In Armenia, service sector, like a year ago, fixes growth in volumes in first quarter at 10% per annum

ArmInfo.In Armenia, the  services sector, like a year ago, increased volumes in the first  quarter of this year. At 10% per annum - up to 301.9 billion AMD ($  621.5 million). As the data of the National Statistical Service of  Armenia testify, only for March 2017. The volume of provided services  totaled 107.6 billion AMD (over $ 222.1 million), having increased by  9.8% in a month, and by 8.4% in the annual section.

According to statistical services, in the first quarter in 2017,  compared to the same period of 2016, service in the sectors of  accommodation of tourists and catering with a 0.7% decline last year,  it went up by 19.6% growth in the current, education - from a 2.5%  decline to the 2.1% growth, administrative and support activities -  from 6.9% decline to 3.4% growth, professional, scientific and  technical activities - from a 1.2% decline to a 3.6% growth.  Information and communication services have accelerated growth rates  from 3.1% to 5.3%, financial and insurance activities - from 2.8% to  17.3%, other services in the service sector - from 4.1% to 8, 2%. At  the same time, the slowdown in growth was recorded in real estate  transactions - from 10.6% to 3.6%, culture, entertainment and  recreation - from 46.1% to 10.7%, transport - from 25.7% up to 9.3%.

According to statistical data, in terms of services provided, the  financial sector traditionally leads - 57.4 billion AMD (22.6% of the  total), with the lion's share (69%) accounted for by banks. The  second place in the volume of services is occupied by the sphere of  culture, entertainment and recreation - 60.5 billion AMD (20% of the  total volume). In the third place - the sphere of information and  communication - 52.7 billion AMD (17.5%), and the main load falls on  the telecommunications segment (60.4%). The fourth place is occupied  by the transport sector - 38.8 billion AMD (12.8%). The five leaders  are the sphere of catering and accommodation of tourists, which  provided services for 16.5 billion AMD (5.5%).

The average calculated exchange rate of the AMD to the USD in March  2017 was 484.83 AMD/USD1, and in the first quarter - 485.78 AMD/USD1,  against 486.33 AMD/USD1 in March 2016 and 488.67 AMD/USD1 in the  first quarter of 2016.