Armenia's services sector grew by 10.3% in 2023 to over 3 trillion drams

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Economy

08.02.2024, 11:06

Services sector in Armenia in 2023 grew by 10.3% yoy to over 3 trillion drams (in current prices),, according to the National Statistical Committee.

Armenia's services sector grew by 10.3% in 2023 to over 3 trillion drams

YEREVAN, February 8. /ARKA/. Services sector in Armenia in 2023 grew by 10.3% yoy to over 3 trillion drams (in current prices),, according to the National Statistical Committee.

In December 2023 alone this indicator amounted to 284,2 billion drams, up 3.4% from 2022 December, while compared to November 2023 it was up 10%.

Financial and insurance services (26.7% of the total) dropped by 6.9% yoy to 808.4 billion drams.

Information and communication services (20.8% of the total) grew by 35.4% to 629.4 billion drams, transportation services grew by 16% to 395 billion drams, accommodation and public catering services grew by 19% to 311.5 billion drams, and culture, entertainment and recreation services upped 9.6% to 270.7 billion drams.

Professional, scientific and technical services increased by 6.9% to 144.8 billion drams. Health care and social security services increased by 3.7% to 142.7 billion drams.

The real estate related services showed a growth of 8.7% to 119.4 billion drams and education services increased by 7.1% to 75.5 billion drams .($1 - AMD 404.26) -0-.

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