Tuesday, October 31 2017 12:41
Karina Melikyan

In Armenia, economic activity growth accelerated in the 9 months of 2017 to 5.1% and the drivers became the service, trade and industrial sectors

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 the  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
EventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in TbilisiEventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in Tbilisi
National Geographic recommends visiting Armenia as an attractive  tourist destinationNational Geographic recommends visiting Armenia as an attractive  tourist destination
Pashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementationPashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementation
Projects implemented jointly with Rosatom State Corporation discussed  in ArmeniaProjects implemented jointly with Rosatom State Corporation discussed  in Armenia
Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank GovernorAssessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor
Martin Galstyan: Azerbaijan is not among top 50 remittance  destinationsMartin Galstyan: Azerbaijan is not among top 50 remittance  destinations
Armenian Parliament approves report on  Execution of State Budget for  2023Armenian Parliament approves report on  Execution of State Budget for  2023
Fly Arna staff demand salariesFly Arna staff demand salaries
Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone 
Instant money transfers from Russia to Armenia with the “ФОРА-БАНК” appInstant money transfers from Russia to Armenia with the “ФОРА-БАНК” app
Since 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemenSince 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemen
Armenia`s CB revises GDP growth forecast for 2024 upward Armenia`s CB revises GDP growth forecast for 2024 upward 
Economic entities must not get accustomed to Economic entities must not get accustomed to "cottonwood existence" -  minister
State budget both financial and political document - minister State budget both financial and political document - minister 
Premier was presented with draft strategic employment programPremier was presented with draft strategic employment program
WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 
Martin Galstyan: Under favorable conditions, loan interest rates may  dropMartin Galstyan: Under favorable conditions, loan interest rates may  drop
CBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supplyCBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supply
Central Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of yearCentral Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of year
Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster 
idcoin: New tool in IDBank’s loyalty systemidcoin: New tool in IDBank’s loyalty system
Armenia`s Central Bank continues reducing refinancing rate Armenia`s Central Bank continues reducing refinancing rate 
Income tax on mortgage loans to be abolished in 2029 Income tax on mortgage loans to be abolished in 2029 
About 173 Million Drams and More Than 30 Beneficiary Funds. About 173 Million Drams and More Than 30 Beneficiary Funds. "The Power of One Dram" is 4 Years Old
Armenia to participate in Food Africa-2024 exhibition Armenia to participate in Food Africa-2024 exhibition
EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation 
 Team promotes business education: CaseKey Academy opened Team promotes business education: CaseKey Academy opened
Armenian-Indian business forum held in YerevanArmenian-Indian business forum held in Yerevan
Armenia elected UN Economic and Social Council Member for 2025-2027Armenia elected UN Economic and Social Council Member for 2025-2027
Central Bank identifies two main risks threatening Armenia`s  financial stabilityCentral Bank identifies two main risks threatening Armenia`s  financial stability
Armswissbank issues 3 bonds from the 10th of juneArmswissbank issues 3 bonds from the 10th of june
The Power of One Dram to The Road of Life: July`s Beneficiary is Strong MindThe Power of One Dram to The Road of Life: July`s Beneficiary is Strong Mind
Recent floods in Armenia confirm need to ensure food security -  statementRecent floods in Armenia confirm need to ensure food security -  statement
AraratBank places dollar bondsAraratBank places dollar bonds
Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan 
Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024
OVIO modernizes its sales and service centers in Kapan, Kajaran and  GyumriOVIO modernizes its sales and service centers in Kapan, Kajaran and  Gyumri
EU to allocate EUR11 million for next 5 years to implement R2D Syunik  projectEU to allocate EUR11 million for next 5 years to implement R2D Syunik  project
New sports complex to be constructed in KapanNew sports complex to be constructed in Kapan
Higher-rate economic activity growth in Armenia Higher-rate economic activity growth in Armenia 
 Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes  Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes 
Turnover tax forming unhealthy economic environment should be  abolished - premier Turnover tax forming unhealthy economic environment should be  abolished - premier 
Armenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and BelarusArmenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and Belarus
CBA CBA "accuses" bank clients of "illogical behavior"
Sanosyan: some problems arose during implementation of first landfill  construction projectSanosyan: some problems arose during implementation of first landfill  construction project
Russian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for ArmeniaRussian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for Armenia
YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food productsYOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products
Agriculture is becoming labor reservoir for more efficient service  industry - expertAgriculture is becoming labor reservoir for more efficient service  industry - expert
Part of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientistPart of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientist
EU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandyEU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandy
Use of electric cars and solar energy will limit Armenia`s dependence  on oil and gas marketsUse of electric cars and solar energy will limit Armenia`s dependence  on oil and gas markets
Armenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few monthsArmenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few months
Papoyan: export development strategy is almost readyPapoyan: export development strategy is almost ready
North-South`s construction odyssey: Only 10% of road has been  completed in 12 yearsNorth-South`s construction odyssey: Only 10% of road has been  completed in 12 years
Formation of common energy markets major factor of EAEU development -  Armenian vice-premier Formation of common energy markets major factor of EAEU development -  Armenian vice-premier 
Armenia`s taxpayers carried out 59.9mln transactions worth AMD  1,086blnArmenia`s taxpayers carried out 59.9mln transactions worth AMD  1,086bln
Armenian producers to participate in Sial-2024 exhibition in Paris Armenian producers to participate in Sial-2024 exhibition in Paris 
Armenia requests assistance from European Peace Foundation - FMArmenia requests assistance from European Peace Foundation - FM
Armenian producers to participate in Foodex Saudi-2024Armenian producers to participate in Foodex Saudi-2024
Armenia, Ukraine considering prospects for development of bilateral  economic ties Armenia, Ukraine considering prospects for development of bilateral  economic ties 
Read more
Exchange rates
14.06.2024
RUB4.400.04
USD388.490.45
EUR415.57-3.28
GBP493.58-2.10
CAD282.330.08
JPY24.740.05
CNY53.540.04
CHF434.892.00