10% GDP GROWTH REGISTERED IN ARMENIA IN JAN-NOV, 2004

YEREVAN, DECEMBER 20. ARMINFO. The highest GDP growth in Armenia
was registered in Jan-Nov, 2004 – 10.0%. ARMINFO was informed in
the press service of the National Statistical Service of Armenia,
according to preliminary data, in Nov as against Oct the economic
drop made up 22.2%. By the end of Nov 2004 the GDP totaled 1,672.1 bln
drams or ($3,109.5). The GDP index-deflator grew by 6.0%. In Jan-Nov
the AMD/USD exchange rate was 537.74 drams against one U.S. dollar.

In Jan-Nov of the current year the volume of industrial produce
totaled 473.9 bln drams or $881.4 mln (or 27.2% out of GDP – ARMINFO),
increasing by 1.6% as against the same period of last year, in Nov as
against Oct it increased by 1.1%. Electricity generation in Jan-Nov
increased by 8.6%, and in Nov as against Oct it increased by 16.5%,
totalling 5,341.5 mln kW/h.

In Jan-Nov of the current year the Gross agriculture produce increased
by 14.3% as against the same period of 2003, totaling 412.5 bln drams
or $767.1 mln and in Nov as against Oct it decreased by 41.5%. Volume
of construction increased by 9.1% in Nov as against Oct, and in
Jan-Nov it increased by 16.2%, reaching 229.3 bln drams or $426.5
mln. Retail trade turnover totaled 699.9 bln drams by the end of Nov,
increasing by 9.2% in Jan-Nov as against the same period of last year,
and in Nov as against Oct it increased by 2.5%.

By the end of Nov, 2004 foreign trade turnover totaled $1.9 bln
(1,001.6 bln drams), increasing by 4.5% as against the same period
of 2003, and in Nov as against Oct it decreased by 6.3%. In its
structure the exports increased by 3.2% in Jan-Nov as against the
same period of 2003, and in Nov as against Oct it increased by 14%
totalling $645.9 mln. The imports totaled $1,219.3 mln, increasing
by 5.3% during the first eleven months of the current year, and in
Nov as against Oct it increased by 16.2%. Negative trade balance was
$573.4 mln by the end of Nov.