Thursday, September 20 2018 16:09

ArmInfo.. In Armenia, economic activity in Jan-Aug of 2018 increased by 7.7% per annum amid 16.5% growth of export.  In August this year versus August 2017, economic activity increased by 0.6%, and in August 2018 alone - by 7.9%. A  year earlier, in January-August 2017, versus the same period of 2016,  economic activity increased by 5.5%, in August compared with August  2016 - by 2.4%, and August 2017 alone - by 18.7%.

According to the preliminary data of the National Statistical Service  of Armenia, the growth of economic activity in January-August of 2018  was mainly caused by the services sector by 18.9%, the trade sector  by 9.7% and the construction - by 8.5%, against which the growth of  the industrial sector and energy sector looked modest - 4.4% and 1.3%  per annum, respectively. At the same time the agricultural complex  continued to decline, however y-o-y decline slackened significantly  from 9,4% to 1%. A year earlier, in January-August 2017, the  industrial sector and service sector demonstrated equal high growth,  by 12,4% per annum, followed by trade-12,3% and energy sector-6,6%,  while agriculture and the construction sector remained in a downward  trend, 9,4% and 8% respectively.

The industrial production price index increased by 2,8% in  January-August 2018 versus the same period of 2017, declined by 0,9%  in August 2018 compared to August 2017, and decreased by 1.2% in  August 2018 alone. A year earlier, in January-August 2017 versus the  same period in 2016, the industrial production price index increased  by 3.7%, in August 2017 as compared to August 2016 - by 3.5%, and in  August 2017 alone- by 0.9% .

In the monthly terms (July), the agrarian sector gave a decisive  impetus to the growth of economic activity, which increased the gross  output by 25,2% (against growth of 65% in August 2017), and to a  lesser extent the construction sector - by 17% (against growth of  11,1% in August 2017). Trade and service sectors demonstrated modest  growth-by 4,4% and 1,7% respectively. In August 2018 industry  declined 2,6% (against 0,9% decline a year earlier), and energy  complex - by 2% (against a decline of 9,2% a year earlier).  In the  y-o-y terms (August 2018 versus August 2017), the highest growth was  recorded in the services sector - 20,5%, trade - 14,7% and industrial  sector - 5,4%, energy complex-4,4% and the construction sector -  1,6%. While agricultural sector registered decline-16,7%. A year  earlier, in August 2017 versus August 2016, the highest growth was  demonstrated by the services sector - 15,5%, followed by trade -  12,4% and the industrial sector - 10,9%, while decline was registered  in energy complex-0,9%, agricultural sector-25% and the construction  sector-5,1%.

According to statistical data in January-Aug of 2018, in absolute  terms leadership is held by the trade sector with a volume of 1.8  trillion AMD ($ 3.7 billion). The industrial sector ranked second in  terms of volume - 1,099 trillion ($ 2,3 billion), the service sector  is the third- 1,092 trillion drams ($ 2,27 billion), the fourth -  agriculture - 464,6 trillion drams ($ 964 million), and the fifth -  the construction sector - 203,5 billion drams ($ 422,3 million). The  volume of electricity generated in January-Aug 2018 was 5188,0  million kWh, of which in August alone - 660,7 million kWh. 

 At the same time, Armenia's foreign trade turnover in January-August  2018 amounted to 2290,7 billion drams ($ 4752,2 million) with a y-o-y  growth of 26.4%. In its structure, the volume of exports has  undergone y-o-y growth by 16,5% to 764,8 billion drams ($ 1586,8  million), and imports - by 32% to 1525,9 billion drams ($ 3165,4  million). In August 2018 alone, foreign trade turnover grew by 5.9%,  due to the growth of imports by 5,7% and exports by 6,4%, and  compared to August 2017, foreign trade turnover increased by 21,2%  mainly due to the growth of imports by 30,9% with the growth of  exports only by 5%. A year earlier, in January-August 2017, foreign  trade turnover increased by 24,4% due to growth in exports by 21.7%  and imports - by 26% (in August alone, trade turnover increased by  0,4%, due toe growth of exports by 3,6% amid drop of imports by 1,4%)  and as compared to August 2016, foreign trade turnover increased by  15,6% mainly due to export growth by 21,8% with import growth of  12,2%.  The average calculated exchange rate of dram was 482.43 dr /  $ 1 in August 2018, and 482.01 dr / $ 1 in January-Aug, compared to  478.61 dr / $ 1 in August 2017 and 483.13 dr / $ 1 in January -Aug  2017.