In Armenia, economic activity growth in January-October 2025 remained  steady at 8.1%, while foreign trade continued to decline

ArmInfo. In Armenia, economic activity in January-October 2025 increased by 8.1% year-on-year (the same as last year - 8.1% in the same period of  2024). However, this was accompanied by a deterioration in foreign trade dynamics, from significant growth to a significant decline. 

According to the latest data from the Statistical Committee of the  Republic of Armenia, the industrial sector, which was one of the  growth drivers a year earlier, is now in decline. According to  statistics, this economic activity in January-October 2025 was  largely due to accelerated 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%. Growth in the energy  sector also accelerated significantly - from 4.6% to 7.9%. At the  same time, 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 statistical data for January-October 2025, the trade  sector retains the lead in absolute terms, with a volume of 5.3  trillion drams ($13.7 billion). The services sector ranks second in  terms of volume with 3.3 trillion drams ($8.6 billion), followed by  the industrial sector with 2.4 trillion drams ($6.2 billion), and the  construction sector with 551.4 billion drams ($1.4 billion), due to  the lack of data on the agricultural sector. Power generation in  January-October 2025 amounted to 8,156.9 million kWh, with 801.3  million kWh  generated in October alone. 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 (as a year ago in October 2024 -  from 6.6% growth to a 4.6% decline). Iin October 2025, industrial  sector growth accelerated significantly from 5.1% to 20.8%, this  trend was also observed at a moderate pace a year earlier - from 1.6%  to 10.9%. A slowdown in growth in the construction sector was  observed in October - from 6.7% to 1.3%. Improved growth dynamics in  October were observed in the services sector, from a 1.8% decline to  a similar 1.8% growth; in the trade sector, from a 1.3% decline to a  2.2% growth; and in the energy sector, from a 10.8% decline to a 5.2%  growth.

On a year-over-year basis (October 2025 vs. October 2024), growth was  demonstrated by all sectors, except for the energy sector, which  experienced a 5.5% decline. Specifically, the highest growth rates  were demonstrated by construction (20.1%), the industrial sector  (17.9%), and services (12.8%), followed by the trade sector (1%). In  October 2024 compared to October 2023, all sectors also showed  growth, but the highest growth rates were observed in the energy  sector (20.4%), trade (13.7%), and construction (13.5%), followed by  the industrial sector (5.3%) and services (5.2%).

Armenia's foreign trade turnover in January-October 2025 amounted to  6.4 trillion drams ($16.5 billion), a decline of 37.1% year-on-year  (compared to 67.6% growth a year ago). This was driven by 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), and imports - 3.9 trillion drams ($10.1 billion).

In October 2025, compared to October 2024, foreign trade turnover  fell 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 grew by 12.9% 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; 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 dram  exchange rate in January-October 2025 was AMD 388.06/1$.)