GDP OF ARMENIA GROWS BY 9.3% IN JANUARY-APRIL 2008 ON SAME MONTHS OF 2007

Noyan Tapan

Ma y 20, 2008

YEREVAN, MAY 20, NOYAN TAPAN. Armenia’s GDP grew by 9.3% in
January-April 2008 on the same period of 2007 and made 696 bln 104.7
mln drams (about 2 bln 257.9 mln USD). The GDP index-deflator made
106.8%.

According to the RA National Statistical Service, industrial production
grew by 0.1% in Armenia in January-April 2008 on the same months of
2007 and made 226 bln 590.6 mln drams.

The gross agricultural output increased by 1.3% to 64 bln 164.5
mln drams, construction – by 16.8% to 71 bln 132.9 mln drams, retail
trade – by 3.5% to 253 bln 592.1 mln drams, and services grew by 11.2%
to 171 bln 740.8 mln drams.

Armenia’s foreign trade grew by 28.3% as compared with January-April
of last year and made 1 bln 531.4 mln USD, with exports growing by 4.4%
to 337.2 mln USD, imports – by 37.2% to 1 bln 194.2 mln USD.

Consumer prices rose by 8.6%, industrial production prices – by 3.1%
in January-April 2008 on January-April 2007.

The number of officially registered unemployed persons declined
by 11.6% in late April 2008 on the same date of 2007 and made 76.3
thousand.

The average monthly nominal salary made 85.72 thousand drams in the
first four months of 2008 (22.3% growth on the same period of last
year), including the salary of employees of budgetary institutions
– 61.101 thousand drams (17.8% growth) and that of employees of
nonbudgetary institutions – 107.293 thousand drams (23% growth). The
average exchange rate of a US dollar made 308.3 drams in January-April
2008. The same index in 2007 made 342.08 drams.