Monday, October 7 2019 20:44

ArmInfo.In Armenia, economic activity in January-August 2019 increased by 7% per annum (almost repeating last year's growth of the same period), against the  background of a 4.6% growth in exports. In August this year versus  August 2018, economic activity increased by 7.6%, and in August 2019  alone- by 7.2%. A year earlier, in January-August 2018, against the  same period of 2017, economic activity increased by 7.7%, in August  compared with August 2017 - by 0.6%, and in August 2018 alone - by  7.9%.

According to final data of the Statistical Committee of the Republic  of Armenia, the service sector was the driver of economic activity  growth in January-August 2019- 15.5% per annum, the industrial sector  - 9.5%, the trade sector - 9%, the construction sector - 4.4%, and  the energy complex was in decline - by 3.5%.  Starting from 2019,  statistical data on the agricultural sector are published only  quarterly. A year earlier, in January-August 2018, the growth of  economic activity was largely determined by the services sector - by  18.9% per annum, the trade sector - by 9.7%, the construction sector  - by 8.5%, against which the growth of the industrial sector and the  energy sector looked modest - by 4.4% and 1.3%, respectively, and the  agricultural sector significantly slowed the y-o-y decline to 1%.

The industrial production price index increased in January-August  2019 compared to the same period in 2018 by 0.2%, in August 2019  compared with August 2018 - by 1.9%, and in August 2019 alone - by  1.4%.  A year earlier, in January-August 2018 compared to the same  period in 2017, the industrial production price index increased by  2.8%, in August 2018 compared with August 2017 it decreased by 0.9%,  and in August 2018 alone  it fell by 1.2%.

In monthly terms (in August), the construction sector gave a decisive  impetus to the growth of economic activity, having increased volumes  by 16.7% (against growth by 17% in August 2018), and to a lesser  extent the energy complex - by 6.9% (against decline 2% in August  2012). Relatively modest growth was demonstrated in August by the  trade sector, the service sector and the industrial sector - 3.4%,  1.2% and 0.2%, respectively. The trade and the service sector almost  repeated last year's August growth (4.4% and 1 , 7% respectively),  while the industrial sector a year earlier in the same month was in  decline (2.6%).  In y-o-y terms (August 2019 versus August 2018), the  largest growth was recorded in the industrial sector - 16.8% and the  services sector - 15%, a more modest increase in the retail sector -  9%, energy sector - 6.8% and construction sector - 3.9 % A year  earlier, in August 2018 compared to August 2017, the growth was  registered in the services sector - 20.5% and the retail sector -  14.7%, followed by industry - 5.4%, energy complex - 4.4% and the  construction sector - 1.6%, while the agricultural sector showed a  decline - by 16.7%.

According to statistical data, in January-August 2019, the trading  sector with the volume of 1.99 trillion drams ($ 4.1 billion) holds  leadership in absolute terms. Service sector is on the second  place-284 trillion drams ($ 2.7 billion), the industrial sector was  on the third place - 1.260 trillion ($ 2.6 billion), and the fourth,  due to lack of data on the agricultural sector, was the construction  sector - 208.2 billion drams ($ 431.9 million) . The volume of  electricity generation in January-August 2019 amounted to 5007.7  million kWh, of which in August alone - 705.3 million kWh.

At the same time, the foreign trade turnover of Armenia in  January-August 2019 amounted to 2334.2 billion drams ($ 4844.3  million) with a y-o-y growth of 2%. In its structure, export volume  has undergone y-o-y growth of 4.6% to 7779.7 billion drams ($ 1660.2  million), while imports - by 0.7% to 1534.5 billion drams ($ 3,184.1  million). In August 2019 alone, foreign trade turnover decreased by  1.6%, due to a decline in imports by 2.8% with an increase in exports  by 0.6%, and compared with August 2018, an increase in foreign trade  turnover by 2.5% was triggered by an increase in exports by 13.5%  with a decline in imports of 2.8%. A year earlier in January-August  2018, an increase in the foreign trade turnover of Armenia by 26.4%  was triggered by a rise in exports by 16.5% and imports by 32%. In  August alone foreign trade increased by 5.9% due to an increase in  exports by 6,4% and imports by 5.7%, and compared with August 2017,  foreign trade turnover grew by 21.2% mainly due to an increase in  imports by 30.9% with an increase in exports by only 5%.

The average settlement rate of AMD in August 2019 was 476 AMD / $ 1,  and in January-August 2019 - 482.19 AMD/ $ 1, against 482.43 AMD/ $ 1  - in August 2018 and 482.01 AMD / $ 1 - in January- August 2018.