ARMENIAN GDP GROWS BY 13.6% IN ELEVEN MONTHS OF 2007

Noyan Tapan
Dec 24 2007

YEREVAN, DECEMBER 24, NOYAN TAPAN. Armenian GDP grew by 13.6% in
January-November 2007 on the same period of 2006 and made 2 trillion
711 billion 420.7 million drams (over 7 bln 847.1 mln USD). The GDP
index-elfalyor made 104.4%.

According to the RA National Statistical Service, industrial production
grew by 2.7% in January-November 2007 on the same months of 2006 and
made 644 bln 815.6 mln drams. Industrial production without diamond
production grew by 9,1% and made 640 bln 274.6 mln drams.

The gross agricultural ouptut increased by 9.6% to 577 bln 596.6
mln drams, construction – by 19% to 565 bln 279.5 mln drams, retail
trade – by 8.9% to 764 bln 277.8 mln drams, while services – by 20.8%
to 485 bln 677.4 mln drams.

The foreign trade of Armenia grew by 39.1% in January-November 2007
on the same period of last year and made 3 bln 932.5 mln USD, with
exports growing by 21.1% to 1 bln 64 mln USD, while imports – by 47.2%
to 2 bln 871 mln USD.

The foreign trade turnover without diamond trade grew by 50.7% to 3
bln 629.8 mln USD, exports – by 35.8% to 910.2 mln USD, while imports –
by 56.4% to 2 bln 719.7 mln USD.

Consumer prices rose by 4.2% in January-November 2007 on the same
period of 2006, whereas industrial production prices remained
unchanged.

The monetary incomes of the population grew by 24.7% in the first
eleven months of 2007 on the same period of 2006 and made 1 trillion
772 billion 595.2 million drams, while monetary expenditures grew
by 21.1% to 1 trillion 673 billion 310.2 million drams. The average
monthly nominal salary made 82.093 thousand drams (20.5% growth),
including the salary of employees of budgetary institutions – 55.064
thousand drams (20.1% growth) and that of employees of non-budgetary
institutions – 105.252 thousand drams (19.5% growth). The average
exchange rate of a US dollar made 345.53 drams in January-November
2007 and 416.04 drams in the year 2006.

The number of the officially regastered unemployed made 75.9 thousand
in Armenia at the end of November 2007, declining by 10.1% as compared
with the respective index of last year.