Interfax News Agency
Russia & CIS Business and Financial Newswire
April 20, 2006 Thursday 7:34 PM MSK

Armenian economy grows 7.9% in Q1

Armenian GDP grew 7.9% year-on-year in the first quarter of 2006
to 265.9 billion dram (449.46 dram/$1 on April 20), the National
Statistics Service told Interfax.

Industrial output fell 4.7% to 137.9 billion dram, however agricultural
output rose 3.5% to 40.2 billion dram and services sector output rose
21.4% to 95.4 billion dram.

Foreign trade turnover grew 7% to $606.4 million, including growth
of 5.6% to $184.4 million for exports and 13.6% to $422 million for
imports. The trade deficit was $237.6 million.

The 2006 budget targets GDP growth at 7.5%. The economy grew 13.9%
in 2005.