Armenian service sector generated revenue of $1.2 billion in first  two months

 Monday, April 8 2024 16:56:00
Armenian service sector generated revenue of $1.2 billion in first  two months

ArmInfo.Service sector of Armenia provided revenue in the amount of 473.1 billion drams in Jan-Feb 2024 ($1.2 billion), slowing down in y-o-y growth from 23.5% to 5.2%. This is evidenced by data from the RA Statistical Committee, according to which in February alone, the service sector showed a decline of 0.3% - to 236.2 billion drams ($584.2 million).

54.7% year-on-year increase in passenger traffic, 17.5% year-on-year  increase in cargo traffic 
 Wednesday, March 9 2022 13:20

ArmInfo.This January, the cargo traffic totaled 1.110 thousand tons - a 17.5% increase against an 0.7% decline last year. 

>>>
19.2% year-on-year growth in energy output in Armenia this Jan 
 Monday, March 7 2022 18:28

ArmInfo.The electric energy output totaled 885.2mln kwh in Armenia this January, a 19.2% growth as compared with last January (against 2.2% growth the previous  year).  

>>>
2-digit growth in Armenia`s industry 
 Monday, March 7 2022 18:25

ArmInfo. Armenia's industry has recorded a 2-digit growth since the beginning of this year. The RA Statistical Committee reports a 16.6% year-on-year growth this  January against a 10.8% decline last January, with a 37.8% decline  during one month (AMD 177.7 or $368.7mln). 

>>>
Aluminum foil output totaled 2,760 tons in Armenia this Jan 
 Monday, March 7 2022 18:25

ArmInfo.The aluminum foil output totaled 2,760 thousand tons in Armenia this January - an 11% year-on-year decline against a 6.9% growth the previous year. 

>>>
Inflation in Armenian consumer market in February 2022 reached 6.5%  per annum
 Thursday, March 3 2022 18:01

ArmInfo. 0.1% inflation was registered in the consumer market of Armenia in February 2022, with a y-o-y inflation of 6.5%, against 0.6% inflation in February 2021 with  a y-o-y inflation of 5.3%. This is evidenced by the data of the RA  Statistical Committee.

>>>
Armenian GDP for 2021 reached 5.7% growth, against pre-Covid growth of 7.6%
 Monday, February 21 2022 17:08

ArmInfo. Armenia's GDP for 2021 grew by 5.7% (from a 7.4% decline in 2020), amounting to 6.983 trillion drams ($13.9 billion), compared to 7.6% pre-Covid period growth in 2019. This is evidenced by the data of the RA Statistical Committee published on February 21.

>>>
Unemployment rate in Armenia by October 2021 decreased to 15% from  18.2% a year earlier
 Friday, February 11 2022 19:06

ArmInfo. In Armenia, the unemployment rate for Q3 2021 remained unchanged - 15%, but decreased by 3.2 percentage points in comparison with the indicator of a year  ago (from 18.2%). This is evidenced by the data of the RA Statistical  Committee.

>>>
Indicator of natural population growth over year increased  significantly, however, in comparison with pre- COVID and pre-war  periods, decline was more than 80%
 Wednesday, February 9 2022 21:47

ArmInfo. In 2021, 36,585 children were born in Armenia, which is 0.6% higher than the indicator of a year ago, while a 1.5% increase was registered in the  two-year context. According to the RA Statistical Committee, the  birth rate per 1,000 inhabitants in the reporting period amounted to  12.4 per thousand, against 12.3% in 2020 and 12.2 per thousand two  years earlier.

>>>
Population of Armenia in 2021 decreased by 0.08%
 Wednesday, February 9 2022 15:54

ArmInfo. as of January 1, 2022 The population of Armeniadecreased by 0.08% per annum or 2.3 thousand people, amounting to 2.961 million people. This is evidenced  by the data of the RA Statistical Committee.

>>>
Negative migration balance of Armenia increased by 67.5% in 2021
 Wednesday, February 9 2022 15:40

ArmInfo. In 2021, 57,472 cases of population migration were registered in Armenia, which is 18% higher than a year ago. This is evidenced by the data of the RA  Statistical Committee.

>>>
Armenia`s service sector reaches 7.8% growth in 2021 from 14.7%  decline in 2020
 Wednesday, February 9 2022 14:10

ArmInfo.In Armenia, the service sector reached a 7.8% growth in 2021 (from a 14.7% decline in 2020), increasing revenue to 1.8 trillion drams ($3.7 billion). This  is evidenced by the data of the RA Statistical Committee, according  to which an upward trend was recorded in all segments, with the  exception of the sector of culture, entertainment and recreation.

>>>
Armenian trade sector`s turnover up by 7.5% in 2021
 Wednesday, February 9 2022 14:10

ArmInfo. In 2021, the turnover of Armenia`s trade sector totaled AMD 3,900bln ($6.7bln) - a 7.5% increase against a 14% decrease in 2020. 

