In Armenia, service sector by October 1, 2017 accelerated rate of annual growth from 8.1% to 12.8%

ArmInfo. In Armenia, the  services sector increased volumes in January-September 2017 by 12.8%  per annum - up to 1 trillion AMD ($ 2.1 billion), against 8.1% growth  a year ago. Only in September the growth was also registered - by  5.9% - to 137.4 billion AMD ($ 287.3 million).

According to Armenian National Statistics service data, the annual  increase in indicators is due to the improvement in the dynamics of  the volume of services in the public catering sector, with an exit  from the 1.9% decline to 19.2% growth, information and communication  - from a 0.5% decline to a 3.8% increase ; acceleration of growth in  healthcare from 2.4% to 16.5%, real estate transactions from 6.6% to  8.2%, administrative and support activities from 0.3% to 8.3%,  financial and insurance business - from 2.9% to 20.4%, other services  in the service sector - from 3.9% to 6.7%. In the sphere of  professional, scientific and technical activities, the rate of  decline slowed from 6.6% to 0.2%. The slowdown in the annual growth  rate of the volume of provided services was observed in the spheres  of culture, entertainment and recreation - from 30.6% to 18.1%,  education - from 4.2% to 1.7%, transport - from 23.8% to 13, 7%.

The financial services sector is leading by 221.8 billion AMD (21.3%  of the total volume), providing an annual growth of 20.4%, with the  lion's share being banks. The second place in the volume of services  is occupied by the sphere of culture, entertainment and recreation -  202.9 billion AMD (19.5% of the total volume) with annual growth of  18.1%. The third place is occupied by the information and  communication sphere - 168.3 billion AMD (16.1%), with an annual  decline of 3.8%, with the main load being in the telecommunications  segment. The fourth place is occupied by the transport sector - 140.3  billion AMD (13.4%), with an annual growth of 13.7%. The top five in  terms of services provided is the sphere of catering and tourism -  79.9 billion AMD (7.7%), with an annual decline of 19.92%.