In Armenia, growth of economic activity in Q1 of 2019 slowed down  from 10.6% to 6.5%

ArmInfo. In Armenia, economic activity in Q1 of 2019 compared with Q1 of 2018 increased by 6.5%. According to the final data of the RA Statistical Committee, the  growth sector was the service sector - 17.3%, the construction sector  - 10.8% and the trade sector - 10.1%, against which growth of the  industrial sector looked too modest - 2%, and the agricultural sector  and energy complex showed a decline of 0.2% and 14%, respectively. In  comparison with last year's pace, growth was accelerated in the  service sector, growth slowed down in trade, construction, and the  industrial sector, while the agricultural sector and the energy  complex shifted from growth to recession.

A year earlier, in January-March 2018, by January-March 2017,  economic activity increased by 10.6%, amid growing exports by 34.4%  and imports by 39%. At that time, growth was recorded in all sectors,  but to a greater extent in the construction sector - by 23%, services  - by 16.5% and the commercial sector - by 12.9%, against the  background of a modest growth in the industrial sector - by 8.2%, the  agricultural sector - by 2.2% and the energy complex - by 0.4%.

Meanwhile, in March 2019 compared with February (in monthly terms),  the indicator of economic activity increased by 14.8% (against 16% in  March 2018). Moreover, all industries in the reporting month showed  growth, but the most significant was recorded in the construction  sector.- 61.1%, followed by the industrial sector - 16.1%, the  service sector - 10.8%, the energy complex - 9.3%, trade - 6.7%, and  for the agricultural sector the March data are not available in the  statistical report. A year earlier, in March 2018 compared with  February, the only decline was noted in the energy complex - 9.6%,  while other areas recorded growth: the agricultural sector - 25.9%,  the industrial sector - 17.5%, the services sector - 13.1%, trade -  up to 8.6% and the construction sector - 94.4%.

In the same year (March 2019 to March 2018), economic activity  increased by 6.2% (against 10.9% a year earlier). Moreover, the  service sector had the highest growth, but the movement slowed down  to 16.9% from last year's 18.8%, followed by the commercial sector,  slowing growth from 6.3% to 5.3%. The industrial sector showed a  slowdown in growth - from 8.2% to 2.2%, the energy complex - from  6.9% to 3.4%, the construction sector - from 23.2% to 0.5%, and for  the agricultural sector the data in the statistical report are given.

According to statistics in January-March 2019, in absolute terms, the  leadership is held by the commercial sector with a volume of 651.7  billion drams (over $ 1.3 billion). The industrial sector ranked  second with 423.8 billion ($ 869.8 million), third with the services  sector 421.6 billion drams ($ 865.3 million), fourth with the  agricultural sector 74.8 billion drams ($ 153.6 million), and the  fifth with the construction sector 47.7 billion drams ($ 98 million).  The volume of electricity generation in January-March 2019 was 1814.9  million kWh, of which only in March - 628.2 million kWh. The  industrial price index increased by 0.3% in January-March 2019  compared to the same period last year, increased by 0.7% in March  alone, and increased by 3% compared with March 2018, while  Previously, the dynamics were as follows: in January- March 2018 - an  increase of 3.9% y / y, in March - a decline of 1.7%, compared with  March 2017 - an increase of 2.8%.

At the same time, the foreign trade turnover of Armenia in  January-March 2019 amounted to 793.7 billion drams ($ 1,628.8  million) with y-o-y decline of 5%. In its structure, the volume of  exports has undergone y- o-y decline of 8.6% to 264.6 billion drams  ($ 543 million), and imports - by 3.1% to 529.1 billion drams ($  1085.8 million). In March 2019 alone, foreign trade turnover grew by  8.4% due to the growth of imports by 8.8% and exports by 7.5%. In  March 2019, by March 2018, the meager increase in imports by 0.8% and  the decline in exports by 2.5% reduced the foreign trade turnover by  0.4%. A year earlier, in January-March 2018, the foreign trade  turnover underwent y-oy--growth of 37.4% due to the growth of imports  by 39% and exports by 34.4%; in March 2018, the growth of imports by  6.1% while export remained unchanged ensured an increase in foreign  trade turnover by 4%, compared with March 2017, the growth in foreign  trade turnover by 28% was triggered by a 23.7% rise in exports and  30.3% in imports.

The average settlement rate of dram in March 2019 was 487.48 AMD / $  1, and in January-March - 487.23 AMD / $ 1. According to the  forecasts of the World Bank, GDP growth in Armenia in 2019 will be  4.3% with an acceleration in 2020 to 4.6%. According to the IMF  forecast, GDP growth in Armenia in 2019 will be 4.6% with a slowdown  in 2020 to 4.5%. The Central Bank of Armenia forecasts for 2019 GDP  growth in the range of 4.6-6.1%. In the state budget of the Republic  of Armenia for 2019, GDP growth of 4.9% is laid.