ArmInfo. In January-October, 2021, Armenia`s services sector recorded a 6.4% growth as compared with the corresponding period last year (against a 12.8% decline in the previous period) - up to AMD 1,525bln ($3bln). This October, however, the services sector recorded a 1.5% decline, with its turnover totaling AMD 168bln ($350mln).
The services sector recorded growth in all the aspects except for culture, recreation and entertainment.
Specifically, public catering recorded a 65.8% growth against the 48.2% decline, the education sector, an 8% growth against an 11.4% decline, the healthcare sector a 44.2% growth against 5.7% decline, real property business, a 27.7% growth against a 12.8% decline, transport, a 25.2% growth against 33.8% decline, management and support activities, a 19.4% growth against a 44.3% decline, professional and technical activities, a 12% growth against a 9.4% decline. The information and communication sector recorded an annual growth from 7.2% to 11.5%, whereas the financial and insurance sector`s growth went down from 8% to 2.5%.
Culture, recreation and entertainment services recorded an accelerated decline from 11.8% down to 35.3%.
The financial sector is the leader in terms of services - AMD 390.4bln (25.6% of the total services), with the banks` share being the largest. The information and communication sector ranks the second - AMD 262.3bln (12.6% of the total services), with telecommunications segment`s share being the largest. Culture, recreation and entertainment services rank the third - AMD 192.8bln (12.6%), followed by transport (AMD 177.9bln or11.7%) and public catering and tourism (AMD 1148.6bln or 9.7%).
In October 2021, the average exchange rate was AMD 479.25/$1, and in January-October 2021, AMD 508.24 /$1.
