Friday, October 20 2017 13:41
Karine Melikyan

In Armenia, economic activity growth accelerated in the 9 months of 2017 to 5.1% from 1.6% a year earlier

In Armenia, economic activity growth accelerated in the 9 months of  2017 to 5.1% from 1.6% a year earlier

ArmInfo. In Armenia, the growth  of economic activity in January- September 2017 to the same period of  2016 accelerated from 1.6% to 5.1%. A year earlier, for the 9 months  of 2015 to the same period in 2014, economic activity growth slowed  from 4.3% to 3.7%.

According to preliminary data of the National  Statistical Service of Armenia, only in September 2017 the growth of  economic activity was 10.1% with an annual growth of 2.5%, against  last year's September growth of 7% and an annual decline of 2.4%.

The growth in economic activity in January-September 2017 was largely  determined by the services sector - by 12.8% per annum, trade - by  12.5% and the industrial sector by 11.9%, and by a relatively modest  6.5%. Against this background, the agricultural sector and the  construction sector continue to show an annual decline - by 9.9% and  6.4%, respectively. A year earlier, in January-September 2016, by the  same period of 2015, growth was recorded only in the services sector  - by 8.1% and in the industrial sector - by 7.1%, while the rest of  the sectors showed an annual decline: trade - 0, 1%, agricultural  sector - 2.6%, energy complex - 6.5% and construction - 9.2%.

The industrial production price index increased by 3.8% in the period  from January to September 2017, by 4.1% in September 2017 compared to  September 2016, and by 0.1% in September 2017 alone. A year earlier,  in January-September 2016, by the same period of 2015, the index of  industrial products prices decreased by 0.1%, in September 2016  compared to September 2015 - increased by 4.6%, but only in September  2016 decreased by 1.5%.

On a monthly basis (in September), the agricultural sector gave a  decisive impetus to the growth of economic activity, which increased  by 36.3% (against 4.9% growth in September 2016), and to a lesser  extent the construction sector - 11.1% (against 4.1% growth in  September 2016), services - 5.9% (against 5.2% growth in September  2016), industrial sector - 4.7% (against 8.4% growth in September  2016), trade - 3.1% (against 1.4% growth in September 2016). The  power complex in September 2017 showed a negative trend (1.7%),  against a more impressive decline in the same month last year (7.4%).

On an annual basis (September 2017 by September 2016), the only  recession was recorded in the agricultural sector - by 11.6%, while  the rest of the sectors showed growth, with the most impressive  upward trend in services - 16.2% and the trading sector - 14 , 2%,  followed by the industrial sector - 8.3%, the energy complex - 5.2%  and the construction sector - 1.3%. A year earlier, in September  2016, by September 2015, growth was recorded only in the services  sector - 8.6% and industry - 6.1%, while the other sectors were  distinguished by a recession: the agricultural sector - 19.5%,  construction - 17.3% %, trade - 0.1%, energy complex - 11.1%.

According to statistical data in Jan-Sep 2017, in absolute terms  leadership is held by the trade sector with a volume of 1.8 trillion  AMD($ 3.7 billion). The industrial sector is on the second place with  1.2 trillion ($ 2.5 billion), the services sector at 1.04 trillion  AMD ($ 2.2 billion), the fourth - 582.5 billion AMD ($ 1.2 billion),  and the fifth - the construction sector - 220.3 billion AMD ($ 456.5  million). The volume of electricity generation in Jan-Sep 2017 was  5745.2 million kWh, of which 622.1 million kWh. - Only in September.

At the same time, Armenia's foreign trade turnover in  January-September 2017 was 2106.1 billion AMD ($ 4,367.5 million)  with an annual growth of 21.7%. In its structure, the volume of  exports has undergone annual growth of 19.1% to 745.9 billion AMD ($  1546.7 million), and imports - an annual growth of 23.2% to 1360.2  billion AMD ($ 2820.8 million). A year earlier, in January-September  2016, foreign trade turnover increased by 5.7% due to an increase in  exports by 19.6% with a decrease in imports by 0.8%. By comparison,  in Jan-Sep 2015, Armenia's foreign trade turnover has experienced an  annual decline of 20% due to a drop in imports and exports,  respectively, by 26.6% and 0.9%. In September 2017 by September 2016  Armenia's foreign trade turnover increased by 23.1% due to the growth  of imports by 29.1% and more modest growth in exports - by 11.7%.  Only in September 2017, Armenia's foreign trade turnover increased by  10% due to an increase in imports by 22%, with a decrease in exports  of 9.6%.

