In Armenia, drivers of economic growth continue to be industrial sector, trade and services

ArmInfo. In Armenia, economic activity in Jan-July 2017 increased by 6.2% annually on the back of a 21.6% increase in exports. In July this year by July 2016 economic activity increased by 7%, and only in July 2017 - by 5%.

A year ago, in January-July 2016, by the same period of 2015, economic activity increased by 3%, in July compared with July 2015 - fell by 4.3%, but only in July 2016 increased by 2.5%. By way of comparison, we note that in 2015 economic activity in January-July increased by 4.2% per annum, but only in July - by 9.2% (with annual growth of 4%).

According to Armenian National Statistics Service preliminary data, growth in economic activity in January-July 2017 to a greater extent determined the industrial sector - by 12.7% per annum, trade - 12.2%, services- at 11.8% per annum, against which the growth of the energy complex looked modest - 7.8% per annum. At the same time, the agricultural sector and the sphere of construction were delayed in a downward trend, respectively 2.1% and 8.7% per annum. A year ago, in January-July 2016, the industrial sector and service sector showed an increase of 7.9% and 7.6%, respectively, against which the agricultural sector was only 1.3% up, while trade, construction and energy complex recorded a decline 0.4%, 7.6% and 5.5% per annum, respectively.

The industrial production price index increased by 3.8% in the period from January to July 2017, by 3.8% in July 2017 as compared with July 2016, and only by 0.1% in July 2017 alone. A year earlier, in January- July 2016, by the same period of 2015, the price index of industrial products fell by 1.5%, in July 2016, compared to July 2015 - increased by 3.9%, but only in July 2016 increased by 0.7%.

In the same month (July), the agrarian sector gave a decisive impetus to the growth of economic activity, which increased the gross output by 56.4% (against the growth of 50.6% in July 2016), and to a lesser extent the energy complex - by 25.5% (Against growth of 10% in July 2016), followed by a modest pace followed by the trade sector - by 2.7% (against growth of 3.5% a year earlier), industry - 2.7% (against the decline of 6, 2% a year earlier) and services - by 2.6% (against the decline of 4% a year earlier). At the same time, the construction sector showed a decline for July - by 2.7% (versus a decline of 3.5% a year ago).

In the annual breakdown (July 2017 to July 2016), the largest growth was recorded in the energy complex - 24.7%, at a pace yielded by the services sector - 17.2%, industrial sector - 14.3% and trade - 10.5%, and the agricultural sector and The scope of construction differed in decline - respectively, 4.3% and 3.9%. A year earlier, in July 2016, by July 2015, the growth was demonstrated by the industrial sector - 2.8% and the services sector - 4.1%, while other areas were in decline: the agricultural sector - 3.8%, trade - 1%, construction sector - 6.8%, the energy complex - by 8.9%.

According to statistical data in January-July 2017, the absolute value of leadership is held by the trade sector with a volume of 1.3 trillion. Drams ($ 2.8 billion). The second place in terms of volume is the industrial sector - 899.6 billion ($ 1.9 billion), the third - the service sector - 774.5 billion drams ($ 1.6 billion), the fourth - agriculture - 334.8 billion drams ($ 692.1 million), and the fifth - the construction sector - 143.9 billion drams ($ 297.4 million). The volume of electricity produced in January-July 2017 4490.5 million kWh, of which only in July - 696.4 million kWh.

At the same time, Armenia's foreign trade turnover in January-July 2017Amounted to 1618.3 billion Drams ($ 3346.8 million) with an annual growth of 26%. At its structure, the volume of exports has undergone an annual growth of 21.6% to 573 billion AMD ($ 1185.1 million), and imports - by 28.5% to 1045.3 billion AMD ($ 2,161.7 million). Only for July 2017 foreign trade turnover increased by 2.8%, due to growth in exports and imports - by 2.7% and 2.9%.

Respectively, and in comparison with July 2016 the foreign trade turnover grew by 37.3% mainly due to the growth of imports by 45.1%, while exports grew by 25.2%. A year ago, in January-July 2016, foreign trade turnover increased by 2.3% (only in July - a decline of 7.1%) due to the growth of exports by 16.5% with a decrease in imports by 4.4% (only for July Import fell by 9.5%, with a 3.3% drop in exports). By way of comparison, we note that in January-July 2015 the foreign trade turnover declined by 24% (only in July - a decline of 20.8%) due to the decline in imports and exports by 30.7% and 4.4% respectively (only for July imports decreased by 18.4%, with a decline in exports by 25%).  The average calculated exchange rate of the dram in July 2017 was 479.04 AMD / $ 1, and in January-July - 483.78 AMD / $ 1, against 476.52 AMD / $ 1 in July 2016 and 482.81 AMD / $ 1 in January -July 2016, 477.33 AMD / $ 1 - in July 2015 and 476.93 AMD / $ 1 - in January-July 2015.