ArmInfo. In Armenia, economic activity in January-July 2019 increased by 6.8% per annum and the services sector, trade and the industrial sector acted as growth drivers. In July this year By July 2018, economic activity increased by 8.1%, and only in July 2019 - by 12.8%. A year earlier, in January-July 2018, against the same period of 2017, economic activity increased by 9.3%, in July compared with July 2017 - by 11.1%, and only in July 2018 - by 8%.
According to the final data of the Statistical Committee of the Republic of Armenia, the growth of economic activity in January-July 2019 was largely determined by the service sector - by 15.2%, the trade sector - by 8.9% and the industrial sector - by 8.4%. Against this background, the growth of the construction sector looked modest - 4.5%, and the energy complex was completely in decline - by 5%. Starting from 2019, data on the agricultural sector in the reports of the Statistical Committee are published only with quarterly periodicity. A year earlier, in January-July 2018, the service sector showed the highest growth - by 18.7%, the construction sector - by 10.4% and the trade sector - by 8.9%, followed by the agricultural and industrial sectors with a modest increase of 4.6 % and 4.3% per annum, respectively, and the energy complex sharply slowed down the annual growth rate to 0.8% from 7.8% in January-July 2017. The industrial production price index in January-July 2019 did not change compared to the same period in 2018, in July 2019 compared with July 2018 it decreased by 0.7%, and only in July 2019 it decreased by 0.1%. A year earlier, in January-July 2018 compared to the same period in 2017, the industrial production price index increased by 3.3%, in July 2018 compared with July 2017 - by 1.6%, and only in July 2018 - decreased by 1.5%.
On a monthly basis (in July 2019), a decisive impetus to the growth of economic activity was given by: the trade sector - by 9.3%, the services sector - 7.7%, the industrial sector - 6.7% and the construction sector - 5.9%, and the energy complex distinguished by a modest increase of 2.4%. A year earlier (in July 2018), trade showed an increase of 8.1%, the services sector - 3.2%, the industrial sector - 3.4%, the construction sector - 2.2%, the energy complex - 9.3%.
In annual terms (July 2019 to July 2018), the largest growth was recorded in the industrial sector - 16.1% and the services sector - 14.9%, which are inferior in terms of trade - 9.1% and the construction sector - 4.1%, and the energy complex marked a decline of 2.2%. A year earlier, in July 2018 compared to July 2017, the services sector showed the highest growth - 21.8%, then trade followed by margin - 7.7%, the industrial sector - 7.3%, the agricultural sector - 2.1% and the construction sector - 0, 5%, and the energy complex was then in decline - 3.1%.
According to statistical data, in January-July 2019, the trading sector with the volume of 1.7 trillion holds leadership in absolute terms. drams ($ 3.5 billion). In second place in terms of services - 1.086 trillion. drams ($ 2.3 billion), in the third - the industrial sector - 1.079 trillion. drams ($ 2.2 billion), and due to the lack of data on the agricultural sector, the fourth place is occupied by the construction sector - 166.8 billion drams ($ 345.2 million). The volume of electricity generation in January-July 2019 amounted to 4302.4 million kWh, of which only in July - 659.6 million kWh.
At the same time, the foreign trade turnover of Armenia in January-July 2019 amounted to 2025.4 billion drams ($ 4195.5 million) with an annual growth of 2.3%. In its structure, export volume has undergone annual growth of 3% to 684.2 billion drams ($ 1417.5 million), while imports - by 1.9% to 1341.2 billion drams ($ 2,778 million). In July 2019 alone, foreign trade turnover grew by 6.6%, due to an increase in exports by 6.8% and imports by 6.5%, and compared with July 2018, foreign trade turnover increased by 13% mainly due to export growth by 19.5% with an increase in imports by 10%. A year earlier, in January- July 2018, foreign trade turnover increased by 26.8% (only in July - an increase of 1.9%) due to an increase in exports by 17.3% and imports - by 32.1% (only in July imports grew by 4.7% with a decline in exports of 3.8%), and compared with July 2017, foreign trade turnover increased by 14.4%, mainly due to an increase in imports by 22.4% with an increase in exports by only 0.3 %. The average settlement rate of dram in July 2019 was 476.50 dr / $ 1, and in January-July - 483.07 dr / $ 1, against 481.43 dr / $ 1 - in July 2018 and 481.95 dr / $ 1 - in January July 2018