Russia & CIS Business and Financial Newswire
December 3, 2007 Monday 11:48 AM MSK

Armenian economy grows 13.3% in Jan-Oct

YEREVAN Dec 3

Armenia’s GDP grew 13.3% year-on-year in the first ten months of
2007, and measured 2.396 trillion dram ($6.9 billion), the National
Statistics Service reported.

Industrial production rose 1.8% to 574.5 billion dram, and
agricultural production grew 8.9% to 532.9 billion dram.

The construction grew 19.2% to 491 billion dram, services increased
by 17.1% to 442.5 billion dram, and the retail sector expanded by
9.3% to 668.8 billion dram.

Household incomes in the first nine months of 2007 rose 25.2% to
1.591 trillion dram, while spending increased by 23.6% to 1.526
trillion dram.

The average monthly nominal wage rose 20.3% in the first ten months
of 2007, to 74,433 dram ($214).

Armenia’s foreign trade turnover grew 37.5% year-on-year to 1.201
trillion dram ($3.458 billion) in the first ten months of 2007, as
exports rose 18.6% to 326.3 billion dram ($939.4 million) and imports
jumped 46.2% to 875 billion dram ($2.519 billion).

The official exchange rate for November 30 was 305.33 dram/$1.

From: Emil Lazarian | Ararat NewsPress