ArmInfo."We are closing the year 2019 with a good mood," RA Prime Minister Nikol Pashinyan stated at a meeting of the Armenian government on December 26.
Referring to the data of the National Statistics Committee, published yesterday, the Prime Minister emphasized that in November a record growth of economic activity of 10.1% was recorded. It is very important, Nikol Pashinyan continued, that the growth of export volumes was no less impressive, which amounted to 25.7%, the trade turnover increased by 11.9%, the volume of services - by 11.6%, the construction sector - by 4.8%.
No less impressive, the Prime Minister continued, were the results of 11 months. In January-November 2019, the growth in economic activity was at the level of 7.5%. The industry recorded growth of 9.3%, export volumes increased by 9%.
All these indicators, as the head of government emphasized, indicate that the ideology that is laid in the basis of economic growth, really works.
To note, according to the data of the Statistical Committee of the Republic of Armenia, in Armenia, the growth of economic activity in January-November 2019 accelerated to 7.5% from 5.7% for 11 months of 2018. The growth drivers were the service sector, industrial sector and trade, against the backdrop of a modest rise in the construction sector and a decline in the energy sector. According to preliminary data of the Statistical Committee of the Republic of Armenia, in November 2019 alone there was a decline of 8.5% with a y-o-y increase of 10.1%, while a year earlier the November decline was 10.3% with a y-o-y increase of 3.6%. The y-o-y growth of economic activity in January-November 2019 continues to be supported to a greater extent by the services sector - by 14.8%, the industrial sector - by 9.3% and trade - by 9.2%, and less by construction sector - by 4.5% , while the energy sector declined by 3.4%, against the growth recorded by a year earlier in all these sectors by 18.4%, 4.1%, 9.2%, 5.5% and 2.4%, respectively. For the agricultural sector, only quarterly data are published, but a year earlier, in January-November, an acceleration of decline was noted from 3.9% to 8.1%. The industrial production price index increased in January-November 2019 compared to the same period in 2018 by 0.4%, in November 2019 compared with November 2018 it decreased by 0.6%, and in November 2019 alone increased by 0.5%, against the same dynamics year ago: in January-November 2018 to the same period in 2017- an increase of 1.8%, in November 2018 compared to November 2017 - a decline of 0.1%, and in November 2018 alone- an increase of 1.6%.