ArmInfo. The Armenian service sector, a primary engine of the nation's economy, recorded a significant slowdown in the first two months of 2026. According to the latest data from the Statistical Committee of Armenia, the sector generated 630.3 billion drams ($1.6 billion) in revenue for January-February, but its annual growth rate dropped to 7.2%, down from 12.4% during the same period last year.
The slowdown was particularly visible in February, where the sector saw a month-on-month dip of 1.7%, totaling 312.3 billion drams ($827.2 million).
According to data from the RA Statistics Committee, the slowdown in annual growth was caused by a weakening of the country's most dominant service segments - the financial sector and information and communications. In particular, the volume of services provided in the financial sector slowed in annual growth from 21.5% to a stagnant 0.9%, while in the information and communications sector, it fell from 17.7% to 6.5%.
A slowdown in the growth rate of services provided was also recorded in healthcare, from 7.8% to 2.9%, and in real estate transactions, from 16.3% to 8%.
However, there was an acceleration in the growth of services provided in areas such as catering and tourism, from 6.5% to 12.5%; culture, entertainment, and recreation, from 1.3% to 12.6%; administrative and support activities, from 11.5% to 20.4%; and professional and scientific activities, from 11.6% to 16.7%. Meanwhile, the volume of services provided in the education sector decreased by 2.6% (compared to 7.6% growth a year ago), while services in the transportation sector, conversely, reversed their trend from an 8.4% decline to a 16.3% increase.
The financial sector leads in service volume, accounting for 201.5 billion drams (32% of the total). Information and communications come in second, with 128.4 billion drams (20.4% of the total). Transportation ranks third, with 74.6 billion drams (11.8% of the total). Fourth place goes to catering and tourism, with 53.3 billion drams (8.4% of the total). Culture, entertainment, and recreation round out the top five with 49.1 billion drams (7.8% of the total) in service volume. It should be noted that the average exchange rate of the dram in January-February 2026 was AMD 378.76 /$1, and in February 2026 - AMD 377.55/$1.
