Monday, June 7 2021 13:09
Karine Melikyan

Economic activity in Jan-April 2021 increased by 2.6% per annum in  Armenia

Economic activity in Jan-April 2021 increased by 2.6% per annum in  Armenia

ArmInfo. In Armenia, economic activity in January-April 2021 increased by 2.6% per annum (against a 1.7% decline a year earlier), against the backdrop of an increase in   exports and imports by 16.7% and 2.2%, respectively. According to the  preliminary data of the Statistical Committee of the Republic of   Armenia, in the sectoral breakdown, growth was demonstrated by all   sectors, except for the service sector, and data on the agricultural   sector are published in the statistical report only on a quarterly   basis.

An improvement in the y-o-y dynamics (January-April 2021 versus  January-April 2020) was observed in the trade sector with an exit   from the 8.6% decline to 4.8% growth, in the construction sector -   from a 21.9% decline to 20.3% growth. At the same time, the  industrial sector and the energy complex, which kept their growth,  slowed down somewhat from 4.2-10.3% to 0.9-3.1%. And the service  sector, which showed a slowdown in growth to stagnant 0.1% a year  earlier and then lost in volume, in the reporting period of this year   still lingered in a decline of 2.9%.

In April 2021 versus April 2020, economic activity increased by  23.2%, against a decline of 17.2% in April 2020 to April 2019. Growth  was observed in all sectors: construction - 87.7%, trade - 47.8%,   industrial sector - 16.9%, service sector - 15.4%, and energy complex   - 9%. A year earlier, in April 2020 by April 2019, these areas were   in decline: construction - 50.9%, trade - 33.1%, services - 15.9%,   industrial sector - 8.6% and energy complex - 3.3% .

And in April 2021 alone, economic activity increased by 3.2%, against  a decline of 13.5% in April 2020.  On a monthly basis, almost all  industries grew: the industrial sector - 2.1%, the service sector -   1.2%, the construction sector - 1.1%. The trade sector lingered in   the recession - with a noticeable slowdown to 0.2%, and the energy   complex - with an acceleration of up to 13%. To note for comparison   that a year earlier, in April 2020, all industries were in decline:   the construction sector - by 40.6%, the trade sector - by 29.4%, the  service sector - by 11.2%, the industrial sector - by 9.2% and the   energy complex - by 5.6%. 

The industrial product price index increased in January-April 2021   compared to the same period in 2020 by 8.1%, in April 2021 compared   to April 2020 - by 11%, and in April 2021 alone - by 0.4%. A year   earlier, a similar dynamics was observed in the industrial product   price index: in January-April 2020 compared to the same period of   2019 - an increase of 0.1%, in April 2020 versus April 2019 - an   increase of 0.8%, and in April 2020 alone- decline by 1.2%. 

The consumer price index increased in January-April 2021 to the same   period in 2020 by 5.4%, in April 2021 compared to April 2020 - by   6.2%, and in April 2021 alone - by 1.3%, while as a year earlier, in   the same periods, a miserable growth was recorded:  0.1% per annum   (for January-April) and 0.9% (both for the month and for the year).

According to the statistics for January-April 2021, the absolute   leadership is held by the trade sector with a volume of 918.9 billion   drams ($ 1.8 billion). The industrial sector is in second place -   650.8 billion ($ 1.2 billion), in the third place is the service   sector - 551.02 billion drams ($ 1.1 billion), and in fourth place,   due to the lack of data on the agricultural sector, is the   construction sector - 69.4 billion drams ($ 132.3 million). The  volume of electricity generation amounted to 2,753 million kWh in   January-April 2021, of which 640.1 million kWh in April alone.  At   the same time, Armenia's foreign trade turnover in January-April 2021   grew by 7.2%, amounting to 1.14 trillion drams ($ 2.2 billion). In   its structure, exports turned towards growth - by 16.7% to 429.7   billion drams ($ 818.7 million), and imports - by 2.2% to 709.6   billion drams ($ 1.4 billion). In April 2021 alone, foreign trade   turnover increased by 12.9%, due to an increase in exports by 11.9%   and imports by 13.6%, and compared to April 2020, the growth of   foreign trade turnover by 47.5% was largely due to a jump in exports   by 64.3% and a less impressive growth in imports by 39.1%. A year   earlier, in January-April 2020, Armenia's foreign trade turnover   decreased by 10.4% per annum, in particular, exports - by 8.1% and   imports - by 11.5%, in April 2020 alone, the decline in foreign trade   turnover by 15.3% proceeded from an almost identical decline in   exports and imports - by 15.5% and 15.2%, respectively, and compared   to April 2019, these indicators were in a more impressive decline -   28.4%, 30.3% and 27.4%, respectively ... 

The average calculated AMD exchange rate in April 2021 was 525.62 AMD   / $ 1, and in January-April 2020 - 524.50 AMD / $ 1, against 488.66   AMD / $ 1 - in April 2020 and 483.90 AMD / $ 1 - in January- April   2020.  It should be noted that according to the WB forecasts for   2021, the GDP growth of Armenia will be 3.4%, the growth of exports   and imports - 8.7% and 8.3%, respectively. The IMF predicts 1% GDP   growth in Armenia for 2021. According to the forecast of the Central   Bank of Armenia, GDP growth in 2021 will amount to 1.4%, but this   level is planned to be revised in June. On foreign trade, the Central   Bank predicts export growth by 1-3% and import decline by 2-4% for   2021. The state budget of the Republic of Armenia for 2021 provides   for a GDP growth of 3.2%. According to the updated statistics, the   decline in Armenia's GDP in 2020 amounted to 7.4%.


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