Armenia`s economy grew by  8.1%  in Jan-Oct 2025, but foreign trade  declined

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.)