Monday, November 20 2017 17:16
Karine Melikyan

In Armenia, economic activity increased by 7% in the first 10 months of 2017, and the drivers were services, trade and industry

In Armenia, economic activity increased by 7% in the first 10 months of 2017, and the drivers were services, trade and industry

ArmInfo. In Armenia, economic activity growth accelerated to 7% in January-October 2017, from an almost stagnating 0.4% in 10 months of 2016, and the drivers were services, trade and the industrial sector. According to preliminary data of the National Statistical Service of Armenia, only in October 2017 there was a decline of 7.5% with an annual growth of 17%, while in 2016 the October recession was impressive - 18.7% with negative annual dynamics of 7.8% .

The growth of economic activity in January-October 2017 continues to be supported by the services sector - by 13.9% per annum, trade - by 12.8% and the industrial sector - by 12.4%. Against this backdrop, the growth of the energy complex looked modest - 5.4%, while the decline in the agricultural sector and the construction sector slowed to 4.1% and 0.9%, respectively. A year earlier, in January-October 2016, the services sector and industry demonstrated a more modest growth of 7.7% and 4.6% respectively, while the remaining sectors were in decline: trade 0.1%, agricultural sector 7.3% The energy complex - 6.3% and construction - 9.8%.

The index of industrial products prices increased by 3.9% in January-October 2017 by the same period of 2016, by 5.4% in October 2017 as compared to October 2016, and by 0.9% only in October 2017. A year earlier, in January-October 2016, by the same period of 2015, the industrial production price index increased by 0.5%, in October 2016, compared to October 2015 - by 5.8%, but only in October 2016 decreased by 1.2%.

On a monthly basis (in October), the sectors showing growth were the agricultural sector - 4.5%, industry - 3.7%, the service sector - 2.4% and the construction sector - 0.1%, and the trade and energy complex were in decline - 1 , 4% and 8.7%, respectively. In October 2016 only the energy complex - 0.7% and the construction sector - 0.5% turned out to be growing, while the other sectors were in the negative trend: the agricultural sector - 27.7%, the service sector - 3%, the industry - 2, 5%, trade - 2.4%.

The highest growth was registered in the agricultural sector (October 2017 by October 2016), 34.7% in the agricultural sector and 22.4% in the services sector, followed by the industrial sector - 16.5%, trade - 15.1%, construction - 5, 7%, and the only industry in the recession was the energy complex - 4.6%. A year earlier, in October 2016, by October 2015, growth was recorded only in the services sector - 4.9%, industry - 2.4% and trade - 0.4%, while the other sectors were distinguished by a recession: the agricultural sector - 29.8 %, construction - 12.2% and energy complex - 4%.

According to statistics in January-October 2017, the absolute value of leadership is held by the trade sector with a volume of 2.02 trillion AMD($ 4.2 billion). In the second place, the industrial sector - 1.3 trillion ($ 2.8 billion), the third - the service sector - 1.2 trillion drams ($ 2.5 billion), the fourth - agriculture - 735.7 billion AMD ($ 1.5 billion), and the fifth - the construction sector - 274.6 billion AMD ($ 569.2 million).  The volume of electricity generation in January-October 2017 was 6313 million kWh, of which 567.8 million kWh only in October. 

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