Monday, March 25 2019 16:15

ArmInfo.In Armenia, the economic activity in January-February 2019 compared to the same period of 2017 increased by 6.5%, against last year's 8.6% growth. According to  preliminary data of the National Statistical Service of the Republic  of Armenia, the annual growth was provoked to a greater extent by the  construction sector and the services sector. Only in February 2019,  economic activity increased by 9.3%, and compared with February 2018  - by 7.6%, against last year's rising 7.2% in February and 7.3%  compared to February 2017.

According to statistical data, in January-February 2019, the volume  of the construction industry increased by 21.6% per annum, the  services sector - by 17.5%, the trade sector - by 13.1%, against last  year's upward trend, respectively, by 22.7%, 15, 1% and 17.4%.  Against this background, the industrial sector has shown too modest  growth - by 1.9%, against last year's 8.3% growth. The power complex  in January-February 2019 turned towards a 21% decline from last  year's 3.5% growth. Data on the agricultural sector from 2019 will be  published only quarterly, in connection with which they are not  available in the February report, but we note that a year earlier, in  the same period, a decline of 0.1% was recorded.In annual terms  (February 2019 by February 2018), the highest growth was also in the  construction and service sectors - 21.3% and 19.3%, respectively,  against last year's positive 25.1% and 15.4%. After them, the trade  and industrial sectors held upward in the upward trend - 8.3% and  4.7%, respectively, against last year's plus of 17.6% and 3.3%.

 The power complex was delayed in a recession with an acceleration of  downward rates to 14.5% from last year's 0.5%. There is no data on  the agricultural sector, and a year earlier in the same period, an  increase of 0.2% was recorded.The price index of industrial products  declined in January-February 2019 by 1%, with an annual growth of  0.6%, against growth in January-February 2018 by 4.4%, with an annual  growth of 3.6%.In January-February 2019, in absolute terms, the  leadership is retained by the trade sector with a volume of 412.1  billion drams ($ 845.9 million). The service sector ranks second in  terms of services - 268.4 billion drams ($ 551.1 million), the third  place is occupied by the industrial sector - 262.9 billion ($ 539.7  million). This is followed by the construction sector - 25.1 billion  drams ($ 51.6 million). There is no data from the agricultural  sector, which traditionally occupies the fourth position. The volume  of electricity generation in January-February 2019, 1186.7 million  kWh, of which 574.6 million kWh. came in February.At the same time,  the foreign trade turnover of Armenia in January-February 2019  amounted to 492.8 billion drams ($ 1011.9 million) with an annual  decline of 7.7%. In its structure, the volume of exports has  undergone an annual decline of 11.6% to 164.5 billion drams ($ 337.9  million), and imports - an annual decline of 5.6% to 328.3 billion  drams ($ 674 million). Only in February 2019, foreign trade turnover  increased by 28% due to the growth of imports by 25.8% and exports by  32.6%, and in comparison with February 2018, a drop in exports by  8.2% and imports by 2.5% provoked a decline foreign trade turnover by  4.6%. A year earlier, in January-February 2018, foreign trade  turnover underwent an annual growth of 43.2% due to growth in exports  by 41% and imports by 44.4%, and only in February 2018 exports and  imports grew by 19% and 16.3% respectively, led to an increase in  foreign trade turnover by 17.2%.

The average settlement rate of dram in January-February 2019 was  487.10 others / $ 1, and in February 2019 it was 488.41 others / $ 1,  against 481.88 others / $ 1 - in January-February 2018 and 481.37  others / $ 1 - in February 2018 It should be noted that the World  Bank predicts GDP growth in Armenia in 2019 by 4.3% with an  acceleration of the pace in 2020 to 4.6%. In the state budget of the  Republic of Armenia for 2019, GDP growth of 4.9% is laid. As regards  Armenia's foreign trade, the WB forecasts an 8.8% increase in exports  in 2019, with an acceleration of rates in 2020 to 9.4%, and an  increase in imports in 2019 by 12.2% with a slowdown in rates to  11.4%. Recall that the Statistical Committee of the Republic of  Armenia since 2019 stopped publishing monthly data on the  agricultural sector, guided by sub-clause 3.1.2.  "Agriculture  Statistics" of the Compendium of Statistical Requirements of  Eurostat, according to which the EU member states publish statistics  on the agricultural sector with an annual frequency. From now on,  statistics on the agricultural sector of Armenia will be published  only quarterly.