Friday, July 7 2023 17:37

ArmInfo. In Armenia, the services sector is showing double-digit growth, but already with a slowdown, due to a subsidence in the volume of services provided in the real estate market and slowing growth in services in other areas of activity. This is evidenced by the data of the RA Statistical Committee, according to which the service sector in Jan-May 2023, slowed y-o-y growth from 24.9% to 19.9%, providing revenue of 1.170 trillion drams ($2.9 billion), while in May revenues grew by 1.1% - up to 251.3 billion drams ($650.2 million).

According to statistical data, the volume of services provided in the real estate market decreased by 0.6%, while a year ago there was a 17.5% increase. In the line of services in other areas, a slowdown in y-o-y growth rates was registered: culture, entertainment and recreation - from 6.2% to 5.5%, catering and tourism - from 33.1% to 23.8%, education - from 16.8% to 11.6%, healthcare - from 12.6% to 3%, transport - from 45.3% to 35.8%, administrative and support activities - from 26.6% to 3.9% , professional and scientific activities - from 19.5% to 14.3%, and in the financial sector - from 28.5% to 4.7%.  At the same time, the y-o-y growth of information and communication services, on the contrary, accelerated from 27.7% to 58.7%.

In terms of the volume of services provided, the financial sector is leading - 315 billion drams (26.9% of the total volume). The second place in terms of the volume of services is occupied by the information and communication sector - 254.2 billion drams (21.7% of the total volume). The third place is occupied by the transport sector - 149.4 billion drams (12.8% of the total). The catering and tourism is in the fourth place - 112.4 billion drams (9.6% of the total). And the TOP-5  in terms of the volume of services provided is closed by the sectorof culture, entertainment and recreation - 110.6 billion drams (9.4% of the total).  The average settlement rate of the dram in January-May 2023 was 390.41 AMD/$1, and in May 2023 - 386.56 AMD/$1.