Thursday, July 20 2017 18:27
Karine Melikyan

In Armenia, in first half of 2017 economic activity increased by 6.1% per annum and drivers were trade, industrial sector and services

In Armenia, in first half of 2017 economic activity increased by 6.1%  per annum and drivers were trade, industrial sector and services

ArmInfo. In Armenia, economic  activity in the first half of 2017 increased by 6.1% per annum  against the backdrop of the prevalence of rising import rates over  exports. In June 2017. By June 2016 economic activity increased by  5.1%, but only in June 2017 - by 9.1%. As a comparison, we note that  a year earlier, in the first half of 2016, by the same period of  2015, economic activity increased by 4.8%, in June compared to June  2015 - by 2.1%, but only in June - by 12.8% %.

According to the preliminary data of the National Statistical Service  of Armenia, the growth of economic activity in the first half of the  year 2017 caused the trade sector to a greater degree - by 12.6% per  annum, the industrial sector - by 12.4%, the services sector - by  10.9%, against which the growth of the energy complex looked Modestly  - 5.2% per annum. At the same time, the agricultural sector and the  sphere of construction retain a downward trend, respectively by 1.4%  and 10% per annum. A year earlier, in the first half of the year in  2016, the industrial sector and the services sector showed a more  modest growth - respectively, 8.9% and 8.3% per annum, against which  the growth of agriculture looked modest - 3.3%, and trade was in  decline - 0.3%, along with the energy complex and the construction  sector, respectively, 4.9% and 7.8%.

The industrial production price index rose by 3.8% in the first half  of 2017 to the same period of 2016, by 4.9% in June 2017 as compared  to June 2016, and by 0.5% only in June 2017. A year earlier, in the  first half of 2016, by the same period of 2015, the price index for  industrial products fell by 2.4%, in June 2016 by June 2015 -  increased by 1.3%, but only in June 2016 increased by 0.1%.

In the same month (June), the agrarian sector gave a decisive impetus  to the growth of economic activity - a threefold increase in volume  (against 98.3% growth in June 2016), the construction sector with a  growth of 28% (against growth of 21.6% % In June 2016), and the trade  and services sector is much more modest - 10.4% and 4.8%,  respectively (against growth of 15.4% and 11% in June 2016). The  industrial sector and the energy complex showed a decline of 3.4% and  1% in June 2017, respectively, while the industrial sector a year  earlier in June showed an increase of 11.4%, and the energy complex  was in a more significant negative (4.1%).

In the annual context (June 2017 to June 2016), the trade and  services sector was leading in terms of growth rates - 11.9% and  10.1%, respectively, which was slightly below the energy complex rate  of 9%, while the industrial sector and the agricultural sector showed  a more modest and almost the same growth - 3.8% and 3.4%  respectively. The scope of construction was distinguished by a minus  trend - 4.3%. A year earlier, in June 2016, only the industrial  sector showed growth: 8.9% and services - 6.6%, while the rest of the  spheres were distinguished by a decline: the agricultural sector -  0.2%, trade - 0.3%, construction - 7.7%, energy complex - 19.9%.

According to statistical data in the first half of the year 2017, the  absolute value of leadership is held by the trade sector with a  volume of 1.1 trillion AMD ($ 2.3 billion). The second place in terms  of volume is the industrial sector - 760.4 billion ($ 1.6 billion),  the third - the service sector - 648.7 billion AMD ($ 1.3 billion),  the fourth - agriculture - 247.1 billion AMD ($ 510 million), and the  fifth - the construction sector - 111.7 billion AMD ($ 230.5  million). The volume of electricity generated in the first half of  2017 was 3794.1 million kWh, of which only in June - 554.8 million  kWh.

Armenia's foreign trade turnover in the first half of 2017 was 1363.5  billion AMD ($ 2,815.1 million), with annual growth of 24%. In its  structure, the volume of exports has undergone an annual growth of  21% to 481.4 billion AMD ($ 993.9 million), and imports - an annual  growth of 25.8% to 882.1 billion AMD ($ 1,821.2 million). Only for  June 2017, foreign trade turnover decreased by 13.45% due to a  decrease in imports by 17.5% and exports - by 5.1%, and in comparison  with June 2016, the growth of foreign trade turnover by 25.2% was  driven more by imports - 29%, rather than exports - 19%. A year  earlier, in the first half of the year 2016, foreign trade turnover  increased by 2.7% per annum due to export growth of 16.7% with a  decline in imports of 3.7%, and the June increase in foreign trade  turnover by 4.8% was triggered by an increase in exports by 9, 8% and  imports - by 2.3%, but as compared to June 2015, the foreign trade  turnover decreased by 7.3% due to a decrease in imports by 11.8% with  export growth of only 1.2%.

The average calculated exchange rate of the AMD in June 2017 was  481.52 AMD/USD1, and in the first half-year it was 484.57 AMD/USD1,  against 477.53 AMD/USD1 in June 2016 and 483.86 AMD/USD1 in the first  half of the year 2016.

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