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

ArmInfo. In Armenia, economic activity in January-August 2017 increased by 5.5% per annum on the back of a 21.7% increase in exports. In August this year by August 2016, economic activity increased by 2.4%, but only in August 2017 - by 18.7%. A year earlier, in January- August 2016, by the same period of 2015, economic activity increased by 2.4%, in August compared with August 2015 - fell by 0.5%, but only in August 2016 increased by 28.2%.

As a comparison, we note that in 2015, economic activity in January-August increased by 3.9% per annum, but only in August - by 23% (with an annual growth of 3.7%).

According to the National Statistical Service of Armenia, the growth of economic activity in January- August 2017 to a greater extent determined the industrial sector - by 12.4% per annum, services - by 12.4%, trade - by 12.3%, against which the growth of the energy complex looked modestly - 6.6% per annum. At the same time, the agricultural sector and the sphere of construction were delayed in a downward trend, respectively 9.4% and 8% per annum. A year earlier, in January-August 2016, the industrial sector and service sector showed an increase of 7% and 8%, respectively, against which the agricultural sector was only 4.1% higher, and trade, construction and energy complex recorded a decline of 0.4%, 7.5% and 5.9% per annum, respectively.

The industrial production price index increased by 3.7% in January-August 2017 by 3.7% in the same period of the previous year, by 3.5% in August 2017 as against August 2016, and only by 0.9% in August 2017 alone. A year earlier, in January-August 2016, by the same period of 2015, the index of industrial products prices decreased by 0.5%, in August 2016, compared to August 2015 - increased by 7.1%, but only in August 2016 increased by 2%.

In the same month (in August), the agrarian sector gave a decisive impetus to the growth of economic activity, which increased the gross output by 65% (against the growth of 2.2 times in August 2016), and to a lesser extent the construction sector and services - by 11, 1% and 2.9% respectively. The August recession was distinguished by the trade sector - by 2.2%, industry - by 0.9% and the energy complex by 9.2%.

In the annual context (August 2017 to August 2016), the largest growth was recorded in the services sector - by 15.5%, the trade sector - by 12.4%, industry - by 10.9%, and the decline in the energy complex - 0.9% the agricultural sector - 25% and the construction sector - 5.1%.

According to statistical data in January-August 2017, the absolute volume of leadership is held by the trade sector with a volume of 1.6 trillion AMD ($ 3.2 billion). The industrial sector is on the second place (1.04 trln ($ 2.2 bn), the services sector - 904.1 bn AMD ($ 1.9 bn), the fourth - agriculture - 459.9 bn AMD ($ 951.9 m), and the fifth - the construction sector - 179.9 billion ($ 372.4 million). The volume of electricity generation in January-August 2017 was 5123.3 million kWh, of which only in August - 632.6 million kWh.

At the same time, Armenia's foreign trade turnover in January-August 2017 was 1873.8 billion AMD ($ 3,880.6 million) with annual growth of 24.4%. In its structure, the volume of exports has undergone an annual growth of 21.7% to 667.8 billion AMD ($ 1383.2 million), and imports - 26% to 1,126 billion AMD ($ 2,497.4 million). Only in August 2017, foreign trade turnover increased by 0.4%, due to export growth of 3.6% with a decline in imports by 1.4%, and compared to August 2016, foreign trade turnover increased by 15.6% mainly due to growth of exports by 21.8% with a modest increase in imports by 12.2%.

The average calculated exchange rate of AMD was 478.61 AMD/USD1 in August 2017, and 483.13 AMD/USD1 in January-August, compared to 475.45 AMD/USD1 in August 2016 and 481.89 AMD/USD1 in January-August 2016, 479.78 AMD/USD1 - in August 2015 and 477.29 AMD/USD1 - in January- August 2015.