ArmInfo. The service sector of Armenia in January-August 2023 maintained double-digit growth, but the y-o-y pace slowed down significantly - from 27.1% to 14.8%. According to the data of the RA Statistical Committee, during the reporting period the service sector provided a volume of 1.9 trillion drams ($5 billion). In August alone, the volume of services provided increased by 4%, amounting to 268.7 billion drams ($695.8 million).
According to statistical data, during the reporting period, the upward trend in the volume of services provided remained in absolutely all areas, with the exception of the financial sector. In particular, the volume of services in the financial sector decreased by 6.2%, while a year ago there was an increase of 43.5%.
In other areas, the volume of services slowed down in growth: catering and organization of tourist accommodation - from 22.3% to 21.9%, culture, entertainment and recreation - from 7.4% to 7.1%, education - from 14.6% to 10.5%, healthcare - from 4.9% to 3.4%, real estate market - from 7.7% to 1.4%, transport - from 37.3% to 30.8%, administrative and support activities - from 22.6% to 6.7%, professional, scientific and technical activities - from 16.1% to 8.6%.
In the information and communications sector alone, y-o-y growth rates accelerated from 32.7% to 51.7%. The financial sector leads in terms of the volume of services provided - 517.1 billion drams (26.4% of the total volume). The second place in terms of volume of services is occupied by the information and communications sector - 413.4 billion drams (21.1% of the total volume),moreover the main volume is provided by the telecommunications segment. The third place is occupied by the transport sector - 267 billion drams (13.6% of the total). The fourth place is occupied by the catering and tourism sector - 204.2 billion drams (10.4% of the total). The TOP-5 in terms of the volume of services provided is closed by the sector of culture, entertainment and recreation - 180 billion drams (9.2% of the total volume).
The average settlement exchange rate for the dram in January-August 2023 was 388.93 AMD/$1, and - 386.17 AMD/$1 in August alone.
