Monday, January 9 2017 15:59
Karine Melikyan

Economic activity in Armenia maintained growth due to services and industry

Economic activity in Armenia maintained growth due to services and industry

ArmInfo. In Jan-Nov 2016, the economic activity growth in Armenia slackened to 0.6% (from 2.9% in Jan-Nov 2015), with services and industry remaining the drivers of economy. In the same period of 2014 the economic activity growth was much higher-3.8%. By the data of the National Statistics Service  of Armenia, in November 2016 economic activity dropped by 5.1% (up 2.3% versus Nov 2015). In Nov 2015 decline of economic activity was more significant-17.3% (down 2.9% versus Nov 2014).

In Jan-Nov 2016, services grew by 8% versus Jan-Nov 2015, and industry - by 6.8% versus Jan-Nov 2015 (up 3% and 4.6% respectively a year before). Trade increased by 0.3% (down 7.1% a year before).  Agriculture dropped by 6.1%, power engineering - by 6.4%, and construction - by 10.9%. In Jan-Nov 2015 construction dropped by 3.1%, while agriculture and power engineering demonstrated growth-11.6% and 1.4% respectively.

The consumer price index grew by 1% in Jan-Nov 2016 versus Jan-Nov 2015. In November 2016, the indicator rose by 6.9% versus Nov 2015, and by 1.8% versus October 2016. 

In November 2016 construction grew by 12.4%, industry - by 5.7%, power engineering - by 4.7%, while the other sectors demonstrated negative dynamics: agriculture dropped by 24.4%, trade - by 1.6%, services - by 5.2%.

As compared to November 2015, construction and power engineering fell by 17.5% and 7.4% respectively, while the other sectors demonstrated positive dynamics: industry grew by 8.8%, services - by 8.7%, agriculture - 6.3%, and trade - by 3.8%.

According to statistics, in Jan-Nov 2016, trade took the lead in absolute terms - 1.9 trillion  AMD ($4.05 bln). The following sectors ranked next: industry - 1.3 trillion AMD ($2.7 bln), services - 1.1 trillion AMD ($2.4 bln),  agriculture - 836.1 bln AMD ($1.7 bln), construction - 320.2 bln AMD  ($666.6 mln). In Jan-Nov 2016, the electricity output in Armenia made  up 6614.6 mln kWh, including 623.2 mln kWh in November alone.

In Jan-Nov 2016, the foreign trade turnover of Armenia totaled 2195.9 bln AMD ($4576.3 mln), with an 8% year-over-year growth. Exports grew by 21.2% to 778.1 bln AMD ($1621.7 mln), and imports - by 2% to 1417.8 bln AMD ($2954.6 mln).  In Nov 2016 alone foreign trade turnover of Armenia grew by 6.3% due to growth of imports by 7.2%, amid growth of exports by 4.6%. In y-o-y terms (Nov 2016 versus Nov 2015) trade turnover grew by 27.2% mainly due to growth of export by 34.8% amid growth of import by 23.7%. In Nov 2015 foreign trade turnover dropped by 6.9% due to decline of imports and exports both by 4.7%.

The average AMD/USD exchange rate was 478.52 AMD/1USD in November 2016, and 480.27 AMD/1USD in Jan-Nov 2016 (versus 480.15 AMD/$1 in Nov 2015 and 477.46 AMD/$1 in Jan-Nov 2015).


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