Saturday, July 1 2017 12:43
Karine Melikyan

In Armenia, the drivers of economic growth are the industrial sector, trade and services

ArmInfo. In Armenia, economic activity in January-May 2017 increased by 6.4% per annum versus the backdrop of the prevalence of rising import rates over exports.In May this year by  May 2016, economic activity increased by 8.9%, but only in May 2017 - by 11.9%. As a comparison, to  note a year ago, in January-May 2016, by the same period of 2015, economic activity increased by 5.5%, in May compared to May 2015 - also by 5.5%, but only in May - by 6%, 6%.

According to Armenian National Statistics Service data, growth  in economic activity in January-May 2017 to a greater extent determined the industrial sector - by 14.4% per annum, trade - by 12.8%, services - by 11%, versus which the growth of the energy complex looked modest - 4.6% per annum . At the same time, the agricultural sector and the construction sector maintain a downward trend, respectively by 3.5% and 12.1% per annum. A year ago, in January-May 2016, the industrial sector and services sector showed a more modest growth, respectively 8.8% and 8.6% per annum, while trade was completely down 0.1%, along with which the decline was also observed in the construction Sector and energy complex - respectively 7.9% and 1.9%.  The industrial production price index increased by 3.5% in January-May 2017 to the same period of 2016, by 4.7% in May 2017 compared to May 2016, and by 0.2% only in May 2017. A year earlier, in January- May 2016, in comparison with the same period in 2015, the industrial production price index decreased by 3.1%, in May 2016 by May 2015 - by 1.9%, but only in May 2016 increased by 1.7%.

In the same month (May), a decisive impetus to the growth of economic activity was given by the construction sector with a 50% increase in volume (versus growth of 43.8% in May 2016), the agricultural sector - by 47.1% (versus growth of 52.2% In May 2016) and industrial sector - by 12.7%, followed by a modest pace followed by the industrial sector - by 12.7% (versus a decline of 3.9% in May 2016), services - 9.5% (versus growth By 6% in May 2016) and trade - by 6.6% (versus growth of 5.3% in May 20169).  The power complex excelled in May 2017 decline by 2.9%, significantly losing the descending dynamics of the year-old prescription (17.5%).  In the annual context (May 2017 to May 2016), the industrial sector was leading in terms of growth rates - 20%, followed by trade - 15%, services - 14.3% and energy complex - 5.6%, and the agricultural sector and construction have distinguished themselves Minus trend - by 4.8% and 9.3% respectively. A year earlier, in May 2016 by May 2015, the growth drivers were much more modest: the industry sector was leading - 9.1%, followed by the service sector - 5.8%, the agricultural sector - 5.8% and trade - 1%, and the construction sector And the energy complex were in the negative trend - 9% and 21.7%, respectively.  According to statistical data in January-May 2017, the absolute volume of trade is dominated by the trade sector with a volume of 894.5 billion AMD ($ 1.8 billion). The second place in terms of volume is the industrial sector - 625.1 billion ($ 1.3 billion), the third - the service sector - 524.7 billion AMD ($ 1.1 billion), the fourth - agriculture - 170.6bln AMD ($ 351.7 million), and the fifth - the construction sector - 78.6 billion AMD ($ 162 million). The volume of electricity generation in January-May 2017 was 3239.3 million kWh, of which only in May - 560.5 million kWh.

At the same time, Armenia's foreign trade turnover in January-May of 2017 totaled 1108.8 billion AMD ($ 2286.2 million) with an annual growth of 23.1%. In its structure, the volume of exports has undergone an annual growth of 20.9% to389.9 billion AMD ($ 803.9 million), while imports - annual growth of 24.4% to 718.8 billion AMD ($ 1,482.3 million). Only in May 2017, foreign trade turnover increased by 35% due to an increase in imports by 45% and exports by 18.3%, and compared to May 2016, the growth of foreign trade turnover by 53.4% was driven more by imports - 61.7% %, Rather than exports - 38.7%. A year earlier, in January-May 2016, foreign trade turnover increased by 6.8% per annum due to an increase in exports of 20.1% with an increase in imports of only 0.9%, and the May decline in foreign trade turnover by 7.2% was triggered by a downward trend Import and export, respectively, by 9.5% and 3%, but compared to May 2015, the increase in foreign trade turnover by 2.1% came from exports - 8.4% against the background of a 1.1% decline in imports.

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