ArmInfo. In Armenia, the economic growth rate in the first half of 2025 decreased to 6.3% annually (down from 10.4% in the same period of 2024). Additionally, the industrial sector, which was a key driver of growth the previous year, is now slowing down economic growth with a double-digit decline. According to preliminary data from the RA Statistical Committee, this is coupled with a negative shift in foreign trade trend, transitioning from several-fold growth to a significant decline.
According to statistics, the significant slowdown in economic growth in the first half of 2025 was largely due to a decline in the industrial sector's annual dynamics from 18.2% growth to a 12.1% decline, as well as a notable deceleration in trade sector growth from 22.9% to 3.9%. The energy sector also experienced a decrease in growth rate from 5% to a stagnant 0.8%. The service sector saw an acceleration in annual growth from 4.4% to 9.8%, while the construction sector also experienced an increase from 15.7% to 18.5%. The agricultural sector showed an increase in annual growth from 4% to 7.3%. According to statistics for the first half of 2025, in absolute terms, the trade sector led with a volume of 2.95 trillion drams ($7.5 billion), followed by the service sector - 1.8 trillion drams ($4.6 billion), the industrial sector - 1.3 trillion drams ($3.2 billion), the agricultural sector - 316.1 billion drams ($807.8 million), and the construction sector - 224.9 billion drams ($574.7 million). Power generation in the first half of 2025 amounted to 4325.6 million kWh, with 616.2 million kWh generated in June alone.
In June 2025, economic activity accelerated in growth compared to June 2024, with growth reaching 8.6% (up from 7.1% a year earlier). In June alone, growth increased from 5.4% to 8.8% (compared to a more pronounced acceleration of growth in June 2024 from 2% to 11.2%). In June 2025, the growth of the industrial sector slowed down from 2.9% to 2.5%, while a year earlier it experienced a deeper decline from 0.2% to 2.4%. In June, growth in the construction sector slowed from 24.8% to 21.1%, and in the service sector - from 1.8% to 1.3%. There was an improvement in the trade sector - from a 0.9% decline to 6.2% growth, and in the energy complex - from an 11.4% decline to 6.3% growth. In annual terms (June 2025 to June 2024), all sectors, except for the industrial sector, showed growth, with the construction sector leading- 22.6%, followed by the services sector - 8.2%, the trade sector - 2.8%, and the energy complex - 1.7%. In June 2024 to June 2023, all sectors, except the energy complex which declined by 5.3%, experienced growth: the construction sector - by 18%, the trade sector - by 16.2%, the services sector - by 7.8%, and the industrial sector - by 1.4%.
In the first half of 2025, Armenia's foreign trade turnover amounted to 3.8 trillion drams ($9.7 billion), a decline of 45% annually (compared to a 2-fold increase a year ago). This decrease is due to a significant drop in both exports and imports - by 52.8% and 38.6% annually, respectively. In contrast, the previous year saw significant growth in both indicators - 2.3 times (exports) and 86.5% (imports). As a result, the absolute value of exports for the first half of 2025 amounted to 1.5 trillion drams ($3.8 billion), and imports - 2.3 trillion drams ($5.9 billion). In June 2025, compared to June 2024, foreign trade turnover fell by 16.6% due to a decrease in exports by 15.9% and imports by 17.1%, while a year earlier in June 2024, compared to June 2023, foreign trade turnover showed an increase of 34.6% due to a significant increase in exports by 59.9% and a moderate increase in imports by 20.6%.
Note that since 2023, there has been a change in the methodology for calculating the volumes of generated electricity in statistical report. Particularly, the volumes of electricity generated by autonomous producers are now being taken into account. Data for the agricultural sector is published only in quarterly and annual statistical reports. (The average exchange rate of the dram in January-June 2025 was AMD 391.31 /$1).
