In Jan-Sep 2016 services sector in Armenia experienced 8.1% growth versus 2.5% growth in Jan-Sep 2015

ArmInfo. In Jan-Sep 2016, the services sector in Armenia grew by 8.1% y-o-y, and totaled 919.7 bln AMD ($1.9b bln) versus 2.5% growth a year before.  In September alone 7% growth was registered to 117.6 bln drams ($248.1 mln).

According to the National Statistical Service of Armenia, in Jan-Sep 2016 versus Jan-Sep 2015 services on the property market grew by 6.6% (versus 2.5% decline a year before), the education sector-to 4.2% versus 4.1% decline a year before, healthcare 2.4% growth from 5.4% decline a year before, transport-23.8% growth versus 25.4% decline a year before, administrative and additional activities-0.3% growth versus 7.1% decline in previous year, information and communication services grew 0.5% versus previous 2% growth.

The financial sector took the lead in terms of services, which amounted to 181.5 bln AMD (19.7% of the total amount), ensuring 2.9% y-o-y growth with the major part of the services provided by the banks. The following sectors ranked next:  culture and recreation - 174.5 bln AMD (19% of the total amount) with 30.6% y-o-y growth; information and communication - 159.8  bln AMD (17.4%) with 0.5% y-o-y decline; transport - 123.4 bln AMD (13.4%) with 23.8% y-o-y growth; public catering and tourism - 67.6 bln AMD (7.3%) with 1.9% y-o-y decline. 

In Sep 2016, the average AMD/USD exchange rate was 474.10 AMD/$1, and in Jan-Sep - 481.03 AMD/$1 versus 481.07 AMD/$1 in Sep 2015 and 477.71 AMD/$1 in Jan-Sep 2015.