Armenia`s service sector revenue rose by 12.4% in the first two months

ArmInfo. In January-February 2025, Armenia's service sector generated revenue of 556.1 billion drams ($1.4 billion), showing an acceleration in  annual growth from 5.2% to 12.4%. According to  the RA Statistical Committee, in February alone, the service sector experienced a decline of 1.3% - to 276.1 billion drams ($698 million).

The improvement in annual dynamics is attributed to the accelerated growth of the dominant segments, including the financial and insurance sectors, real estate transactions, and the shift from recession to growth in the volume of services in  information and communication. In particular, the financial and insurance sector saw growth acceleration from 16.5% to 21.5%, real estate transactions - from 8.8% to 16.3%, and the information and communications sector emerged from a 0.2% decline to 17.7% growth. Growth acceleration  was also observed in  the education sector  - from 6.3% to 7.6%, and in administrative and support activities - from 5.4% to 11.5%.

A slowdown in growth rates was recorded in the catering and tourism sector - from 6.9% to 6.5%, culture, entertainment and recreation - from 3.2% to 1.3%, healthcare - from 10.3% to 7.8%, and professional and scientific activities - from 12.6% to 11.6%. Additionally, a slowdown in the decline was observed in the transport sector - from 15.4% to 8.4%. The financial sector leads in  the volume of services provided - 185.8 billion drams (33.4% of the total). Following closely is the information and communication sector - 120.5 billion drams (21.7% of the total). The transport sector takes the third place- 50.5 billion drams (9.1% of the total), followed by the catering and tourism sector - 46.2 billion drams (8.3% of the total). The top five in terms of services provided is rounded out by the culture, entertainment and recreation sector - 43.3 billion drams (7.8% of the total).  Note that the average exchange rate of the dram in January-February 2025 was AMD 396.74 / $ 1, and in February alone - AMD 395.60  / $ 1.