ArmInfo. In Armenia, economic activity in January- October 2025 increased by 8.1% year-on-year (the same as in the same period of 2024). However, this growth was accompanied by a deterioration in foreign trade dynamics, shifting from significant growth to a notable decrease. According to preliminary data from the RA Statistics Committee, the industrial sector, which was a key driver of growth a year earlier, is now experiencing a decline. According to statistics, this economic activity in January-October 2025 was primarily driven by an acceleration in annual growth in the services sector - from 5.8% to 10.8% - and a more significant increase in the construction sector - from 15.5% to 20.6%. There was also a slight acceleration in the energy sector, from 2.8% to 4.2%. Additionally, the annual dynamics of the industrial sector worsened, from 11.7% growth to a 3% decline, and growth in the trade sector slowed significantly, from 18.8% to 3.2%. The statistical report for this period does not include data on the agricultural sector.
According to statistics for January-October 2025, the trade sector maintains the lead in absolute terms, with a volume of 5.3 trillion drams ($13.7 billion). The services sector ranks second with 3.3 trillion drams ($8.6 billion), followed by the industrial sector with 2.4 trillion drams ($6.2 billion). The construction sector ranks fourth, due to the lack of data on the agricultural sector, with 551.4 billion drams ($1.4 billion). Power generation in January-October 2025 amounted to 7,442.2 million kWh, of which 725.8 million kWh was generated in October alone. Moreover, in October 2025, compared to October 2024, economic activity accelerated in growth to 10.1% (from 4.2% a year earlier), and in October alone, the dynamics worsened from 9.8% growth to a 4% decline (compared to October 2024 - from 6.6% growth to a 4.6% decline). It is noteworthy that in October 2025, the industrial sector's growth accelerated significantly from 5.1% to 20.8%, which was also observed at a moderate pace a year earlier - from 1.6% to 10.9%. At the same time, a slowdown in growth in the construction sector was observed in October - from 6.7% to 1.3%. In the services sector, growth improved from a 1.8% decline to a similar 1.8% in October. The trade sector also saw growth, from a 1.3% decline to a 2.2% growth. Only the energy sector remained in decline in October, with growth slowing from 10.5% to 5.1%.
Year-on-year (October 2025 vs. October 2024), all sectors demonstrated growth, with the highest rates seen in construction (20.1%), the industrial sector (17.9%), and the services sector (12.8%), followed by the energy sector (1.2%) and the trade sector (1%). A year earlier, from October 2024 to October 2023, all sectors also showed growth, with the highest rates recorded in the energy sector (19%), trade (13.7%), and construction (13.5%), followed by the industrial sector (5.3%) and services (5.2%).
Armenia's foreign trade turnover amounted to 6.4 trillion drams ($16.5 billion) in January-October 2025, a decline of 37.1% year-on-year (compared to 67.6% growth the previous year). This is due to a significant decline in both exports and imports-by 44.7% and 31.2%, respectively, compared to last year's significant growth of 95.1% (exports) and 50.8% (imports). As a result, the absolute value of exports for January- October 2025 amounted to 2.5 trillion drams ($6.4 billion), while imports amounted to 3.9 trillion drams ($10.1 billion).
In October 2025, compared to October 2024, foreign trade turnover decreased by 16% due to a decrease in both exports (by 21.8%) and imports (by 11.9%). A year earlier, in October 2024, compared to October 2023, foreign trade turnover demonstrated a 12.9% increase due to an increase in exports (by 23.1%) and imports (by 6.6%).
It should be noted that, starting in 2023, the methodology for calculating the volume of generated power in statistical reports has changed; specifically, the volume of power generated by autonomous generators has now been included. For the agricultural sector, data is published only in quarterly and annual statistical reports. (The average exchange rate for the dram in January-October 2025 was AMD 388.06 /$1.)
