ARMENIAN GDP GROWS BY 10.5% IN JANUARY-MAY 2006

Noyan Tapan
Jun 21 2006

YEREVAN, JUNE 21, NOYAN TAPAN. In January-May 2006, Armenia’s GDP
made 566 bln 577.5 mln drams (about 1 bln 263 mln USD), exceeding by
10.5% the respective index of last year. According to the RA National
Statistical Service, GDP index-deflator made 1.8%.

In January-April 2006, the total amount of industrial production made
242 bln 235.4 mln drams, declining by 1.9% compared with the same
period of last year, that without diamond production – 240 bln 877.8
mln drams, growing by 1.3%. The gross agricultural output amounted to
84 bln 56.8 mln drams, increasing by 1.8% on January-April 2005, while
construction amounted to 104 bln 524.4 mln drams, growing by 41.7%.

In January-May 2006, the Armenian foreign trade made 1 bln 107.4 mln
USD or by 9.7% more than in the same period of last year. These indices
without diamond trade made 919.8 mln USD and 19.2%. Exports amounted
to 339.1 mln USD, declining by 4.6%, exports without diamonds – to
248.8 mln USD, growing by 2.2%. Imports made 768.3 mln USD, growing
by 17.4%, imports without diamonds – 671 mln USD, growing by 27%.

Retail trade amounted to 261 bln 389.9 mln drams, exceding the
respective index of last year by 13.5%, the services delivered –
to 164 bln 540.6 mln drams, growing by 18.2%.

The concumer price index made up 99.3% in January-May 2006 compared
with the same period of last year, the index of manufacturers’ prices
– 95.5%.

In January-May 2006, the average monthly salary made 58,745 drams in
Armenia or by 20.2% more than in the same months of last year. These
indices with respect to employees of the budget sector made 41,632
drams and 24.8%, and employees of non-budget organizations – 71,721
drams and 16.9%. The monetary incomes of the population made 555 bln
137.3 mln drams or by 17% more, the monetary expenditures – 564 bln
616.9 mln drams or by 20.2% more.

The average exchange rate of the Armenian dram against the US dollar
made 448.51 drams in January-May 2006 compared with 457.69 drams in
January-December 2005.