAMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 Foundation
ACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefersACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefers
Presentation of Jobbit instrument held in Yerevan Presentation of Jobbit instrument held in Yerevan 
New power unit under construction at Kursk NPP could be serve as  standard for Armenia - ministerNew power unit under construction at Kursk NPP could be serve as  standard for Armenia - minister
Diaspora factor in Armenia`s investment portfolio is decliningDiaspora factor in Armenia`s investment portfolio is declining
Foreign investors present existing problems to Deputy Prime Minister  of ArmeniaForeign investors present existing problems to Deputy Prime Minister  of Armenia
Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8
Ameriabank starts initial placement of another tranche of USD bonds  in amount of $10 millionAmeriabank starts initial placement of another tranche of USD bonds  in amount of $10 million
Pashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with thisPashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with this
Armenia`s premier on secondary western sanctions over intensified  contacts with Russia Armenia`s premier on secondary western sanctions over intensified  contacts with Russia 
Armenia is very concerned with unblocking transport links with  Azerbaijan Armenia is very concerned with unblocking transport links with  Azerbaijan 
Nikol Pashinyan links economic growth in Armenia with EAEU  regulationsNikol Pashinyan links economic growth in Armenia with EAEU  regulations
IDBank issues the first premium class business cards in ArmeniaIDBank issues the first premium class business cards in Armenia
Kerobyan: More than 50,000 Russian IT specialists arrived in ArmeniaKerobyan: More than 50,000 Russian IT specialists arrived in Armenia
Converse Bank has come up with a unique offer to encourage online shoppingConverse Bank has come up with a unique offer to encourage online shopping
IDBank is the first in Armenia to present Visa Platinum Business cardIDBank is the first in Armenia to present Visa Platinum Business card
AraratBank issues and underwrites USD 3,000,000 bondsAraratBank issues and underwrites USD 3,000,000 bonds
Fitch Affirms Armenia`s Sovereign Rating at B+, Upgrades GDP Growth  Outlook to 6.4%Fitch Affirms Armenia`s Sovereign Rating at B+, Upgrades GDP Growth  Outlook to 6.4%
Armenian SRC Deputy Head, Iranian Consul General in Kapan discuss  methods of facilitating customs procedures Armenian SRC Deputy Head, Iranian Consul General in Kapan discuss  methods of facilitating customs procedures 
Armenia to host production of Iranian carsArmenia to host production of Iranian cars
WB to issue a $26.5mln loan to ArmeniaWB to issue a $26.5mln loan to Armenia
Ardshinbank named Retail Bank of the Year by the international magazine Asian Banking & FinanceArdshinbank named Retail Bank of the Year by the international magazine Asian Banking & Finance
Armenia has significantly increased polished diamond exports and  rough diamond importsArmenia has significantly increased polished diamond exports and  rough diamond imports
Armenia significantly increased gold exports in H1 2022Armenia significantly increased gold exports in H1 2022
Armenian-Iranian business forum was held in YerevanArmenian-Iranian business forum was held in Yerevan
Converse Bank offers SME financing without financial analysisConverse Bank offers SME financing without financial analysis
Minister: As a result of relocation, 300 large companies with Russian  capital were registered in ArmeniaMinister: As a result of relocation, 300 large companies with Russian  capital were registered in Armenia
Ardshinbank supports development of Armenian jazz musicArdshinbank supports development of Armenian jazz music
Ameriabank expands branch network in YerevanAmeriabank expands branch network in Yerevan
Winner of Buissup Global Forum 2021 to represent Armenia at  Entrepreneurship World Cup 2022Winner of Buissup Global Forum 2021 to represent Armenia at  Entrepreneurship World Cup 2022
CPC reveals violations in production and sale of bottled  non-carbonated waterCPC reveals violations in production and sale of bottled  non-carbonated water
Orion, BAJ Accelerator launching one more startup growth acceleration  programOrion, BAJ Accelerator launching one more startup growth acceleration  program
Deutsche Telekom AG to launch activities in Armenia Deutsche Telekom AG to launch activities in Armenia 
Armenian, Russian entrepreneurs hold 250 meetings within RF  Diversified Business Mission to ArmeniaArmenian, Russian entrepreneurs hold 250 meetings within RF  Diversified Business Mission to Armenia
Economist concerned over children living in poverty in Armenia Economist concerned over children living in poverty in Armenia 
Neruzh professional repatriation program to be launched in Dilijan in  late SeptemberNeruzh professional repatriation program to be launched in Dilijan in  late September
TVEL JSC, Armenian NPP sign contract for supply of fresh nuclear fuelTVEL JSC, Armenian NPP sign contract for supply of fresh nuclear fuel
Read more


Exchange rates
28.09.2022
RUB6.99-0.06
USD408.04-1.78
EUR390.29-4.24
GBP434.69-7.92
CAD296.41-3.06
JPY28.20-0.20
CNY57.38-0.57
CHF412.24-2.89