Armenia Reports Continued Robust Economic Growth

YEREVAN (Armenpress)–Armenia’s gross domestic product continued its robust double-digit growth in the first half of this year, according to the national statistical service (Armstat), which said the growth amounted to 945 billion Armenian Drams (AMD) or an 11.2 percent rise from a year ago.
According to the numbers, released Monday by Armstat, industrial growth, in monetary terms, rose to 328 billion Drams, or a 1.4 percent higher from a year ago. Without electricity production, the growth was 267 billion Drams and without diamond cutting industry it rose 8.2 percent to 325.2 billion AMD.
Electricity production in the first six month amounted to 3. 06 billion kilowatt /hours and agricultural GDP was 127 billion Drams, or 1.9 percent down from a year ago.
The biggest growth rate-17.2 percent-was again reported in construction sector, which saw a 172 billion AMD investmen’s.
Armstat said retail trade rose 11.4 percent to 364.5 billion AMD, while services to population grew 18 percent to 245 billion AMD.
Population income was said to grow to 854 billion AMD and expenses to 839 billion AMD. Population income and expenses grew respectively 25.2 and 23.7 percent.
Armstat also said average wages rose 20. 5 percent to 71,344 AMD ($210), with 52,500 AMD in public sector and 89,000 in private sector. Armenia’s foreign trade rose meantime 36.5 percent to $1.9 billion.


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