ARMENIA’S GDP GROWS 11 PERCENT IN QUARTER ONE

ARMENPRESS
Apr 23 2007

YEREVAN, APRIL 23, ARMENPRESS: Armenia’s Gross Domestic Product
(GDP) rose 11 percent in the first quarter of 2007 from a year ago to
311.5 billion Drams, the country’s national statistical service said
yesterday. It said the industrial output amounted to 152.3 billion
Drams, up 4.3 percent from a year ago.

In the first three months Armenian power generating facilities produced
1.6 billion kilowatt/hour electricity, up 0.7 percent from a year ago.

Agricultural GDP rose 2.2 percent from a year ago to 44 billion
Drams. Construction sector growth rose 16 percent to 32.2 billion
Drams.

The statistical service also said retail trade amounted to 159 billion
Drams, up 8 percent as opposed to the first quarter of 2006. It also
said the unemployment rate went down 6 percent with 86,000 officially
registered jobless people.

The average wage was 69,000 Drams, up 20 percent from a year
ago. Public sector average wage was 52,300 Drams and private sector
was 86,400 Drams The growth was 17 and 22 percent respectively.