ArmInfo. Along with rather positive trends in economic activity in Armenia, it must be admitted that expectations were much higher. Armenian Minister of Economy Vahan Kerobyan expressed a similar opinion on his Facebook page.
In this regard, referring to the preliminary data of the Statistical Committee, he noted that in May the indicator of economic activity was + 10.9%, and in the period from January to May + 4.3%.
"According to our estimates, the indicator of economic activity was weaker due to the fact that the implementation of the projects had to be postponed due to the new tension of the situation at the border and the elections," Kerobyan said, noting that later he would come up with more detailed explanations.
To note, according to the preliminary data of the Statistical Committee of the Republic of Armenia, economic activity in Armenia in January-May 2021 increased by 4.3% per annum (against a 3.9% decline a year earlier), which is accompanied by an increase in exports and a rise in import growth. In May of this year to May 2020, economic activity increased by 10.9% (against a decline of 12.8% a year earlier), while only demonstrating an increase of 2% in May 2021 (against 13.3% growth in May 2020).
The growth of economic activity in January-May 2021 was largely determined by the construction sector - by 14.3% and the trade sector - by 7.4%, and to a lesser extent - by the industrial sector by 2.3%, the energy complex by 2% and the service sector by 0.9%.
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