ARMENIA’S GDP GROWS BY 10.1% IN JANUARY-FEBRUARY 2008 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
March 20, 2008

YEREVAN, MARCH 20, NOYAN TAPAN. Armenia’s GDP made 221 bln 403.1
mln drams (over 719.3 mln USD) in January-February 2008, exceeding
by 10.1% the respective index of 2007. According to the RA National
Statistical service, GDP index-deflator made 105.1%.

Industrial production amounted to 108 bln 29.7 mln drams in
January-February 2008, growing by 3% on the same period of last
year. Industrial production without diamond production made 106 bln
633.8 mln drams, growing by 4.3%.

Gross agricultural output made 25 bln 770.9 mln dram, growing by 0.4%,
construction amounted to 18 bln 312.4 mln drams, growing by 22.9%.

Retail trade made 120 bln 928.3 mln drams in January-February 2008,
increasing by 9.4% on the same months of 2007, while services amounted
to 80 bln 151.1 mln drams, growing by 11.8%.

The consumer price index made 107%, the index of prices of
manufacturers’ production – 105.4% in January-February 2008 as compared
with the same period of 2007.

The number of officially registered unemployed made 72.4 thousand in
late February, declining by 14.3% on the same months of 2007.

The average monthly nominal salary made 83.772 thousand drams in the
first two months of 2008, or by 22.5% more than in January-February
2007. The same indices with respect to employees of budgetary
institutions made 58.834 thousand drams and 14.4%, with respect
to employees of nonbudgetary institutions – 105.629 thousand drams
and 25.3%.

Foreign trade of Armenia amounted to 687 mln USD in January-February
2008, growing by 24.3% on the same period of last year. The
same indices without diamond trade made 645.8 mln USD and 28.9%
respectively. Exports made 143.6 mln USD, increasing by 6.2%, exports
without diamond exports – 123.5 mln USD, increasing by 9.3%. Imports
made 543.4 mln USD, growing by 30.2%, imports without diamond imports –
522.3 mln USD, growing by 134.6%.

The average exchange rate of the Armenian dram against the US dollar
made 307.78 drams in January-February 2008 – against the average
exchange rate of 342.08 drams in the year 2007.