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%.

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