Armenia’s economic activity index increased by 7% in the first ten months of 2017 as opposed to the same time span of 2016, the National Statistical Service (NSS) reported. It said the last time the country’s overall economic growth showed a 7% growth was recorded in 2012.
According to the National Statistical Service, the 7% growth was secured by a 17% economic growth in October only, when the agriculture surged by 34.7%, allowing this sector to reduce the decline.
The industrial output grew by 12.4% to 1.338.3 trillion drams. Services amounted to 1.182.1 trillion drams (an increase of 13.9%), while domestic trade grew by 12.8% to 2.016. 6 trillion drams.
The construction sector continued the fall ().9%) to approximately 274.5 billion drams, while the gross agricultural output dropped by 4.1% to 735.6 billion drams. In January-October the inflation was 0.7%.
Armenia’s foreign trade in January-October 2017 amounted to about $4.979.8 billion, an increase of 22.4% compared to the same period in 2016. The government-projected growth for 2017 is 3.2%. ($ 1 – 486.78 drams)