Friday, December 29 2017 12:57
Karine Melikyan

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

In Armenia, 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 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%, energy complex - 0.2%. A year  earlier (November 2016 by November 2015), the decline 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 AMD. 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 AMD, 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 AMD ($ 5784.2  million) with an annual growth of 26.4%. In its structure, the volume  of exports has undergone an annual growth of 23.5% to 971.4 billion  AMD ($ 2013.8 million), and imports - an annual growth of 28% up to  1819 billion AMD ($ 3,770.4 million). A year earlier, in  January-November 2016, foreign trade turnover increased by 8% due to  an increase in exports by 21.2% with an increase in imports of 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 AMD / $ in November 2017, and 482.67 AMD / $ 1 in  January-November, compared to 478.52 AMD / $ 1 in November 2016 and  480.27 AMD / $ 1 in January - November, 480.15 AMD / $ 1 - in  November 2015 and 477.46 AMD / $ 1 - in January- November 2015.   

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