POST A COMMENT
Input digits     


News
Ameriabank leads Armenian mortgage marketAmeriabank leads Armenian mortgage market
Global Finance: Converse Bank is Armenia`s leading bank in Trade FinanceGlobal Finance: Converse Bank is Armenia`s leading bank in Trade Finance
Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year 
Wizz Air to start operating flights to 4 new routesWizz Air to start operating flights to 4 new routes
ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.
Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call 
Armenia`s IT sector rapidly developing - reps Armenia`s IT sector rapidly developing - reps 
Armenia, Qatar discuss opportunities for investment cooperation Armenia, Qatar discuss opportunities for investment cooperation 
44,929 more officially registered jobs in Armenia as against last  year44,929 more officially registered jobs in Armenia as against last  year
Italian businesses interested in Armenia`s investment environment Italian businesses interested in Armenia`s investment environment 
Vahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in BerlinVahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in Berlin
Corporacion America  CEO expresses readiness to increase investments  in ArmeniaCorporacion America  CEO expresses readiness to increase investments  in Armenia
Loss ratio in CMPTL market decreased from 79% to 66% in 2022 Loss ratio in CMPTL market decreased from 79% to 66% in 2022 
Armenian banks record 3-fold growth in net profit in 2022Armenian banks record 3-fold growth in net profit in 2022
901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022
Armenia`s economy will not be able to withstand the expansion of  Turkish goods- EconomistArmenia`s economy will not be able to withstand the expansion of  Turkish goods- Economist
Armenia`s government to support hotels in Syunik, Vaiots DzorArmenia`s government to support hotels in Syunik, Vaiots Dzor
In Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or moreIn Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or more
Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  
Armenia, Germany discuss number of issues on cooperation in economic  sectorArmenia, Germany discuss number of issues on cooperation in economic  sector
$350mln to invested in Zvartnots International Airport$350mln to invested in Zvartnots International Airport
Declaration of income: We have not achieved tax egalitarianism -  ExpertDeclaration of income: We have not achieved tax egalitarianism -  Expert
In Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- PashinyanIn Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- Pashinyan
Irakli Garibashvili announces about 70% increase in foreign trade  turnover with ArmeniaIrakli Garibashvili announces about 70% increase in foreign trade  turnover with Armenia
The beneficiary of The beneficiary of "The Power of One Dram" in January is the educational program "Talentum"
Fly Arna airline announces launch of new nonstop flights to Saint  PetersburgFly Arna airline announces launch of new nonstop flights to Saint  Petersburg
Vardan Aramyan: With the current quality and level of investments,  there is no need to talk about the growth of the economy`s potentialVardan Aramyan: With the current quality and level of investments,  there is no need to talk about the growth of the economy`s potential
Ministry of Economy of Armenia expects that ferry service to start  operating in Q1 2023Ministry of Economy of Armenia expects that ferry service to start  operating in Q1 2023
Armenia`s gross international reserves move down from historical highArmenia`s gross international reserves move down from historical high
Armenia`s tax revenues AMD 1,926bln in 2022Armenia`s tax revenues AMD 1,926bln in 2022
Robert Khachatryan: receiving station and satellite control center to  be put into operation during 2023Robert Khachatryan: receiving station and satellite control center to  be put into operation during 2023
Armenia extending restrictions on import of cement and clinkerArmenia extending restrictions on import of cement and clinker
New Year in Idram. results of 2022New Year in Idram. results of 2022
Ameriabank named Best Foreign Exchange Bank in Armenia by Global FinanceAmeriabank named Best Foreign Exchange Bank in Armenia by Global Finance
