In Armenia, service sector experienced accelerated growth

ArmInfo. In Armenia, the service sector  saw a significant   annual growth rate increase from 5% to 11.5%, generating revenue of 865.3 drams ($2.2 billion) in the first quarter of 2025. According to  data from the RA Statistics Committee, in March alone, the revenue of the service sector also saw an  11.5% increase, reaching 309.2 billion drams ($787.1 million).

Such annual dynamics were provoked by the increased growth in key  areas such as culture, entertainment, recreation, and the financial  sector, along with the transition from a recession to growth in the  information and communication sector. In particular, the culture,  entertainment and recreation sector accelerated in growth from 1.3%  to 3.8%, the real estate sector - from 7.8% to 17.4%, the  administrative and auxiliary activities sector - from 6.9% to 9.8%,  and the financial sector - from 19.5% to 20.1%. In the information  and communications sector, the dynamics shifted from a 2.9% decline  to 18% growth. Meanwhile, a slowdown in growth was recorded in the  following areas: catering and tourism - from 6.6% to 5.1%, education  - from 7.4% to 5.8%, healthcare - from 9.1% to 7.9%, and professional  and scientific activities - from 13.5% to 7.1%. 

In the transport sector, there was a slowdown in the decline from  17.1% to 10.6%. The financial sector leads  in terms of the volume of  services provided, with 284 billion drams (32.8% of the total). The  information and communication sector comes in second, providing  services worth 189.1 billion drams (21.9% of the total). The  transport sector takes third place with 76.3 billion drams (8.8% of  the total). The catering and tourism sector follows in fourth place  with 74 billion drams (8.6% of the total). Closing the top five in  terms of services provided is the culture, entertainment and  recreation sector with 68.6 billion drams (7.9% of the total).

The average exchange rate of the dram in January-March 2025 was AMD  395.42  / $ 1, and in March - AMD 392.78 / $ 1.