ArmInfo.. In Armenia, economic activity in the first half of 2020 decreased by 4.7% per annum, against 6.5% growth a year earlier. In June of this year. by June 2019, economic activity decreased by 7.5%, against an increase of 3.4% in June 2019 to June 2018. And in June 2020 alone, economic activity accelerated growth to 14.8% from 13.3% in May, against a more modest 8.2% growth in June 2019.
According to the preliminary data of the Statistical Committee of the Republic of Armenia, the decline in economic activity in the first half of 2020 would have been more significant if it were not for the growth of the industrial sector, agricultural sector and energy complex - by 1.5%, 1.7% and 4.4% per annum, respectively. At the same time, the service sector, the trade sector and the construction sector lingered in recession - by 6.4%, 11.1% and 23.4% per annum. A year earlier, in the first half of 2019, the growth was in the service sector - by 15.3% per annum, trade - 8.9%, the industrial sector - 6.9%, the construction sector - 4.7%, and the agricultural sector and the energy complex turned towards a decline - by 7.4% and 5.5% per annum, respectively.
The industrial product price index in the first half of 2020 compared to the same period in 2018 increased by 0.7%, in June 2020 compared to June 2019 - by 2.6%, and only in June 2020 - by 0.5%. A year earlier, in the first half of 2019 compared to the same period in 2018, the industrial product price index increased by 0.1%, in June 2019 to June 2018 it decreased by 2.1%, and only in June 2019 decreased by 1%. On a monthly basis (for June 2019), the decisive impetus to the growth of economic activity was given by the construction sector with a growth in volume of 21.6% (against an increase of 15.9% in June 2019), trade - by 14.3% (against an increase of 6 , 4% in June 2019), and the service sector and the industrial sector are comparatively more modest - by 8.2% and 6.3%, respectively (against growth by 3.8% and 6.3%, respectively, in June 2019). The energy complex showed a decline of 3.4% in June 2020, while a year earlier in June, an increase of 11.8% was recorded. For the agricultural sector, monthly data are not indicated in the statistical report.
On an annual basis - in June 2020 to June 2019 - all industries were in decline, with the largest drawdown recorded in the construction sector - by 23.3%, followed by the service sector - by 15.9%, the energy complex - by 13.7% , the trade sector - by 12.4%, and the smallest decline is recorded by the industrial sector - by 2.4%. In the agricultural sector, the dynamics of this period is not indicated in the statistical report. A year earlier, in June 2019, by June 2018, these areas showed growth, and the industrial sector recovered in the leading position in terms of rates - 12.8%, displacing the service sector to the second position - 10.2%, which were significantly inferior to trade, the energy complex and the construction sector - 6.7%, 4.8% and 0.6%, respectively.
According to statistics in the first half of 2020, the absolute leadership is held by the trading sector with a volume of 1.3 trillion. drams ($ 2.6 billion). The second position was restored by the industrial sector - 895.95 billion ($ 1.9 billion), displacing the services sector - 861.7 billion drams ($ 1.8 billion) to the third position. In fourth place in terms of volume, as before, is agriculture - 239.97 billion drams ($ 496.3 million), and the fifth - the construction sector - over 105.8 billion drams ($ 218.8 million). The volume of electricity generation amounted to 3802.1 million kWh in the first half of 2020, of which only in June - 556 million kWh.
At the same time, Armenia's foreign trade turnover in the first half of 2020 amounted to 1514.1 billion drams ($ 3134.2 million) with an annual decline of 10.7%. In its structure, the volume of exports underwent an annual decline of 6.5% to 535.6 billion drams ($ 1108.7 million), but the drop in imports turned out to be more significant - by 12.9% to 978.5 billion drams ($ 2025.5 million). In June 2020 alone, foreign trade turnover increased by 13.7% due to an increase in exports by 14.7% and imports by 13.1%, and compared to June 2019, the decline in foreign trade turnover by 10.2% largely caused imports - 15.2% than exports - 0.5%. A year earlier, in the first half of 2019, foreign trade turnover increased by 0.1% per annum amid a decline in exports by 0.5% and an increase in imports by 0.5%, and the June increase in foreign trade turnover by 5.5% was provoked by an increase in imports by 7 , 5% with an increase in exports by 1.6%, but compared to June 2018, foreign trade turnover increased by 5.9%, largely due to an increase in imports by 8.4%, rather than exports - by 1.2%.
The average calculated AMD exchange rate in June 2020 amounted to 481.27 AMD / $ 1, and in the first half of 2020 - 483.50 AMD / $ 1, against 478.47 AMD / $ 1 in June 2019 and 484.16 AMD / $ 1 in the first half of the year 2019
