Armenian economy expands 10% in 11 mths

Interfax
Dec 23 2004

Yerevan. (Interfax) – Armenian GDP grew 10% year-on-year to 1.672
trillion dram in January-November, the National Statistics Service
told Interfax.

GDP in November this year fell 22.2% compared with October.

Industrial output rose 1.6% to 473.9 billion dram year-on-year in
the 11 months.

Armenian foreign trade grew 4.5% year-on-year to 1.001 trillion dram
in the same period.

The government forecasts GDP growth of 7% in 2004. GDP in 2003
increased 13.9% year-on-year to 1.618 trillion dram, with industrial
production up 14.9% to 425.3 billion dram.

The official exchange rate on December 22 was 484.97 dram to the
dollar.