ArmInfo. Economic growth in Armenia has accelerated in recent months, primarily due to the recovery of the industry, as reported by the Luys Foundation, whose experts analyzed the socioeconomic development of the Armenian economy from January to October 2025.
According to the Foundation's report, Armenia's GDP growth rate in October of this year was 10.1%, while the cumulative figure for January-October was 8.1%, representing an increase of 0.4 percentage points compared to the previous month. This acceleration in growth is primarily due to the recovery of the industrial sector, the structure of which, however, remains unstable. Specifically, the growth rates of industrial subsectors have fluctuated significantly in recent months. For example, food production grew by 20.4% in September, while the same subsector recorded a decline of 4.8% in August. Tobacco production growth also accelerated significantly, reaching 32.4% in September from 17.1% in August. Meanwhile, non-ferrous metal production growth slowed significantly, from 77.1% to 17.0%. This unstable growth structure in the manufacturing industry indicates the presence of short-term factors and their significant impact. Under these conditions, high growth rates cannot be sustained for long.
Furthermore, the report states that the improvement in the rate of export decline is proceeding rather slowly. Exports declined by 44.7% in January-October of this year, only down 2.0 percentage points compared to January-September. This slow pace of improvement is concerning, especially considering the fact that export growth remains low. Excluding the main effects of re-exports from the calculations, it can be concluded that deep-rooted issues continue to persist in the export sector of the economy.