Economic growth in 2022 is not inclusive and leads to widening of  social gap - Luys FoundationEconomic growth in 2022 is not inclusive and leads to widening of  social gap - Luys Foundation
In 2022, social investments of Zangezur Copper-Molybdenum Plant  amounted to about 3.5 billion dramsIn 2022, social investments of Zangezur Copper-Molybdenum Plant  amounted to about 3.5 billion drams
Tariff for final consumers of electricity in Armenia will remain  unchanged in 2023Tariff for final consumers of electricity in Armenia will remain  unchanged in 2023
CBA to put into circulation new batch of 3rd generation thousandth  banknotes from January 23, 2023CBA to put into circulation new batch of 3rd generation thousandth  banknotes from January 23, 2023
Vahan Kerobyan: Unemployment rate in Armenia in 2023 will be below  10%Vahan Kerobyan: Unemployment rate in Armenia in 2023 will be below  10%
$56mln recovered to state budget in 2022$56mln recovered to state budget in 2022
CBA improves net private transfers forecast for 2022CBA improves net private transfers forecast for 2022
CBA improves unemployment forecast for 2022 CBA improves unemployment forecast for 2022 
RF Deputy Minister: financial institutions of Russia, Armenia are  expanding  network of correspondent relationsRF Deputy Minister: financial institutions of Russia, Armenia are  expanding  network of correspondent relations
Vahan Kerobyan: Number of labor migrants to reduce significantly next  yearVahan Kerobyan: Number of labor migrants to reduce significantly next  year
EDB analysts expect 12% growth in mutual trade in EAEU by end of 2022EDB analysts expect 12% growth in mutual trade in EAEU by end of 2022
Analyst: Global confrontation between West and Russia urgently  dictates the acceleration of integration processesAnalyst: Global confrontation between West and Russia urgently  dictates the acceleration of integration processes
Minister of Economy voices main risks to achieve economic growthMinister of Economy voices main risks to achieve economic growth
Final phase of ADB-financed bypass road program startsFinal phase of ADB-financed bypass road program starts
Deputy Prime Ministers of Armenia, Russia took part in solemn  ceremony of commemorative cancellation of stamp on establishment of  diplomatic relations between countriesDeputy Prime Ministers of Armenia, Russia took part in solemn  ceremony of commemorative cancellation of stamp on establishment of  diplomatic relations between countries
First stage of work under First stage of work under "Engineering City" program has been  successfully completed
Deadlines for submission of income declarations by individuals have  been changedDeadlines for submission of income declarations by individuals have  been changed
Armenia, Netherlands discuss new opportunities for cooperation in  technological fieldArmenia, Netherlands discuss new opportunities for cooperation in  technological field
Over 700,000 officially registered employees in Armenia Over 700,000 officially registered employees in Armenia 
Armenian Parliament elects CBA Deputy Governor and new member of CBA  Board Armenian Parliament elects CBA Deputy Governor and new member of CBA  Board 
IFC, Amundi-Acba Launch Partnership to Increase Investment in Armenia’s InfrastructureIFC, Amundi-Acba Launch Partnership to Increase Investment in Armenia’s Infrastructure
Structural reforms more urgent amid significant uncertainty – IMFStructural reforms more urgent amid significant uncertainty – IMF
Experts: Armenia`s energy security is key component of national  securityExperts: Armenia`s energy security is key component of national  security
Vahe Hovhannisyan appointed new Minister of Finance of ArmeniaVahe Hovhannisyan appointed new Minister of Finance of Armenia
First in Armenia. IDBank presents Visa Travel card for travel loversFirst in Armenia. IDBank presents Visa Travel card for travel lovers
Structural reforms more urgent amid significant uncertainty – IMFStructural reforms more urgent amid significant uncertainty – IMF
Read more


Exchange rates
27.01.2023
RUB5.71-0.02
USD396.020.37
EUR431.27-0.19
GBP490.04-0.21
CAD297.401.83
JPY30.510.01
CNY58.490.05
CHF430.13-0.77