Monday, August 5 2019 17:29

ArmInfo. In Armenia, economic activity in H1 2019 increased by 6.5% per annum, against 8.9% growth a year earlier. In June of this year versus June 2018, economic  activity increased by 3.4%, and in June 2019 alone - by 8.2%. To note  for comparison, that a year earlier, the growth rate of economic  activity was higher: in June 2018 versus June 2017 - 9.6%, and in  June alone - 12.4%.

According to the final data of the RA Statistical Committee, the  growth of economic activity in the first half of 2019 was largely  determined by the services sector - by 15.3% per annum, trade - 8.9%,  the industrial sector - 6.9%, and the construction sector is slightly  more modest - 4.7 % Against this background, the agricultural sector  and the power complex turned the dynamics in the direction of  recession - by 7.4% and 5.5% per annum, respectively. A year earlier,  in the first half of 2018, all sectors were in growth, but the most  significant increase was in the services sector - by 18.1%, in the  construction sector - by 13.5% and in the commercial sector - by  9.1%, and relatively modest in the agricultural sector - by 5.5%, the  industrial sector - by 3.7% and the energy complex - by 1.5% per  annum.

The industrial production price index increased by 0.1% in the first  half of 2019 compared to the same period of 2017, in June 2018  compared to June 2017 it decreased by 2.1%, and in June 2018 alone  decreased by 1%. A year earlier, in the first half of 2018, by the  same period of 2017, the price index of industrial products increased  by 3.6%, in June 2018 against June 2017 - by 4.1%, and in June 2018  alone - by 2.4%.  In a monthly terms (June, 2019) a decisive impulse  to growth of economic activity was given by the construction sector  with an increase in volume by 15.9% (against the growth of 17.6% in  June 2018), the power complex - by 11.8% (against a growth of 7.8% in  June 2018), and much more modest trade, industrial sector and  services - 6.4%, 6.3% and 3.8%, respectively (against a rise of 3.8%,  5.8% and 8.4% respectively in June 2018). For the agricultural  sector, the monthly data are not indicated in the statistical report,  but a year earlier in June there was an increase in volume by 3.2  -fold.  In y-o-y terms (June 2019 versus June 2018), in terms of  growth rates, leadership was restored by the industrial sector -  12.8%, displacing the services sector to the second position - 10.2%,  which are followed by trade, the power complex and the construction  sector - 6.7% , 4.8% and 0.6%, respectively. For the agricultural  sector, the dynamics of this period are not indicated in the  statistical report. A year earlier, in June 2018 by June 2017, these  sectors also showed growth, but then the service sector was in the  lead - 21.2%, followed by the agricultural sector - 14%, the power  complex - 10.9%, the industrial sector - 5.6%, construction sector -   4.2% and the commercial sector - 3.3%.  According to statistics in  the first half of 2019, by the absolute volume the trade sector holds  leadership with a volume of 1.4 trillion drams ($ 2.9 billion). The  second place was taken by services - 905.4 billion drams ($ 1.9  billion), displacing the industrial sector to the third position -  900.5 billion ($ 1.8 billion). The fourth place in terms of volume,  as before, is held by agriculture - 247.95 billion drams ($ 512.1  million), and in fifth place - the construction sector - over 131  billion drams ($ 270.6 million). The volume of electricity generation  in the first half of 2019 amounted to 3642.8 million kWh, of which in  June alone- 644.4 million kWh.  At the same time, the foreign trade  turnover of Armenia in the first half of 2019 amounted to 1691.6  billion drams ($ 3,495.2 million) with a y-o-y growth of 0.1%. In its  structure, the volume of exports underwent a y-o-y decline of 0.5% to  568 billion drams ($ 1,173.8 million), while imports increased by  0.5% to 1123.6 billion drams ($ 2321.4 million). In June 2019 alone,  foreign trade turnover increased by 5.5% due to growth in imports by  7.5% and exports by 1.6%, and compared with June 2018, the growth in  foreign trade turnover by 5.9% resulted in more import 8.4%, rather  than export - 1.2%. A year earlier, in the first half of 2018,  foreign trade turnover increased by 28.9% per annum due to export  growth by 20% and imports by 33.9%, and the June decline in foreign  trade turnover by 0.9% was triggered by a decline in imports by 6.1%,  export growth by 11.1%, but compared with June 2017, foreign trade  turnover increased by 15.7% due to the growth of imports by 20.8% and  exports by 6.7%.  The average settlement rate of dram in June 2019  was 478.47 AMD / $ 1, and in the first half of 2019 - 484.16 AMD / $  1, against 482.62 AMD / $ 1 in June 2018 and 482.04 AMD / $ 1 - in I  half 2018.