ArmInfo. In Armenia, economic activity growth in January-July 2025 slowed down to 7% per annum (from 9.6% in the same period of 2024). Moreover, the industrial sector, which was one of the growth drivers a year earlier, is now weakening the pace of economic growth.
According to preliminary data from the RA Statistical Committee, this decline is accompanied by a deterioration in the foreign trade trend, shifting from a significant growth to a significant decline. According to statistics, the slowdown in economic activity growth in January-July 2025 was largely due to the deterioration in the annual dynamics of the industrial sector, which went from 15.7% growth to a 9.8% decline and a significant slowdown in the growth of the trade sector from 21.4% to 3.9%. There was a slight increase in the already meager growth in the energy complex - from 1.1% to 2.1%. However, the service sector managed to accelerate in annual growth from 4.5% to 10.6%, which was also noted at a more pronounced pace in the construction sector, going from 16.1% to 20.2%. There is no data available on the agricultural sector, as the Statistics Committee only includes them in quarterly and annual reports.
According to statistical data for January-July 2025, the trade sector is leading with a volume of 3.5 trillion. AMD ($9.1 billion). The service sector comes in with 2.2 trillion AMD ($5.6 billion), followed by the industrial sector - 1.5 trillion AMD ($3.8 billion)/ Due to a lack of data on the agricultural sector, the construction sector occupies the forth place- 293.3 billion AMD ($751.5 million). The volume of power generation in January-July 2025 amounted to 5097.9 million kWh, of which 772.3 million kWh in July alone. At the same time, in July 2025, compared to July 2024, economic activity accelerated in growth to 9.1% (from 6.2% a year earlier), and in July alone, growth slowed from 8.7% to 5.5% (compared to a more pronounced growth slowdown in July 2024 from 11.1% to 5.6%). In July 2025, the growth of the industrial sector accelerated from 2.5% to 7.4%, while a year earlier, the dynamics exited from a 2.5% decline to 2% growth. At the same time, in July, the construction sector experienced a slowdown in growth from 21.1% to 15.2%. The services sector saw a slight acceleration from 1.1% to 1.8%. In July, the energy sector experienced a significant acceleration in growth from 6.3% to 25.3%, and the trade sector also saw growth acceleration from 6.2% to 8.4%. In annual terms (July 2025 to July 2024), all sectors experienced growth: the highest annual growth was shown by the construction sector - 26.1%, followed by the services sector - 11.1%, the energy complex - 10.3%, the industrial sector - 4.2%, and the trade sector - 3.8%. A year earlier, all sectors also showed growth: the construction sector - by 17.7%, the trade sector - by 14%, the services sector - by 4.9%, the energy complex - 4.7%, and the industrial sector - by 2.2%. Against this backdrop, Armenia's foreign trade turnover in January-July 2025 amounted to 4.5 trillion drams ($11.5 billion), a decrease of 41.4% per annum (compared to 95% growth a year ago). This is due to a significant drop in both exports and imports - by 48.3% and 35.8% per annum, respectively, while last year both indicators showed significant growth - 2.2 times (exports) and 79.1% (imports). As a result, the absolute value of exports for January-July 2025 amounted to 1.8 trillion drams ($4.5 billion), and imports - 2.7 trillion drams ($6.99 billion). In July 2025, compared to July 2024, foreign trade turnover fell by 14.3% due to a decrease in both exports by 10.8% and imports by 16.5%, while a year earlier in July 2024, compared to July 2023, foreign trade turnover showed growth of 35.3% due to an increase in exports by 42.8% and imports by 30.7%.
Note that since 2023, the methodology for calculating the volume of generated electricity has changed in statistical reports. Specifically, the volume of power generated by autonomous producers is now being taken into account. Data for the agricultural sector are only published in quarterly and annual statistical reports. (The average calculated exchange rate of the dram in January-July 2025 was AMD 390.27 / $ 1).
