Armenia's services sector grew by 11.1% in January-November 2023 to over 2.7 trillion drams

YEREVAN, January 12. /ARKA/. Armenia's services sector upped by 11.2% in the first 11 months of 2023 as opposed to the same months of 2022 to over 2.7 trillion drams (in current prices), the National Statistical Committee (NSC) reported.

In November 2023 alone the sector grew by 2.4 % or 258 billion as compared to November 2022.

According to NSC, financial and insurance services dropped by 8.1% y-o-y to over 730.3 billion drams. Information and communications services grew by 40.2% to about 574 billion drams. Transport services grew by 20.1% to over 363.3 billion drams.

Catering and hotel services grew by about 20% to 285.2 billion drams, while health and social services grew by 3.2% to about 129 billion drams.

Culture, entertainment and recreation services grew by 9% to 246.5 billion drams. Professional, scientific and technical activities grew by 6.7% to 123.5 billion drams.

Real estate related activities grew by 6.1% to about 108 billion drams, administrative and auxiliary activities increased by 6.3% to 90.2 billion drams, and education services upped by 7.4% to 67.7 billion drams. ($1 - AMD 405.01) -0-.