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.   

POST A COMMENT
Input digits     


News
USAID launches $24.5 million Economic Foundations for Resilient  Armenia projectUSAID launches $24.5 million Economic Foundations for Resilient  Armenia project
Armenian-Egyptian business forum to be held in Egypt next FebruaryArmenian-Egyptian business forum to be held in Egypt next February
Armenia, Georgia begin cooperation in food securityArmenia, Georgia begin cooperation in food security
RA state budget expenses increased by almost 15%, share of current  expenses was about 90%RA state budget expenses increased by almost 15%, share of current  expenses was about 90%
Armenia, WB close to signing $150 million loan program for  20  tourism clusters formation - KerobyanArmenia, WB close to signing $150 million loan program for  20  tourism clusters formation - Kerobyan
AraratBank Named Armenia’s Best Sub-Custodian Bank by Global FinanceAraratBank Named Armenia’s Best Sub-Custodian Bank by Global Finance
Armenia`s gross international reserves have fallen from their  historical high since October 2023Armenia`s gross international reserves have fallen from their  historical high since October 2023
Procedure for submitting documents to Police on concluding CMPTL  agreement to be simplified in ArmeniaProcedure for submitting documents to Police on concluding CMPTL  agreement to be simplified in Armenia
Cadastre: Along with 9.4% increase of apartment prices in capital  over year, sale-purchase transactions decreased by 21.6%, and rental  transactions increased by 15.1%Cadastre: Along with 9.4% increase of apartment prices in capital  over year, sale-purchase transactions decreased by 21.6%, and rental  transactions increased by 15.1%
Improved tax-GDP correlation poses risks - Luys foundation Improved tax-GDP correlation poses risks - Luys foundation 
Armenia`s gold reserves to be placed at other agencies` disposal Armenia`s gold reserves to be placed at other agencies` disposal 
Armenian Parliament approves 2024state budget Armenian Parliament approves 2024state budget 
UAE is in TOP-3 of Armenia`s trade partners in terms of export, and  USA in terms of import UAE is in TOP-3 of Armenia`s trade partners in terms of export, and  USA in terms of import 
Memorandums to be signed to allow Armenia to use Iran`s ports Memorandums to be signed to allow Armenia to use Iran`s ports 
The Power of One Dram to the Health Fund for Children of ArmeniaThe Power of One Dram to the Health Fund for Children of Armenia
Armenia increases budget of  servicemen`s housing provision program  with preferential mortgagesArmenia increases budget of  servicemen`s housing provision program  with preferential mortgages
Armenia`s Cabinet to amend North-South Road Corridor agreement with  EIBArmenia`s Cabinet to amend North-South Road Corridor agreement with  EIB
Delay in sale of MTS Armenia was related to research, as it was  directly related to issue of national security: PremierDelay in sale of MTS Armenia was related to research, as it was  directly related to issue of national security: Premier
Armenia should produce high-quality products to have access to many  world markets - KerobyanArmenia should produce high-quality products to have access to many  world markets - Kerobyan
Crossroads of Peace project is bolstered by economic calculations,  Pashinyan assuresCrossroads of Peace project is bolstered by economic calculations,  Pashinyan assures
Problems with supply of Armenian products to Russia were discussed in  MoscowProblems with supply of Armenian products to Russia were discussed in  Moscow
`Always look in mirror before blaming others`: Zakharova on situation  at Upper Lars`Always look in mirror before blaming others`: Zakharova on situation  at Upper Lars
 Armenia`s pensioners to get cash-back without changing accounts next  year Armenia`s pensioners to get cash-back without changing accounts next  year
Reserve Fund planned to be increased next yearReserve Fund planned to be increased next year
Armenia`s budget deficit could be 4.6% of GDPArmenia`s budget deficit could be 4.6% of GDP
Armswissbank participates in the 28th un climate change conference (cop 28)Armswissbank participates in the 28th un climate change conference (cop 28)
Armenia`s Parliament discussing final version of 2024 draft budgetArmenia`s Parliament discussing final version of 2024 draft budget
UNDP launches innovative community initiative in ArmeniaUNDP launches innovative community initiative in Armenia
Armenia could serve as a bridge between India, Iran and EAEU  member-states - Mnastakan Safaryan Armenia could serve as a bridge between India, Iran and EAEU  member-states - Mnastakan Safaryan 
Ministry of Finance intends to delegate powers of management of  precious metals to other government agencies Ministry of Finance intends to delegate powers of management of  precious metals to other government agencies 
EEC discusses situation at Upper Lars checkpoint EEC discusses situation at Upper Lars checkpoint 
