ARMENIAN GDP GROWS BY 9% IN JANUARY-MARCH 2008 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
April 21, 2008

YEREVAN, APRIL 21, NOYAN TAPAN. In January-March 2008, Armenia’s GDP
grew by 9% as compared with the same months of 2007 and made 483 bln
102.9 mln drams (over 1 bln 578.3 mln USD). The GDP index-deflator
made 105.6%.

According to the RA National Statistical Service, industrial production
grew by 0.2% to 168 bln 858.5 mln drams in Armenia in January-March
2008 on the same period of 2007.

Gross agricultural output increased by 0.5% to 44 bln 799.8 mln drams,
construction – by 22.5% to 40 bln 772.8 mln drams, retail trade –
by 4.5% to 184 bln 341.6 mln drams, while services increased by 10.8%
to 123 bln 282.7 mln drams.

Foreig trade of Armenia grew by 23.6% as compared with January-March
of 2007 and amounted to 1 bln 82.9 mln USD, with exports growing by
1.6% to 234.7 mln USD, imports – by 31.5% to 848.2 mln USD.

Consumer prices rose by 7.9%, industrial production prices – by 4.3%
in January-March 2008 on the same period of 2007.

The number of officially registered unemployed declined by 12.7% in
the first quarter of 2008 on the same period of last year and made
74.7 thousand.

The average monthly nominal salary made 86.503 thousand drams (25.1%
growth), including the salary of employees of budgetary institutions –
60.618 thousand drams (17.6% growth) and the salary of employees of
nonbudgetary institutions – 109.268 thousand drams (27.4% growth). The
average exchange rate of a US dollar made 308.06 drams in January-March
2008 – against 342.08 drams in the year 2007.

From: Emil Lazarian | Ararat NewsPress