Sunday, April 2 2017 16:00
Karine Melikyan

In Armenia economic activity in January-February 2017 increased by 6.2% versus Jan-Feb 2016

In Armenia economic activity in January-February 2017 increased by  6.2% versus Jan-Feb 2016

ArmInfo. In Armenia, economic activity in  January-February 2017 compared to January-February 2016 increased by  6.2%. According to the National Statistical Service of Armenia, in  the structure of economic activity the recession continues only in  the construction sector - this time 13.8%. In other areas growth was  noted, with the highest in the industrial sector (16.1%), services  (11.1%) and energy complex (10.4%), against which the trade turnover  grew slightly more modestly by 9.6% and the agricultural sector  showed a minimal growth of 0.1%.

A year earlier, in January-February 2016, by January-February 2015,  economic activity increased by 4.7%, against the background of 23.6%  growth in exports and a 12.2% decline in imports. The decline was  recorded only in the sphere of trade (-1.8%), while the growth was in  the industrial sector (9.9%), services (9.8%), energy complex (7%),  agricultural sector (2,5%) and the construction sector (2.1%).

Meanwhile, in February, compared with January (in the monthly  section), the indicator of economic activity increased by 10.7%. At  the same time, the only recession was registered in the energy  complex by 12.9%. Against this background, the agricultural sector  showed an increase by 55.8%, trade by 28.1%, and construction sector  by 24.5%, and industrial sector by 10.5% and services by 1.6%. In the  same period (February 2017 to February 2016), economic activity  increased by 6%, with the largest increase in the industrial sector  by 19.9%, followed by the trade sector and the services sector with  almost identical rates by 9.8% and 9.7% %, respectively, the energy  complex by 6.9%. In the agricultural sector in February 2017, by  February 2016, there was no change in dynamics, and the construction  sector was in a 19.6% decline.

According to statistical data in January-February 2017, the absolute  volume of trade is dominated by the trade sector with a volume of  292.2 billion AMD ($ 601 million). The second place in terms of  volume is the industrial sector with 228.4 billion ($ 469.8 million),  the third is the service sector with 194.2 billion AMD ($ 399.4  million), the fourth is the agricultural sector with 40.4 billion AMD  ($ 83.1 million), and the fifth is the construction sector with 17.1  billion AMD ($ 35.2 million). The volume of electric power production  in January-February 2017 was 1450.9 million kWh, of which only in  February 675.3 million kWh. The industrial production price index  increased by 4.9% in January- February 2017, only in February by  0.8%, and in comparison with February 2016 by 4.4%.

At the same time, Armenia's foreign trade turnover in  January-February 2017 amounted to 371 billion AMD ($ 761 million)  with annual growth of 22.2%. In its structure, the volume of exports  has undergone an annual growth by 20.1% to 133.1 billion AMD ($ 273.7  million), and imports had an annual growth of 23.5% to 237.9 billion  AMD ($ 487.3 million). Only for February 2017 foreign trade turnover  grew by 22.9% due to the growth of exports by 25.3% and imports by  21.6%. In February 2017, by February 2016, these indicators grew by  11.6%, respectively, 10.1% and 12.4%. A year earlier, in  January-February 2016, the foreign trade turnover underwent an annual  decline of 1.7% due to a 12.2% drop in imports with an increase in  exports of 23.6%, but only in February 2016, almost the same growth  in exports and imports at 53 % and 53.5%, respectively, ensured an  increase in foreign trade turnover by 53.3%, compared to February  2015, the growth of foreign trade turnover by 8.1% came from exports  increased by 39.1% with a decrease in imports by 4.2%.

The average calculated exchange rate of AMD was 486.26 AMD/USD1 in  January-February 2017, and only in February was 486.51 AMD/USD1,  against 489.84 AMD/USD1 in January-February 2016 (only in February -  493, 64 AMD/USD1).

To note, the World Bank predicts GDP growth in Armenia in 2017 by  2,7%. The IMF predicts GDP growth of Armenia in 2017 by 3.4%. By  Forecast of the Eurasian Development Bank GDP growth in Armenia in  2017 will be 2.9%. Fitch forecasts GDP growth in Armenia in 2017 at  2.1%. The state budget of the Republic of Armenia for 2017 laid the  GDP growth by 3.2%. 

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