Artyom Ghazaryan was appointed CEO of Artyom Ghazaryan was appointed CEO of "Telcell" company
Politics mixed with economy at Upper Lars checkpoint - Gagik Makaryan  Politics mixed with economy at Upper Lars checkpoint - Gagik Makaryan  
Team Telecom Armenia makes NGN network available in Armenia`s SyunikTeam Telecom Armenia makes NGN network available in Armenia`s Syunik
EDB, UNIDO strengthen cooperation in Central Asia and ArmeniaEDB, UNIDO strengthen cooperation in Central Asia and Armenia
Procedure for submitting documents to sign CMPTL contract in Armenia  to be simplified for fined driversProcedure for submitting documents to sign CMPTL contract in Armenia  to be simplified for fined drivers
Vahan Kerobyan: Fly Arna national air carrier needs additional  fundingVahan Kerobyan: Fly Arna national air carrier needs additional  funding
Granatus Ventures co-founder: In Armenia, in the context of creating  startups, we should follow the path of commercialization of  intellectual property productsGranatus Ventures co-founder: In Armenia, in the context of creating  startups, we should follow the path of commercialization of  intellectual property products
Expert: Young scientists do not see opportunities in Armenia to  realize their potentialExpert: Young scientists do not see opportunities in Armenia to  realize their potential
Ardshinbank was recognized as the Bank of the Year in Armenia for the fourth time by The Banker magazineArdshinbank was recognized as the Bank of the Year in Armenia for the fourth time by The Banker magazine
Second co-project of AraratBank and 4090 Charity Foundation to support education for war participantsSecond co-project of AraratBank and 4090 Charity Foundation to support education for war participants
Burden of social payments: RA Burden of social payments: RA "updated budget" 
Situation at the Upper Lars checkpoint was expected - expert Situation at the Upper Lars checkpoint was expected - expert 
Non-financial reporting: Can it exist in Armenia?Non-financial reporting: Can it exist in Armenia?
Don`t believe headlines that world is facing instability because of  Ukraine, Gaza or China- Nassim TalebDon`t believe headlines that world is facing instability because of  Ukraine, Gaza or China- Nassim Taleb
New program to support processing industry enterprises is launched in  Armenia - Ministry of EconomyNew program to support processing industry enterprises is launched in  Armenia - Ministry of Economy
EBRD, EU and Sweden backing Acba Bank with USD 10 million loan for  Armenian women-led firmsEBRD, EU and Sweden backing Acba Bank with USD 10 million loan for  Armenian women-led firms
Armenia sees opportunities to develop country`s economy in tourism -  KerobyanArmenia sees opportunities to develop country`s economy in tourism -  Kerobyan
Armenia is doing everything possible to keep its companies free from  secondary sanctions - ministerArmenia is doing everything possible to keep its companies free from  secondary sanctions - minister
EIB expresses its readiness to discuss with Armenian side prospects  for cooperation on implementation of new projectsEIB expresses its readiness to discuss with Armenian side prospects  for cooperation on implementation of new projects
Civil Aviation Committee has no data on possible withdrawal of Air  Arabia from Armenia`s marketCivil Aviation Committee has no data on possible withdrawal of Air  Arabia from Armenia`s market
Mher Grigoryan appointed member of ERC Board of ManagersMher Grigoryan appointed member of ERC Board of Managers
Road to Upper Lars checkpoint is open for all types of vehiclesRoad to Upper Lars checkpoint is open for all types of vehicles
RA premier receives Amazon Web Services public policy regional  director RA premier receives Amazon Web Services public policy regional  director 
EAEU membership does not hinder Armenia`s exports EU - KerobyanEAEU membership does not hinder Armenia`s exports EU - Kerobyan
Armenia`s Economy Ministry convenes urgent discussion within EAEU on  situation at Upper Lars Armenia`s Economy Ministry convenes urgent discussion within EAEU on  situation at Upper Lars 
Ameriabank to sponsor 100MW of Ameriabank to sponsor 100MW of "green energy" to Armenia`s energy  sector next year
Armenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MPArmenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MP
Converse Bank acts as underwriter for corporate AMD coupon bonds of  Euroterm companyConverse Bank acts as underwriter for corporate AMD coupon bonds of  Euroterm company
Minister: by 2040, volume of electricity production from solar  generation facilities to be increased by another 1,500 MWMinister: by 2040, volume of electricity production from solar  generation facilities to be increased by another 1,500 MW
Read more


Exchange rates
08.12.2023
RUB4.410.06
USD403.24-0.19
EUR434.850.15
GBP507.28-0.68
CAD297.070.12
JPY27.920.06
CNY56.31-0.10
CHF460.85-1.11