Wednesday, April 12 2017 19:45
Karine Melikyan

GDP of NKR grew by 9.2% in 2016, while deflator index decreased from 109.1% to 100.5%

GDP of NKR grew by 9.2% in 2016, while deflator index decreased from 109.1% to 100.5%

ArmInfo. The GDP of the NKR grew by 9.2% in 2016 to 229.7 billion AMD (against growth of 9.1% in 2015), while the GDP deflator index was at the level of 100.5% (against 101.6% in 2015). The head of the NKR National Statistical Service Karen Nersisyan presented the socio-economic situation in the indicators at a press conference on April 12, noting that in December 2016 by December 2015 the economic activity increased by 19.6%, only in December - by 23.2%, and In January-December 2016 to the same period of 2015 - by 7.2%. Per capita it was 1577.3 thousand AMD of GDP or USD3282.7/EUR2965.7, against 1443.8 thousand AMD, USD3021/EUR2721.1 in 2015.

He informed that in 2016 industrial products were produced for 59 billion AMD, and sold for 58.6 billion AMD. The annual growth in the volume of industrial products was 9.7%, with a 39.2% increase in the mining industry, a 8.5% decrease in processing, a 10.8% increase in electricity, gas, steam and air conditioning supplies, while revenues from water supply, waste treatment and processing and recycling were reduced by 0.5%. In the industrial structure, the breakdown of the segments is as follows: the supply of electricity, gas, steam and air conditioning - 36%, processing industry - 33.8%, mining industry - 29%, and water supply, waste treatment and processing and recycling - 1.2%.

The gross volume of agricultural products increased by 7.4% in 2016 to 68.5 billion AMD, with the main growth coming from crop production. The breakdown into segments in the agricultural sector is dominated by cereals - 31.2%, meat products - 26.4% and dairy products - 15%. The number of cattle decreased by 15.8% in 2016, cows by 13.7%, pigs by 19.7%, small cattle and birds by 16.6% and 8.3%, respectively.

In the construction sector in 2016 there was a decline by 9% - up to 45.7 billion AMD, with the share of construction and installation work accounted for 88.1%. 30.4% of the total amount of financing of construction of budget funds was used, 27.9% at the expense of organizations' funds, 17.6% at the expense of the population, 11.4% at the expense of charitable assistance, which is mostly inferior to 2015, with the exception of budgetary funds, the share of which in the total amount of financing was lower (14.8%).

In the sphere of trade in 2016, turnover decreased by 12.6%, amounting 99.6 billion AMD, and the retail trade turnover decreased by 4.8% in a year to 85.9 billion AMD. In 2016, the population was provided services in the amount of 53.9 billion AMD with an annual growth by 3.7%.

Expenditures of the NKR budget in 2016 increased by 1.5% up to 85.7 billion AMD, exceeding revenues by 2.5 times. The revenues of the NKR budget amounted to 14.7% of GDP, compared to 16.5% in 2015, and the ratio of taxes and duties to GDP declined in 2016 to 14.1% from 15.9% in 2015.

Incomes of the NKR population in 2016 increased by 3.6% - 161.6 billion AMD, while expenses grew 3.3% to 155.6 billion AMD. The real incomes of the population made 157 billion AMD in 2016, having increased by 5.8% in comparison with 2015. The average monthly nominal wage grew by 1.1% in 2016 to 152.7 thousand AMD, and in the public sector by 2% to 171.4 thousand AMD, and in the private sector, the salary was 135.9 thousand AMD. The real average monthly salary grew by 2.6% in 2016, with the minimum monthly wage of 36% of the real average monthly salary.

The foreign trade turnover of the NKR amounted to 162 billion AMD or $ 338 million in 2016, of which export was 38.9 billion AMD ($ 81.1 million), and import - 123.2 billion AMD ($ 256.9 million). The balance of the trade balance is negative - 84.3 billion AMD ($ 175.8 million). On an annual basis, the foreign trade turnover of the NKR grew by 7.4%, in particular, exports - by 30.6%, and imports - by only 1.7%, which allowed reducing the negative trade balance by 7.7%. The deflation in the consumer market of the NKR in January-December 2016 was 1.4%, in particular, food products (including alcohol and cigarettes) fell by 1%, non-food items - by 3.4%, and tariffs for services decreased by 0, 6%.


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