ArmInfo. In Armenia, the growth of economic activity in January-October 2019 accelerated to 7.1% from 6% for 10 months of 2018, and the main drivers were the services sector, trade and the industrial sector. According to the final data of the Statistical Committee of the Republic of Armenia, only in October 2019 a 4.7% decline was recorded with an annual growth of 7.7%, while in 2018 the October decline was 5% with an annual growth of 3%.
The growth of economic activity in January-October 2019 was largely supported by the services sector - by 15.1% per annum, and to a slightly lesser extent by trade and the industrial sector - by 8.9% and 8.8%, respectively, while in the construction sector the growth slowed down up to 4.5%. The energy complex was in decline - by 2.7%. For the agricultural sector, only quarterly data are published. A year earlier, in January-October 2018, services, trade, construction, the industrial sector and the energy sector showed growth - 18.5%, 9.6%, 6.5%, 4.5% and 1.8%, and the agricultural sector was in decline - 8.9%.
The industrial production price index increased in January-October 2019 compared to the same period in 2018 by 0.5%, in October 2019 compared with October 2018 - it was the same (0.5%), and only in October 2019 it decreased by 0.9% . A year earlier, in January-October 2018, against the same period in 2017, the industrial production price index increased by 2%, in October 2018 compared with October 2017 it decreased by 0.7%, and only in October 2018 it increased by 1.6%.
On a monthly basis (in October 2019), the sectors that showed growth were the industrial sector - 8.8%, the construction sector - 2% and the services sector - 0.4%, and trade and the energy sector were in decline - 1.7% and 6.2% respectively. A year earlier, in October 2018, the energy complex - 11.1%, industry - 11%, the services sector - 2.8%, the construction sector - 1.7%, and the agricultural sector and trade were in the negative trend - 7.8% and 4.4%, respectively.
In annual terms (October 2019 to October 2018), the highest growth was recorded in the services and trade sectors - 12.4% and 10.2%, respectively, followed by the construction sector - 5.1% and the industrial sector - 2.7%, and the energy complex showed a decline of 7.7%. A year earlier, in October 2018 compared to October 2017, growth was recorded in the services sector - 16.6%, energy sector - 15%, industrial sector - 8.1%, trade - 5.8%, construction sector - 0.4%, and in the agricultural sector was a decline of 22.1%. According to statistics in January-October 2019, in absolute terms, the leadership is held by the trading sector with a volume of 2.6 trillion. drams ($ 5.3 billion). The second position is in the services sector with a volume of 1.7 trillion ($ 3.5 billion), and in the third is the industrial sector - 1.6 trillion ($ 3.4 billion). In the fourth place, due to the lack of data on the agricultural sector, the construction sector is located - 296.3 billion drams ($ 616 million). The volume of electricity generation in January-October 2019 amounted to 6253.6 million kWh, of which 603.0 million kWh - only in October.
At the same time, the foreign trade turnover of Armenia in January-October 2019 amounted to 3083.6 billion drams ($ 6417.9 million) with an annual growth of 6.5%. In its structure, the volume of exports underwent an annual growth of 7.2% to 1,030.6 billion drams ($ 2,145.1 million), while imports - an annual growth of 6.2% to 2,053 billion drams ($ 4,272.8 million). In October 2019, by October 2018, the foreign trade turnover of Armenia increased by 11% due to an increase in imports by 15.8% with an increase in exports by 1.3%. A year earlier, in January-October 2018, foreign trade turnover increased by 20.7% per annum due to an increase in exports by 11.7% and imports by 25.8%, and in October 2018 compared to October 2017, an increase in foreign trade turnover by 11.4% was triggered by an increase in exports by 12.1% and imports by 11%.
The average settlement rate of dram in October 2019 amounted to 476.3 dr / $ 1, and in January-October 2019 - 481 dr / $ 1, against 484.93 dr / $ 1 - in October 2018 and 482.49 dr / $ 1 - in January- October 2018