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.