Monday, December 25 2023 13:59

ArmInfo. In Armenia, the price  index of industrial products decreased in January-November 2023  compared to the same period in 2022 to 101.7% from last year's  102.9%. This was observed against the backdrop of a slowdown in  annual growth in the industrial sector from 8.4% to 2.1% - to 2.4  trillion drams ($6.2 billion).

According to statistics, in November 2023, compared to November 2022,  the price index of industrial products, on the contrary, increased to  102.1%, while a year earlier in November 2022, compared to November  2021, this figure was in decline and amounted to 97.9%. During this  period under review, the industrial sector showed a high growth in  volumes of 23.8%, while a year earlier a decline of 2.3% was  recorded. According to statistics, in November 2023 compared to  November 2022, the price index of industrial products, on the  contrary, increased to 102.1% , while a year earlier in November 2022  compared to November 2021, this figure was in decline and amounted to  97.9%. During this period under review, the industrial sector showed  a high growth in volumes of 23.8%, while a year earlier a decline of  2.3% was recorded.

This is accompanied by a slowdown in the growth of economic activity  in Armenia in January-November 2023 from 14.4% to 9.4% per annum, and  in November of this year. by November 2022 - from 13.8% to 11.2%. In  parallel, there is a slowdown in the annual growth of foreign trade  turnover in January-November 2023 to 42.4% from last year's 67.8%, as  a result of a slowdown in the growth of exports and imports from  75.2-63.6% to 44.7-41%. Moreover, in November 2023, compared to  November 2022, the volume of foreign trade stalled in growth much  more noticeably - from last year's 74.5% to the current 48.2% due to  a sharp slowdown in the upward dynamics of imports from 63.9% to 25%,  with a less noticeable a slowdown in export growth from 95.8% to  85.7%. (The average settlement exchange rate for the dram in January-  November 2023 was 391.39 AMD/$1).