Armenia’s GDP contracts by 14.4% in 2009: Statistics

YEREVAN, February 2, /ARKA/. Armenia’s GDP contracted by 14.4% in 2009, the country’s National Statistical Service said. In terms of money the GDP dropped to AMD 3.165.5 trillion in current prices, while the GDP deflator index was 101.5 % from the previous year.

The construction sector plunged last year by 42.3%, while the industrial fall, including power production, was 7.6%. The agriculture, forestry and fishing fell by 0.1% without producing any influence on the GDP change. 

The 3.5% growth in financial sector and in real property deals had an 0.3% upward impact on the GDP. The gross added value comprised 89.5% of the GDP, up from 88.9% in 2008. At that the industrial share, power production included, comprised 13.6%, up from 13.1% a year before. The share of agriculture, forestry and fishing totaled 16.2% and that of construction-18.8%. The share of trade, transport and communications was 20% and that of services 13.1%.

Taxes, subsidies deducted, made 10.5% of the GDP. The per capita income was 975,753 Drams or $2,686 or 1,923 Euros. In 2008 Armenian economy grew by 6.8%.