ARMENIAN GDP GROWS BY 10.6% IN JANUARY-JULY 2008 ON SAME PERIOD OF 2007

Noyan Tapan

Au g 20, 2008

YEREVAN, AUGUST 20, NOYAN TAPAN. Armenian GDP grew by 10.6% in
January-July 2008 on the same period of last year and made 1 trillion
736 billion 187.7 million drams. The GDP index-defaltor made 108%.

According to the RA National Statistical Service, industrial production
grew by 1.8% in Armenia in January-July 2008 on the same months of
2007 and made 428 bln 184.9 mln drams.

The gross agricultural output increased by 6.9% to 220 bln 610.4 mln
drams, construction – by 14% to 356 bln 107.2 mln drams, retail trade –
by 6.1% to 500 bln drams, while services grew by 15% to 389 bln 82.9
mln drams.

The foreign trade of Armenia grew by 29.5% in January-July 2008 on
the same period of 2007 and amounted to 2 bln 920.2 mln USD. Exports
declined by 0.2% and made 628.1 mln USD, imports grew by 40.9% to 2
bln 292.1 mln USD.

Consumer prices rose by 9.2%, industrial production prices – by 5.8%
in January-July 2008 on January-July 2007.

The number of officially registered unemployed declined by 8.3%
in late July 2008 as compared with late July 2007 and made 76,200.

The average monthly salary made 87,908 drams in the first seven months
of 2008 (20.4% growth on the same period of 2007), including the salary
of employees of the budgetary institutions – 62,253 drams (16.7%
growth) and the salary of employees of non-budgetary institutions –
108.679 drams (19.6% growth). The average exchange rate of a US dollar
made 306.84 drams in January-July 2008 (this index made 342.08 drams
in 2007).