CONSTRUCTION, AGRICULTURE AND SERVICES CONTRIBUTE TO ARMENIA’S 2007 ECONOMIC GROWTH

ARKA
April 2, 2008

YEREVAN, April 2. /ARKA/. Construction, agriculture and services have
contributed a great deal to Armenia’s 2007 economic growth, UN Economic
and Social Commission said after reviewing Asian and Pacific regions.

The commission also said in its review that construction growth
was due to more intensive construction of industrial facilities,
apartment blocks and offices.

According to the report, trade and communication areas were developing
in 2007.

The report says that agriculture grew 9.6% in 2007. Wheat crops
doubled reaching 450 000 tons. The commission was established in
1947. The commission is made up of 48 members and 10 associated
members representing about 60% of the world population.

National Statistical Service of Armenia says economic growth grew
13.7% in 2007 in Armenia.Construction added 4.5 points to GDP by
growing 18.4% in 2007.

Agriculture, forest economy, hunting and fishery drove the economic
growth 1.7 percentage points up after growing 9.6% over 2007.

Services’ 12.4% growth drove GDP 4 points up. Trade, catering,
transport and communication sectors’ contribution was 2.1 points
thanks to their 11.8% growth.

Industry added 0.6 points to GDP thanks to its 3.2% growth.