Wednesday, August 21 2019 14:49

ArmInfo.Armenia's GDP grew by 20.6% in the 2nd quarter of 2019, and by 6.5% year-on-year, against the 7.2% y-o-y growth in the same period of 2018. According to the  Statistical Committee of the Republic of Armenia, in the first half  of 2019, GDP amounted to 2.7 trillion drams or $ 5.6 billion (against  2.5 trillion drams or $ 5.1 billion a year earlier). Of this amount,  56% or 1.5 trillion drams ($ 3.1 billion) were ensured in the II  quarter of 2019. The GDP deflator index in the second quarter of 2019  amounted to 102.3%, against 104.4% in the second quarter of 2018.

In terms of valumes in the GDP the dominant sectors are the trade  sector, the service sector and the industrial sector, which act as  drivers for y-o-y growth, the service sector holds the lead. In  particular, the service sector slowed down the y-o-y growth rate from  18.1% in the first half of 2018 to 15.3% in the first half of 2019,  which was also observed in the trade sector - from 9.1% to 8.9%. And  the industrial sector, on the contrary, accelerated growth from 3.7%  to 6.9%. Against this background, the growth rate of the construction  sector looked more modest - 4.7%. The energy complex and the  agricultural sector were in decline - by 5.5% and 7.4% respectively,  worsening the dynamics from last year's upward 1.5% and 5.5%  respectively.

Armenia's GDP per capita in the second quarter of 2019 amounted to  500.3 thousand drams ($ 1,040 thousand), against 458.6 thousand drams  ($ 950) in the second quarter of 2018. In the first half of 2019, per  capita GDP amounted to 919.4 thousand drams ($ 1.9 thousand), against  832 thousand drams ($ 1.7 thousand) in the first half of 2018. The  change in this indicator was recorded against the background of a  decrease in the population by 0.3% per annum - up to 2961.6 thousand  people by July 1, 2019, against a similar decrease a year earlier.

The average settlement rate of dram in the first half of 2019  amounted to 484.16 AMD / $ 1, against 482.04 AMD / $ 1 - in the first  half of 2018.

According to the World Bank forecast, the GDP growth of Armenia in  2019 will amount to 4.2%, with an acceleration in 2020 to 4.9%. In  terms of Armenia's foreign trade, the World Bank predicts growth for  2019, with exports accelerating to 8.8%, and imports slowing to  12.2%. According to the IMF forecast, the GDP growth of Armenia in  2019 will amount to 4.6% with a slowdown in 2020 to 4.5%. The Central  Bank of Armenia predicted GDP growth in the range of 5.9-7.4% for  2019, while at the same time expecting growth in imports by 2-4% and  exports by 4-6% in 2019. The state budget of the Republic of Armenia  for 2019 contains a growth of GDP of 4.9%.