ARMENPRESS

ARMENIA POSTS 13.6 PERCENT GDP GROWTH IN
JANUARY-AUGUST

YEREVAN, SEPTEMBER 20, ARMENPRESS: Armenia’s
economic growth in January-August grew 13.6 percent
amounting, in terms of money, to 1.6 trillion Drams,
according the chief of the National Statistical
Service Stepan Mnatsakanian.
He said today this was an unprecedented GDP growth
in just eight months. Armenia’s industrial output rose
to 446.4 billion Drams, a 1.7 percent growth from a
year ago. Power production not counted the growth was
369 billion Drams.
Armenia’s power plants produced in the reported
time 4.03 billion kilowatt/hours electricity, 1.6
percent down from a year ago. Despite late spring and
early summer flooding agricultural GDP grew 7.6
percent to 329 billion Drams.
Construction accounted for the biggest growth-19.6
percent. A total of 328 billion Drams were invested in
this sector.
Retail trade grew 11 percent to 510 billion Drams.
Services to population rose 20 percent to 335 billion
Drams. Population income rose to 1.2 trillion Drams
and expenditures to 1.6 billion Drams. The inflation
rate was 3.9 percent.
By the end of August there were 82,000 officially
registered unemployed people, down 8 percent from a
year ago.
Average wages rose 21.5 percent to 73.630 Drams (
$216). Wages in public salary rose to 54,000 Drams and
to 92,000 in public sector.
Armenia’s foreign trade rose nearly 40 percent to
$2.660 billion. Exports rose 23 percent to $734
million and imports rose 47 percent to $1.926 billion.