In Armenia, the service sector by November 1, 2017 accelerated the rate of annual growth from 7.7% to 13.9%

ArmInfo. In Armenia, the services sector increased volumes in Jan-Oct 2017 by the same period of 2016 by 13.9% - to 1.2 trillion AMD ($ 2.4 billion), against the 7.7% growth a year earlier. Only in October there was also registered an increase of 2.4% to 140.6 billion ($ 292.5 million).

According to the National Statistical Service of Armenia, the annual increase in indicators is due to the improvement in the dynamics of the volume of services in the catering sector, with a yield of 0.1% decline in the 19.3% growth, information and communication - from 0.7% 8% growth, professional and technical activity - from 4.3% decline to 0.2% growth, as well as acceleration of growth in healthcare from 2.1% to 16.9%, real estate transactions - from 6.5% to 8.1%, administrative and auxiliary activities - from 1% to 9.8%, financial and insurance activities - from 2.2% to 20.6%. Slowdown in the annual growth rate of the volume of provided services was observed in the spheres of culture, entertainment and recreation - from 28.1% to 21.2%, education - from 4% to 2%, transport - from 23.1% to 14.5%.

The financial services sector is leading by volume of rendered services - 248.6 billion drams (21% of the total volume), 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 - 234.4 billion drams (19.8% of the total volume). The third place is occupied by the sphere of information and communication - 189 billion drams (16%), with the main load coming from the telecommunications segment. The fourth place is occupied by the sphere of transport - 159.4 billion drams (13.5%). The top five in terms of the volume of services provided is the sphere of catering and tourism - 91.8 billion drams (7.8%).