In the first half of 2018 services and construction were drivers of  economic activity, which increased by 8.9% y-o-y 

ArmInfo.In Armenia, economic  activity in the first half of 2018 increased by 8.9% y-o-y at the  background of prevailing growing rates of import compared to export.  In June this year versus June 2017, economic activity increased by  9.6%, and in June 2018 alone increased by 12.4%. A year earlier, in  the first half of 2017, versus the same period of 2016, economic  activity increased by 6.1%, in June compared with June 2016 - by  5.1%, and in June alone - by 9.1%. 

According to the preliminary data of the National Statistical Service   of  Armenia, the growth in economic activity in the first six months  of 2018  was  mainly ensured by the services sector - by 18,1% y-o-y,  the   construction sector - by 13,5%, while the growth of other  sectors was more moderate: the trade sector - by 9,1%,  agricultural  sector-5,5%, industrial sector-3,7% and energy complex- 1,5% y-o-y. A  year earlier, in January- June 2017, the trade sector,  industrial  sector, services and energy complex demonstrated growth- 12,6%,  12.4%, 10,9% and  5,2% y-o-y, respectively, while the agricultural  sector  and the construction sector demonstrated decline - 1,4%  and  10%  respectively per annum.  The industrial production price index  increased by 3.6% in Jan-June 2018 versus the same period of the   previous year, and grew by 4,1% in Jun 2018 compared to Jun 2017. In  June 2018 alone it grew by 2,4%.  A year earlier, in January- June   2017, in comparison with the same period in 2016, the industrial  production price index  increased by 3,8%, in June 2017, compared to   June 2016 - by 4.9%, and in June 2017 alone increased by 0.5% .  

In monthly terms (in June) the economic activity grew due to  agricultural sector (3,2-fold growth versus 3-fold growth in June  2017), the construction sector (by 17,6% against 28% growth a year  earlier), trade sector and services rank next with more moderate  rates-3.8% and 8,4% growth respectively ( versus 10,4% and 4,8%  growth in June 2017). Industrial and energy sector registered 5,8%  and 7,8% growth respectively in June 2018 versus 3,4% and 1% decline  in June 2017. 

In June 2018 versus June 2017 in terms of growth rates, the service  sector and agriculture were leading with 21,2% and 14% respectively,  energy sector ranked next-10,9%, industrial sector, construction and  trade demonstrated more moderate growth-5,6%, 4,2% and 3,3%  respectively. A year earlier, in June 2017 against June 2016, these  fields also demonstrated growth: trade and services-11,9% and 10,1%  respectively, energy  sector-9%, industrial sector and  agriculture-3,8% and 3,4% respectively, while construction field  registered decline-4.3%. 

According to statistical data in January-Jun 2018, the trade sector   held the absolute leading position with the volume of 1.03 billion    AMD ($ 2.6 billion).  The industrial sector held the second place   805,03 billion ($ 1.7 billion), services were the third - 777,8   billion drams  ($ 1.6 billion), agriculture-the fourth - 269,7  billion  drams ($  559,6 million), and the construction sector was  the  fifth 127,8 billion AMD ($ 265,1 million). The volume of  electricity  generated in January-Jun 2018 was 3852,8 million kWh, of  which 615,1  million kWh in June alone.

At the same time, Armenia's foreign trade turnover in January-June  2018 was 1675.7 billion AMD ($ 3476.1 million), with annual growth of   28.9%. In its structure, the volume of exports has undergone annual   growth of 20% to 561.6 billion AMD ($ 1165.2 million), and imports -    an annual growth of 33.9% to 1114.1 billion AMD ($ 2310,9 million).   A year earlier, in January-June 2017, Armenia's  foreign trade  turnover grew by 24% per annum, in particular,  due to growth of  exports - by 21% and imports - by 25,8%. In June 2017 alone the   decline in foreign  trade turnover by 13,4% was conditioned by  decline of  imports - 17,5% and exports by 5,1%, compared with June  2016  trade turnover grew by 25,2% due to raise in both imports and  exports- 29% and 19% respectively.  In  June 2018 alone, foreign   trade turnover declined by 0.9%, due to  the decline in imports - by  6.1% and growth of exports - by 11.1%, and  compared to June 2017,   foreign trade turnover growth by 15,7%,  mainly due to the growth of  imports by 20,8% with an increase in  exports by  6,7%. 

The average calculated exchange rate of AMD was 482.62 AMD / $ in   June 2018, and 482.04 AMD / $ 1 in January-June, compared to  481.52   AMD / $ 1 in June 2017 and 484.57 AMD / $ 1 in January -June   2017.