>>>
870.3 thousand tourists visited Armenia in 2021
 Wednesday, February 9 2022 14:08

ArmInfo.In 2021, 870,308 tourists visited Armenia, which is 2.4-fold higher than a year ago (against a decline of 80.2% in 2020). But even with such growth, it  was not possible to restore the pre-Covid level of tourist flow.

>>>
Armenia`s ICT sector revenue exceeded $680 million for year
 Tuesday, February 8 2022 18:40

ArmInfo.Information and telecommunications technology (ICT) revenue accelerated the y-o-y growth rate from 2.8% to 7.4%, providing a revenue volume of 344.7  billion drams (about $684.3 million).

>>>
Growth of cargo transportation in Armenia accelerated over year from  0.7% to 15.8%, with increase in passenger traffic by 54%
 Tuesday, February 8 2022 18:40

ArmInfo.The volume of cargo transportation in Armenia in 2021 increased by 15.8% (against an increase of 0.7% in 2020), amounting to 17,243 thousand tons. Of  these, 12,067.2 thousand tons (69.9% of the total volume) fall to  road transport, growing 23.1% by y-o-y terms  (against an increase of  0.9% in 2020). This is evidenced by the data of the RA Statistical  Committee.

>>>
Brandy production in Armenia increased by 19.2% in 2021, and wine  production by 18.8%
 Tuesday, February 8 2022 16:34

ArmInfo.After the coronavirus crisis in 2020, when the production volumes of alcoholic beverages produced in Armenia decreased, in 2021 the country's  alcohol industry almost recovered. During the reporting period,  growth was registered in the line of all drinks. The only exceptions  were champagne, vodka, liquor and some other alcoholic beverages.

>>>
Production volumes of Armenia`s textile industry increased 2.1-fold  in year
 Tuesday, February 8 2022 14:54

ArmInfo.The production volumes of Armenia's textile industry have increased 2.1-fold in a year, providing production volumes in the amount of 1.9 billion drams  (over $3.7 million). 

>>>
In 2021, land purchase and sale transactions increased by 15.4% in  Armenia
 Monday, February 7 2022 21:29

ArmInfo. In 2021, there were 24,775 transactions for the purchase and sale of land in Armenia, which is higher than the figure of 15.4% a year ago. This is  evidenced by the data of the Real Estate Cadastre.

>>>
In 2021, foreigners sold more real estate in Armenia than bought it
 Monday, February 7 2022 19:56

ArmInfo. In 2021, 4,621 real estate transactions were made by foreigners in Armenia, which is 32.2% higher than a year ago. According to the RA State Real Estate  Cadastre, in total, non-residents accounted for 8.2% of the total  number of completed purchase and sale transactions, against 7.6% in  the same period a year earlier. According to all indicators for the  reporting period, there is a dominance of sales over purchases in  real estate transactions of foreigners.

>>>
Over 33 thousand tons of aluminum foil were produced in Armenia in  2021
 Monday, February 7 2022 19:54

ArmInfo.According to the results of 2021, 33,480.8 tons of aluminum foil were produced in Armenia. Thus, for the fourth time, the Armenal plant exceeds the  30.000 mark in terms of aluminum foil output (in 2017 - 33.724 tons,  in 2019 - 30.547 tons, in 2020 - 35,481.9 tons, ed. note)

