ARMENIAN GDP GROWS BY 11.2% IN JANUARY-JUNE 2007 ON SAME MONTHS OF LAST YEAR

Noyan Tapan
Aug 3, 2007

YEREVAN, AUGUST 3, NOYAN TAPAN. Armenia’s GDP grew by 11.2% in
January-June 2007 on the same months of last year and made 944 bln
845.7 mln drams (about 2 bln 631.3 mln USD). The index-deflator of
GDP made 4.9%.

The head of the National Statistical Service (NSS) of the RA Stepan
Mnatsakanian announced this at the August 3 press conference. According
to him, industrial production increased by 1.4% in the country in
January-June of this year on the same months of 2006 and made 327 bln
954.9 mln drams, industrial production without diamonds grew by 8.2%
to 325 bln 138 mln drams.

S. Mnatsakanian said that the gross agricultural output declined
by 1.9% to 127 bln 2.5 mln drams, construction – by 17.2% to 171 ln
420.6 mln drams, retail trade – by 11.4% to 364 bln 570.5 mln drams,
whereas services grew by 18.5% to 244 bln 812.7 mln drams.

In the words of the NSS head, Armenia’s foreign trade increased
by 36.5% on January-June of last year and made 1 bln 892 mln USD,
with exports growing by 20.5% to 527 mln USD, imports – by 43.9% to
1 bln 365 mln USD. Foreign trade without diamonds increased by 49.2%
to 1 bln 725.9 mln USD, exports – by 37.1% to 445.6 mln USD, imports –
by 53.9% to 1 bln 280.3 mln USD.

S. Mnatsakanian said that in the first half of 2007, 132,937 tourists
visited Armenia or by 36.3% more than in the same period of 2006,
and 172,297 tourists left Armenia (37.8% growth).

The speaker noted that consumer prices rose by 4.5% in January-June
2007 on the same months of 2006, while industrial production prices
grew by 0.3%.

Monetary incomes of the population grew by 25.2% in the indicated
period and made 853 bln 835.8 mln drams, while expenditures increased
by 23.7% to 838 bln 810.2 mln drams. The average monthly nominal
salary made 71.344 thousand drams (20.5% growth), the number of the
unemployed registered in Armenia made 84.7 thousand as of late June,
declining by 6% as compared with the respective index of last year.

S. Mnatsakianian said that the revenues and official transfers
of the RA state budget amounted to 244 bln 713.1 mln drams in the
first half of 2007, growing by 26.7% on the same period of last year,
while expenditures made 228 bln 192.4 mln drams, growing by 17.5%. The
balance of the population’s deposits with banks made 142 bln 691 mln
drams as of June 30, 2007, growing by 38.9% as compared with the same
day of last year.