Wednesday, December 20 2017 13:44
Karine Melikyan

In Armenia, the economic activity growth for the 11 months of 2017 accelerated from 0.6% to 7.3%

ArmInfo. In Armenia, the growth  of economic activity in January-November 2017 accelerated to 7.3%  from last year's 0.6% in 11 months of 2016, and the drivers were  trade, services and the industrial sector. According to the  preliminary data of the National Statistical Service of Armenia, only  in November 2017 there was a decline of 11% with an annual growth of  9.2%, while a year earlier the November recession was 5% with an  upward annual growth of 2.3%.  The growth of economic activity in  January-November 2017 continues to be supported by trade - 14.4% per  annum, services - by 14.2% and industrial sector - by 12.3%, against  growth by 0.3%, 7.8% and 6 , 8%, respectively, a year earlier. After  them, with a more modest growth rate followed by the energy complex -  4.9% and the construction sector - 0.3%, against the decline,  respectively, by 6.4% and 10.9% a year earlier. The agricultural  sector in January-November retained a downward trend with a slowdown  in annual rates to 3.9% from 6.1% last year.

The industrial production price index increased by 3.9% in  January-November 2017 to the same period of 2016, in November 2017,  compared to November 2016 - rose by 3.6%, but only in November 2017  increased by 0.7%, against last year's growth, respectively, by 1%,  6.9% and 1.8%.

On a monthly basis (in November), the sectors that demonstrated  growth were the construction sector - 13.4%, 12.4%, energy complex -  10% and trade - 0.7% (against growth of 12.4% and 4.7%, decline in  1.6% in November 2016, respectively), while the rest of the sectors  were in the negative trend, with the highest decline recorded in the  agricultural sector - 52.3% (versus the 24.4% decline in November  2016).  The service sector demonstrated a 8.5% decline in November  2017 (versus a 5% decline in November 2016), while the industrial  sector decreased volumes by 0.3% (against 5.7% growth in November  2016).

On an annual basis (November 2017 by November 2016), the decline was  recorded only in the agricultural sector - by 2.1% (against growth of  6.3% a year earlier), while the other spheres were distinguished by  growth: trade - 22.6%, sphere services - 17.6%, industry - 11%,  construction - 6.9%, agricultural sector - 6.3%, energy complex -  0.2%. A year earlier (November 2016 by November 2015), the recession  was recorded only in the construction sector and energy complex - by  17.5% and 7.4% respectively, while the rest spheres were  distinguished by growth: industry - 8.8%, services - 8.7%,  agricultural sector - 6.3%, trade - 3.8%.

According to statistics in January-November 2017, the absolute value  of leadership is held by the trade sector with a volume of 2.3  trillion. drams. The industrial sector is on the second place in  terms of volume - 1.5 trillion, the third - the service sector - 1.3  trillion drams, the fourth - the agricultural sector - 811.7 billion  drams, and the fifth - the construction sector - 324.6 billion drams.  The volume of electricity generation in January-November 2017 was  6937.4 million kWh, of which 624.4 million kWh. - Only in November.

At the same time, Armenia's foreign trade turnover in  January-November 2017 amounted to 2790.4 billion drams ($ 5784.2  million) with annual growth of 26.4%. In its structure, the volume of  exports has undergone annual growth of 23.5% up to 971.4 billion  drams ($ 2013.8 million), while imports - an annual growth of 28% up  to 1819 billion drams ($ 3,770.4 million). A year earlier, in  January-November 2016 foreign trade turnover increased by 8% due to  growth in exports by 21.2% with an increase in imports by 2%. By  comparison, in January-November 2015, Armenia's foreign trade  turnover decreased by 20.6% due to a 26.2% drop in imports with a  4.7% drop in exports.

The average calculated exchange rate of the dram was 485.36 dr / $ in  November 2017, and 482.67 dr / $ 1 in January-November, compared to  478.52 dr / $ 1 in November 2016 and 480.27 dr / $ 1 in January -  November, 480.15 dr / $ 1 - in November 2015 and 477.46 dr / $ 1 - in  January-November 2015.


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