In Jan 2017 economic activity in Armenia grew by 6.5% versus Jan 2016

ArmInfo. In Jan 2017 economic activity in Armenia grew by 6.5% versus Jan 2016. According to the data of the National Statistics Service of Armenia, construction dropped by 5.3%, while power engineering grew by 13.6%, industry - by 12.2%, and services - by 12.1%.

To note, in Jan 2016 versus Jan 2015 the economic activity rose by 5.5%. At that time trade fell by 2.7%, while industry grew by 15.7%, power engineering - by 5.2%, construction and services - by 5.1% each, and agriculture - by 1.5%.

As compared to Dec 2015, the economic activity dropped by 46.9%, with construction falling by 90.2%.  Agriculture and trade declined by 78.2-56.3%, while industry dropped by 23.9%, services - by 20.5%, and power engineering rose by 10.7%.

In Jan 2017 the consumer price index grew by 0.3% (up 5.5% versus Jan 2016). A year before, the index rose by 1.8% (down 6.3% versus Jan 2015).

In January 2017 trade amounted to 128.8 bln AMD ($264.9 mln), industry - 108.1 bln AMD ($222.5 mln), services - 96.2 bln AMD ($198 mln), agriculture - 16.02 bln AMD ($33 mln), construction - 7.6 bln AMD ($15.5 mln). The electric power output made up 775.6 mln kWh in Jan 2017.

In Jan 2017 the foreign trade turnover of Armenia amounted to 174.2 bln AMD ($358.7 mln), with a 45.5% year-over-year growth. Exports rose by 35.4% to 59 bln AMD ($121.5 mln), while imports rose by 51.4% to 115.2 bln AMD ($237.2 mln). In Jan 2017 alone the foreign trade turnover fell by 25.3%, with imports dropping by 27% and exports falling by 21.8%.

In Jan 2017 the average AMD/USD exchange rate made up 486.01 AMD/$1 versus 486.04 AMD/$1 in Jan 2016.

To note, the World Bank forecasts Armenian GDP growth at 2.7% for 2017, the IMF - at 3.4%, the Eurasian Development Bank - at 2.9%, Fitch - at 2.1%, and the Armenian state budget mentions 3.2% GDP growth for 2017. According to the forecast made by the CBA in February, GDP growth in Armenia is expected to be 2.2-3.2% in 2017, 2.8-3.9% in 2018 and 3.2-4.4% in 2019.