Armenia will register positive growth for this year- minister says
22.12.2016,
15:11
Armenia will register an economic growth this year, albeit insignificant, the minister of economic development and investment Suren Karayan said to reporters today.
YEREVAN, December 22. /ARKA/. Armenia will register an economic growth this year, albeit insignificant, the minister of economic development and investment Suren Karayan said to reporters today.
In his words, some sectors have seen serious growth, particularly, industrial output is expected to grow by 6-7 percent and services and exports will also register positive results. According to the National Statistical Service, Armenia’s economic activity index in the first 11 months increased by 0.6%.
Armenia’s economic activity index began to slow down from the second half of the year. For example, in the first 6 months the index grew by 4.8% year-on-year, but fell to 3% for January-July, to 2.4% for January-August, to 1.6% for January-September and to 0.4% for January-October. However, in November the growth recovered to 2.3% versus previous November.
The growth in the 11 months of this year was secured by industry, trade and services. Thus, the industrial output grew by 6.8% to about 1.285.6 trillion drams, services grew by 7.8% to 1.141.9 trillion drams and domestic trade rose by 0.3% to 1.944.1 trillion drams.
The agricultural GDP declined by 6.1% to 836.1 billion drams, while construction sector shrank by 11% to 320.1 billion drams.
Armenia’s foreign trade in January-November 2016 amounted to approximately $4.576.3 billion, having increased by about 8% year-on-year.
According to the NSS, in November, consumer prices rose by 1% from October, and decreased by 1.4% if compared to November last year. -0-
In his words, some sectors have seen serious growth, particularly, industrial output is expected to grow by 6-7 percent and services and exports will also register positive results. According to the National Statistical Service, Armenia’s economic activity index in the first 11 months increased by 0.6%.
Armenia’s economic activity index began to slow down from the second half of the year. For example, in the first 6 months the index grew by 4.8% year-on-year, but fell to 3% for January-July, to 2.4% for January-August, to 1.6% for January-September and to 0.4% for January-October. However, in November the growth recovered to 2.3% versus previous November.
The growth in the 11 months of this year was secured by industry, trade and services. Thus, the industrial output grew by 6.8% to about 1.285.6 trillion drams, services grew by 7.8% to 1.141.9 trillion drams and domestic trade rose by 0.3% to 1.944.1 trillion drams.
The agricultural GDP declined by 6.1% to 836.1 billion drams, while construction sector shrank by 11% to 320.1 billion drams.
Armenia’s foreign trade in January-November 2016 amounted to approximately $4.576.3 billion, having increased by about 8% year-on-year.
According to the NSS, in November, consumer prices rose by 1% from October, and decreased by 1.4% if compared to November last year. -0-
