Thursday, February 1 2018 13:31
Alina Hovhannisyan

In Armenia, the services sector accelerated the growth rate in 2017 to 14.4% from 7.1% in 2016

In Armenia, the services sector accelerated the growth rate in 2017 to 14.4% from 7.1% in 2016

ArmInfo. In Armenia, the service sector is 2017 increased volumes by 14.4% - to 1.4 trillion. drams ($ 3 billion), against 7.1% growth a year earlier. Only in December the service sector provided growth of 10.1% to 142.3 billion drams ($ 294.5 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 sphere of scientific, professional and technical activities - up to 4.4% growth from the 2.8% decline a year earlier and the acceleration of annual growth in public catering services - from 0.1% to 19.4%, crops - from 22.2% to 22.3%, healthcare - from 1.8% to 18.7%, in the real estate market - from 5.8% to 8%, information and communication - from 0.2% to 5.3%, administrative and support activities - from 2.7% to 10.7%, in the financial and insurance sectors from 3.9% to 20.6%. In parallel with this, there was a slowdown in the rate of annual growth in transport - from 17.9% to 14.7% and education - from 4.8% to 0.2%.

The financial services sector is leading in terms of services provided - 302 billion drams (20.8% of the total volume), with the lion's share accounting for banks, with growth of 20.6%. The second place in the volume of services is occupied by the sphere of culture, entertainment and recreation - 284 billion drams (19.6% of the total volume) with annual growth of 22.3%. The third place is occupied by the information and communication sphere - 233.8 billion drams (16.1%) with an annual growth of 5.3%, with the main load being in the telecommunications segment. The fourth place is occupied by the transport sector - 195 billion drams (13.4%), with annual growth of 14.7%. The top five in terms of services provided is the sphere of catering and tourism - 112 billion drams (7.7%), with annual growth of 19.4%.

The average calculated exchange rate of the dram to the US dollar was 483.18 AMD / $ 1 in December 2017, and 482.72 AMD / $ 1 in January-December 2017, versus 482.84 AMD / $ 1 in December 2016 and 480, 49 other / $ 1 in January-December 2016.

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