Tuesday, February 28 2017 14:46
Karine Melikyan

In 2016 GDP growth in Armenia made up 0.2%

In 2016 GDP growth in Armenia made up 0.2%

ArmInfo. In Jan-Dec 2016  versus Jan-Dec 2015 GDP growth in Armenia made up 0.2%, in absolute  terms - 5.068 trillion AMD ($10.5 bln), according to the National  Statistics Service of Armenia. The GDP deflator index made up 100.5%.

In quarterly dynamics of 2016, the situation was as follows: in Q1  GDP dropped by 42.8% to 898.6 bln AMD, in Q2 GDP grew by 25% to 1.134  trillion AMD, in Q3 it rose by 38% to 1.520 trillion AMD, in Q4 it  rose by 0.4% to 1.515 trillion AMD. 

For comparison, in Q1 2015 GDP dropped by 40.2% to 873.2 bln AMD, in  Q2 it rose by 27.1% to 1.110 trillion AMD, in Q3 it grew by 36.7% to  1.517 trillion AMD, and in Q4 it rose by 2% to 1.547 trillion AMD. In  Q1 2014 GDP fell by 46.7%, in Q2 it rose by 27.3%, in Q3 it grew by  49.2%, in Q4 it rose by 6.9%.

To recall, three years before, in 2012 GDP grew by 7.2% to 4.001  trillion AMD, by 3.3% in 2013 (to 4.556 trillion AMD), by 3.6% in  2014 (to 4.829 trillion AMD), by 3% in 2015 (to 5.032 trillion AMD).  In 2015 the GDP deflator index made up 101.2% versus 102.3% in 2014,  103.4% in 2013, 98.8% in 2012.

In 2016, GDP per capita made up 1.7 mln AMD or $3.5 thsd or 3.2 thsd  EUR, and the state debt burden per capita amounted to $2 thsd  (foreign debt per capita $1.6 thsd). 

In 2011-2016 the population of Armenia shrank from 3.274 mln to 2.987  mln. Experts think that given the large-scale migration the actual  population of Armenia is much smaller than mentioned in the  statistics - about 2.8 million. So, the GDP per capita and the state  burden per capita are much higher than the statistical figures. 

According to the National Statistics Service of Armenia, amid 0.2%  GDP growth in 2016 the foreign trade turnover rose by 7.4%, with  exports rising by 20%, and imports growing by 1.6%. In 2016 the  foreign debt of Armenia grew by 11% to $4.8 bln. 

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.

To note, guided by the Government's decision dated 25 Jan 2011, the  National Statistics Service of Armenia publishes the economic  activity (in percentage) on a monthly basis. As regards the quarterly  and annual absolute value of GDP, the Service published it 60-90 days  after the period under review.

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