Thursday, November 25 2021 17:49
Karine Melikyan

4.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 2021

4.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 2021

ArmInfo.Jan-Sept 2021 saw a 4.3% increase in economic activity against a 6.7% decline last Jan-Sept, with 7.1% increase recorded in Jan-Sept 2019, before the  COVID-19 pandemic. 

According to the preliminary data by the RA Statistical Committee, a  3.6% increase in economic activity had been recorded by October 2020  against an 8.1% the previous year, with a 7.7% pre-COVID-19 increase  recorded. This October alone, a 4.9% decline in economic activity was  recorded (just as last year) against a 12.6% increase this September,  which was also the case in the pre-COVID-19 period 0 a 4.7% decline  in October 2019. 

This January-October, the increase in the economic activity was  mainly due to trade sector (7%), services sector (6.4%) and  construction (5.9%). The industrial sector showed a 1.1% increase,  with a 3.1% decline in the energy sector. The data on the  agricultural sector are available for each three-month period. Last  January-October, the industrial and energy sector were the only ones  to record an annual growth - 0.5% and 1.7% respectively. The other  sector showed a serious decline: construction (13.3%), 12.8% in the  services sector, 12.5% in trade.   

This January-October, the index of prices for industrial products  showed a 9.9% rise as compared with the corresponding period of last  year, with a 10.8% rise this October against last October. In October  2021 alone, a 0.2% rise was recorded against a 2.7% rise the previous  month. Also, last January-October, the index in prices for industrial  products showed a 2% rise as compared with the corresponding period  of 2019, with a 4.1% rise recorded last October as compared with  October 2019. Last October alone, the index showed a 0.7% decline  after a 0.9% rise last September.

This October, the trade and services sector showed a 3.8%-1.5%  decline against a 1.6%-3.4% increase this September. The other sector  showed increase: the industrial sector (up to 9.6% against 5.9% this  September), energy sector (a 5.8% increase against a 4.5% decline  this September), construction (a 4.2% increase against 10.1% increase  this September). Last October, the construction and industry were the  only ones to show increase - 3.2% and 3% respectively, with the rest  sectors showing decline: trade (13.4%), services sector (2.9%),  energy sector (1.8%). 

Annually,  (October 2021 against October 2020), the energy sector was  the only one to show a decline of 6.2% (against a 3% increase last  October). The other sectors showed increase: the services and trade  sectors showed the highest increase - 14.6% and 12.7% respectively;  the industrial and construction sectors showed an increase of 3.9%  and 3.6% respectively. Also, last October against October 2019, the  energy and construction sectors showed an increase (a 0.3% increase  in construction), with the rest sectors recording decline: the  services sector (21%), trade (20.9%), industry (3%).  This  January-October, in absolute figures, the trade sector was the leader  - AMD 2,7bln ($5.3bln), followed by the industrial sector (AMD  1,800bln or $3.6bln), the services sector (AMD 1,500bln or $3bln),  the construction sector (AMD 305.7bln or $601.5mln), with no data on  the agricultural sector. This January-October, the electric energy  output totaled 6,163.2mln kwh, with 582.3mln kwh this October alone. 

This January-October, Armenia`s foreign trade turnover totaled AMD  3,300bln ($6.5bln) - a 13.6% year- on-year increase. Exports totaled  AMD 1,200bln ($2.4bln) - a 16.9% increase. Imports totaled AMD  2,100bln ($4.1bln) - an 11.8% increase. This October, Armenia`s  foreign trade turnover showed higher increase rates - 1.3% up to  12.5% due to a reversal in the exports dynamics - a 16.7% increase  against a 16% decline, with a lower increase in imports - 10.5%  against 12.2%. The 24.1% increase in the foreign trade turnover this  October against last October was mainly due to a 29.4% increase in  imports rather than due to a 14.7% increase in exports. 

Last January-October, an 11.4% decline in Armenia`s foreign trade  turnover was mainly due to a 14.9% decline in imports and a 4.4%  decline in exports. Last October alone, the country`s foreign trade  turnover showed a 4.3% decline due to a 12.9% decline in exports and  a 1.2% increase in imports. However, a 18.5% decline in Armenia`s  foreign trade turnover last October as compared with October 2019 was  due to a 24.3% decline in imports and a 5.4% decline in exports.  

The average exchange rate was AMD 479.25$1 this October, AMD  508.24$1 this January-October against AMD 479.74$1 last October and  AMD 484.96$1 last January-October respectively.


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