Tuesday, October 31 2017 12:41
Karine 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%. 


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