ArmInfo. In Armenia, the growth of economic activity in January-October 2018 slowed down to 6% from 7% for 10 months of 2017, and the service sector continues to remain its main driver. According to preliminary data from the RA Statistical Committee, in October 2018 alone, a decline of 5% was recorded with a year-over-year growth of 3%, while in 2017 the October decline was 7.5% with a y-o-y growth of 17%.
The growth of economic activity in January-October 2018 was largely supported by the service sector - by 18.5% per annum, and trading sector - by 9.6%, by the construction sector - by 6.5%, industry - by 4.5 % and energy complex - by 1.8%. Against this background, the agricultural sector remained in decline - by 8.9%. A year earlier, in January-October 2017, the service sector, trade, industry and the energy sector showed growth of 13.9%, 12.8%, 12.4% and 5.4%, while the agricultural sector and the construction sector were in a decline - 4 , 1% and 0.9% respectively.
The price index of industrial products increased by 2% in January-October 2018 compared to the same period in 2017, in October 2018 compared to October 2017 it decreased by 0.7%, and in October 2018 alone it increased by 1.6%. A year earlier, in January-October 2017, over the same period of 2016, the price index for industrial products rose by 3.9%, in October 2017 compared to October 2016 - by 5.4%, and in October 2017 alone - by 0.9%.
In monthly terms (in October 2018), the industries that demonstrated growth were the energy complex - 11.1%, industry - 11%, services - 2.8%, construction sector - 1.7%, while the agricultural sector and trade were in decline - 7, 8% and 4.4%, respectively. A year earlier, in October 2017, the agricultural sector was in growth - 4.5%, industry - 3.7%, services - 2.4% and the construction sector - 0.1%, while trade and the power complex were in the negative trend - 1.4% and 8.7% respectively.
In y-o-y terms (October 2018 versus October 2017), the highest growth was recorded in the services sector and energy complex - 16.6% and 15% respectively, followed by the industrial sector - 8.1%, trade - 5.8%, construction - 0.4 %, and the agricultural sector showed a decline of 22.1%. A year earlier, in October 2017 versus October 2016, growth was recorded in the agricultural sector - 34.7%, in the service sector - 22.4%, in the industrial sector - 16.5%, trade - 15.1%, construction - 5.7%, the power complex was the only one in decline - 4.6%.
According to statistical data in January-October 2018, in absolute terms, the leadership is held by the trade sector with a volume of 2.3 trillion drams ($ 4.8 billion). The second place in terms of volume is now occupied by the services sector - 1.427 trillion drams ($ 2.96 billion), displacing the industrial sector to the third position - 1.409 trillion ($ 2.9 billion), agriculture is the 4th -719.7 billion drams ($ 1.5 billion), and the construction sector is the 5th-288.8 billion drams ($ 598.5 million). The volume of electricity generation in January-October 2018 was 6429 million kWh, of which 653 million kWh in October alone.
At the same time, the foreign trade turnover of Armenia in January-October 2018 amounted to 2905.8 billion drams ($ 6.022 billion) with a y-o-y growth of 20.7%. In its structure, the volume of exports has undergone y-o-y growth of 11.7% to 966.9 billion drams ($ 2004.0 million), and imports - a y-o-y growth of 25.8% to 1938.9 billion drams ($ 4018.0 million). In October 2018 versus October 2017, Armenia's foreign trade turnover grew by 11.4% due to growth in exports by 12.1% and imports - by 11%. A year earlier in January-October 2017 foreign trade turnover increased by 22.4% per annum due to growth in exports by 19.4% and imports by 24%. The average exchange rate of dram in October 2018 was 484.93 AMD / $ 1, and in January-October 2018 - 482.49 AMD / $ 1, against 480.74 AMD / $ 1 - in October 2017 and 482.41 AMD / $ 1 - in January- October 2017