Economic activity increased by 7.1% per annum for 9 months of 2019 in  Armenia

ArmInfo.In Armenia in January-September 2019 compared to the same period in 2018 the growth of economic activity accelerated from 6.5% to 7.1%. According to the  final data of the Statistical Committee of the Republic of Armenia,   in September 2019 alone the growth of economic activity amounted to  7.8% with a y-o-y growth of 7.5%, against last year's September  growth of 8.5% and y-o-y growth of 0.2%.

The growth of economic activity in January-September 2019 was largely  determined by the services sector and the industrial sector - by  15.5% and 9.7% per annum, respectively, and to a lesser extent -  trade and construction - by 8.8% and 4.4%, respectively , and in the  energy sector and the agricultural sector a decline of 2.2% and 4.8%,  respectively, was recorded. A year earlier, in January-September  2018, against the same period of 2017, growth was recorded in the  services sector - by 19.1%, trade - by 9.6%, construction - by 7.6%,  the industrial sector - by 4%, and the energy sector- by 0.5%, and  the agricultural sector showed a decline of 4.8%.

The industrial production price index increased in January-September  2019 compared to the same period in 2018 by 0.5%, only in September  2019 - by 1.4%, and compared with September 2018 - by 3.1%. A year  earlier, in January-September 2018, against the same period in 2017,  the industrial products price index increased by 2.3%, only in  September 2018 - by 0.2%, and in September 2018 compared to September  2017 it decreased by 1.1%.

On a monthly basis (in September), the decisive impetus to the growth  of economic activity came from the construction sector - 4.9%  (against 4.4% growth in September 2018) and the services sector -  3.6% (against 5.7% growth in September 2018). The monthly growth of  the remaining areas turned out to be much more modest: the trade  sector and the industrial sector - by 0.6% each (versus 2.1% and 0.6%  growth, respectively, in September 2018). The energy sectorin  September 2019 showed minus dynamics (8.8%), as a year earlier in the  same month (11%).

In y-o-y terms (September 2019 to September 2018), the highest growth  was demonstrated by the services sector and the industrial sector -  15.1% and 11%, followed by the energy sector - 9.3%, trade - 7.5% and  the construction sector - 4.2%. A year earlier, in September 2018  compared to September 2017, growth was recorded in the services  sector - 19.8%, in the trade sector - 8.8%, in the construction  sector - 3.5% and in the industrial sector - 0.9%, and in the  agricultural sector and energy sector was recorded decline - by 17.7%  and 5.5%, respectively.

According to statistical data, in January-September 2019, the trading  sector with the volume of 2.3 trillion drams holds leadership in  absolute terms ($ 4.7 billion). The second place is taken by the  services sector - 1.5 trillion drams ($ 3.1 billion), the third - the  industrial sector - 1.4 trillion ($ 2.9 billion), the fourth -  agriculture - 574.4 billion drams ($ 1.2 billion), and the fifth -  the construction sector - 251.8 billion drams ($ 523 million). The  volume of electricity generation in January-September 2019 amounted  to 5650.6 million kWh, of which 642.9 million kWh - in September  alone.

At the same time, the foreign trade turnover of Armenia in  January-September 2019 amounted to 2712.9 billion drams ($ 5639.6  million) with a y-o-y growth of 5.8%. In its structure, exports  underwent y-o-y growth of 7.9% to 918.3 billion drams ($ 1909.2  million), and imports - y-o-y growth of 4.7% to 1794.6 billion drams  ($ 3730.4 million). In September 2019, by September 2018, the foreign  trade turnover of Armenia increased by 30.1% due to an increase in  exports by 33% with an increase in imports by 28.8%, and in September  2019 alone the increase in foreign trade turnover by 13.1% was  largely triggered by an increase imports by 20.5% than exports with  an increase of only 0.2%. A year earlier, in January- September 2018,  foreign trade turnover increased by 22.4% due to an increase in  exports by 11.6% with an increase in imports by 28.6%. In September  2018 compared to September 2017, the foreign trade turnover of  Armenia decreased by 3.6% due to a decline in exports by 14.8% with  an increase in imports by 2.7%. In September 2018 alone, the foreign  trade turnover of Armenia decreased by 10.1% due to a decline in  exports by 11.6% and imports by 9.3%.

The average settlement rate of the dram in September 2019 amounted to  476.23 dr / $ 1, and in January- September 2019 - 481.52 dr / $ 1,  against 483.82 dr / $ 1 in September 2018 and 482.21 dr / $ 1 in  January- September 2018