ARMENIAN ANNUAL ECONOMIC GROWTH 13,8 PERCENT
By Ara Martirosian

AZG Armenian Daily
23/01/2008

Economy

According to indexes of Armenian National Statistical Service,
Armenia recorded high economic growth in 2007.

Last year GDP exceeded 3 trillion AMD and was 3 trillion 140 billion
AMD.

The branches that recorded the highest indexes were services – 21
percent and construction – 19,5 percent.

Growth of industrial output is less than indexes of services and
construction spheres. It is 2,6 percent.

Industrial output growth without electric energy production was 1,7
percent, and 8,8 percent without production of diamond.

Volume of gross agriculture output increased by 9,6 percent, and
retail trade turnover – 9,4 percent.

Volume of foreign trade increased by 41,7 percent and was 4,5
billion AMD.

Export was 1 billion 218 million AMD. It exceeds the same index of
last year by 23,7 percent.

Import was 3 billion 281 million AMD or by 49,7 percent more compared
with 2006.

Negative balance in foreign trade deepened and exceeded 2 billion AMD.

Export increased by 38,7 percent without diamond production, import –
58,4 percent. Export was 1 billion 52 million AMD, import – 3 billion
118 million AMD.

Average monthly medium wages were 77 thousand AMD in 2007, and
increased by 20,4 percent compared with last year.

In public sector average monthly medium wages were 54 thousand AMD,
in private sector – 96 thousand AMD.