News - Armenia economic activity growth decreasing, it was 9.6% in first 7 months

The Statistical Committee of Armenia has issued the preliminary main macroeconomic indicators obtained by the current-operational summary characterizing the socioeconomic situation in the country as of Monday. Accordingly, in January-July 2024, compared to the same period of the previous year, a 9.6 percent increase in economic activity was recorded in Armenia. But according to the data of the first six months, this indicator was 10.4 percent. Industrial production growth was 15.7 percent, while in January-June this figure was 18.2 percent. The amount of construction increased by 16.1 percent, and trade—by 21.4 percent. According to the data of the first half of this year, the growth of trade was 22.9 percent, and construction—15.7 percent. In January-July, services increased by only 4.5 percent; in January-June, it was 4.4 percent. In the first seven months of this year, the consumer price index in Armenia decreased by 0.3 percent, but the industrial product price index increased by 2.8 percent. In the conditions of such economic activity, electricity production increased by only 1.1 percent, but foreign trade increased by 95 percent. According to the data of the first seven months of this year, the exports from Armenia increased 2.2 times, making 8.7 billion drams, while the increase in the first six months was 2.3 times: 7.9 billion drams. As for imports to Armenia, they increased by 79.1 percent in the first seven months of this year and amounted to 11.68 billion drams; but according to the data of the first half, they had increased by 86.5 percent.