Armenia’s GDP Increases in First Quarter

YEREVAN (Noyan Tapan)–During the first four months of 2002–compared to the same period last year–the gross domestic product of Armenia (GDP) increased by 9.3 percent and made 228.3 billion drams (about $400 million). According to the data of the Armenian National Statistical Service–during the period under review the GDP deflator-index totaled 101.2 percent.

In January-April 2002–as compared to the same period of last year–the volume of industrial output increased by 12.1 percent (22 percent electricity exclusive). Electricity production decreased by 2.4 percent. Gross agricultural production increased by 1.5 percent–and the growth of capital construction volumes made 16.9 percent.

The amount of retail commodity turnover increased by 9.1 percent–and the amount of services rendered to the population by 5.4 percent. Monetary incomes of the population increased by 3.5 percent–and monetary spending by 1.7 percent. The average monthly wages increased by 9.2 percent and made 24,168 drams. During the period under review–the number of officially registered unemployed people decreased by 9.8 percent and estimated to about 136,000 persons.

During the first four months of 2002–compared to last December–the consumer price index made 103.4 percent. Against the same period of 2001–the consumer price index made 101.0 percent. The average exchange rate of the dram against the US dollar made 569.8.

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