>>>

News
Up to 10% cashback from GetTransfer with IDBank cardsUp to 10% cashback from GetTransfer with IDBank cards
South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry 
Armenia, UAE discuss possibilities of increasing mutual trade volumesArmenia, UAE discuss possibilities of increasing mutual trade volumes
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientistYerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientist
KfW stands ready to support Armenian government  in implementation of  new projectsKfW stands ready to support Armenian government  in implementation of  new projects
Cooperation with German Fichtner company discussed Cooperation with German Fichtner company discussed 
Armenia, China can record much greater results both in economic and  political dialogue and cultural cooperation - MPArmenia, China can record much greater results both in economic and  political dialogue and cultural cooperation - MP
U.S. capital important for Armenia`s mining industryU.S. capital important for Armenia`s mining industry
Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisionsExpert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
Armenia introduces new rules for labeling carbonated, non-carbonated  watersArmenia introduces new rules for labeling carbonated, non-carbonated  waters
Arsen Bazikyan: Armenia`s agriculture is transforming into  agribusinessArsen Bazikyan: Armenia`s agriculture is transforming into  agribusiness
Armenia to join e-CMR protocolArmenia to join e-CMR protocol
Armenia`s government changes Kaps reservoir project funding Armenia`s government changes Kaps reservoir project funding 
Armenian FM, minister of economy of Saudi Arabia discuss development  of economic ties Armenian FM, minister of economy of Saudi Arabia discuss development  of economic ties 
IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%
Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers 
EEC Board decided to liberalize certain categories of precious  metals` import/exportEEC Board decided to liberalize certain categories of precious  metals` import/export
Earthquakes, drought could affect Armenia`s debt sustainability -  EFSDEarthquakes, drought could affect Armenia`s debt sustainability -  EFSD
Converse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 millionConverse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 million
USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia 
Expert: Armenia has the potential to get high-quality and abundant  harvest of apricots this yearExpert: Armenia has the potential to get high-quality and abundant  harvest of apricots this year
EFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and TajikistanEFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and Tajikistan
Armenia is considering appointing attache in Silicon ValleyArmenia is considering appointing attache in Silicon Valley
Astana proposes joint investment programmes in Yerevan Astana proposes joint investment programmes in Yerevan 
Armenia, Kazakhstan have unrealized economic potential - premier Armenia, Kazakhstan have unrealized economic potential - premier 
Armenia, EU discuss expansion of economic cooperation Armenia, EU discuss expansion of economic cooperation 
Transavia airline starts operating route Lyon-Yerevan-LyonTransavia airline starts operating route Lyon-Yerevan-Lyon
EAEU and its economic principles should not be mixed with political  ambitions - Nikol PashinyanEAEU and its economic principles should not be mixed with political  ambitions - Nikol Pashinyan
Armenia, Australia to strengthen cooperation in high-tech field Armenia, Australia to strengthen cooperation in high-tech field 
Leasing EXPO -2024 officially opened in YerevanLeasing EXPO -2024 officially opened in Yerevan
Araratbank to double leasing portfolio by end of 2024Araratbank to double leasing portfolio by end of 2024
Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis 
Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s productsEconomy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products
Info about IT specialists leaving Armenia en masse has nothing to do  with reality - premierInfo about IT specialists leaving Armenia en masse has nothing to do  with reality - premier
WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
Government is ready to share risks with agricultural insurersGovernment is ready to share risks with agricultural insurers
EIB to issue loan under energy efficiency programme to Armenia EIB to issue loan under energy efficiency programme to Armenia 
Deadline for filing personal income declarations in Armenia may be  extendedDeadline for filing personal income declarations in Armenia may be  extended
ADB intends to expand its areas of activity in ArmeniaADB intends to expand its areas of activity in Armenia
ADB forecasts 5.7% economic growth for Armenia in 2024ADB forecasts 5.7% economic growth for Armenia in 2024
Conversebank to present its Converse Leasing product at annual  Leasing ExpoConversebank to present its Converse Leasing product at annual  Leasing Expo
By rebranding, INGO Armenia IC begins new stage of developmentBy rebranding, INGO Armenia IC begins new stage of development
Some countries refusal to service Russian Mir bank cards against  common interests - Elvira NabiullinaSome countries refusal to service Russian Mir bank cards against  common interests - Elvira Nabiullina
USAID to invest additional $33mln in Armenia`s economy USAID to invest additional $33mln in Armenia`s economy 
Idplus Bonuses in Idram&IDBank ApplicationIdplus Bonuses in Idram&IDBank Application
Deputy PM: we are ready for any assistance to contribute cargo  aviation establishmentDeputy PM: we are ready for any assistance to contribute cargo  aviation establishment
Mkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterallyMkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterally
Armenia, Iran discuss organization of joint production in various  branches of economy Armenia, Iran discuss organization of joint production in various  branches of economy 
ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  
Armenia`s Ministry of High-Tech Industry developing sectoral strategy Armenia`s Ministry of High-Tech Industry developing sectoral strategy 
Armenia`s footwear exports to Russia 11 times up Armenia`s footwear exports to Russia 11 times up 
EDB sets course for digital future of transportation at joint EEC and  ESCAP eventEDB sets course for digital future of transportation at joint EEC and  ESCAP event
Team`s Next Generation Networ is already available in AshtarakTeam`s Next Generation Networ is already available in Ashtarak
Kazakhstan`s potential exports to Armenia total $350mln - minister Kazakhstan`s potential exports to Armenia total $350mln - minister 
Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier 
Acquisition of Ameriabank by BOGG PLC int`l financial group completedAcquisition of Ameriabank by BOGG PLC int`l financial group completed
Armenian service sector generated revenue of $1.2 billion in first  two monthsArmenian service sector generated revenue of $1.2 billion in first  two months
EEC: EAEU common electricity market is at high level of readinessEEC: EAEU common electricity market is at high level of readiness
Armenia`s metallurgical industry increased production volumes by 37%  in first 2 monthsArmenia`s metallurgical industry increased production volumes by 37%  in first 2 months
Idram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment PrinciplesIdram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment Principles
Read more


Exchange rates
19.04.2024
RUB4.210.02
USD392.60-1.47
EUR418.04-2.71
GBP488.12-3.60
CAD285.09-1.38
JPY25.40-0.12
CNY54.22-0.22
CHF432.05-1.61