ARMENIAN GDP GROWS BY 10.3% IN JANUARY-AUGUST 2008 ON SAME PERIOD OF 2007

Noyan Tapan

Se p 19, 2008

YEREVAN, SEPTEMBER 19, NOYAN TAPAN. Armenian GDP grew by 10.3% in
January-August 2008 on the same period of 2007 and made 2 trillion
164 billion 567.8 million drams (about 7 bln 68.44 mln USD). The GDP
index-deflator made 109.6%.

According to the RA National Statistical Service, industrial production
grew by 2.2% in Armenia in January-August 2008 on the same months of
last year and made 496 bln 157 mln drams.

The gross agricultural output increased by 7.8% to 347 bln 380.2 mln
drams, construction – by 12.8% to 465 bln 849.6 mln drams, retail
trade – by 6.3% to 593 bln 639.2 mln drams, and services grew by 15.1%
to 453 bln 999.3 mln drams.

The foreign trade of Armenia increased by 24.8% in the indicated
period as compared with January-August 2007 and amounted to 3 billion
308.9 million USD, with exports declining by 4.8% to 696.8 mln USD,
while imports growing by 36% to 2 bln 612.1 mln USD.

Consumer prices rose by 9.5%, industrial production prices by 6%
in January-August 2008 on January-August 2007.

The number of officially registered unemployed persons declined by 7.8%
in late Augsut 2008 as compared with late August 2007 and made 75,600.

The average monthly nominal salary made 88,983 drams in the first
eight months of 2008 (21.2% growth on the same period of last year),
including salary of employees of budgetary institutions – 62,721 drams
(17.8% growth) and that of employees of nonbudgetary institutions –
110,154 drams (20.1% growth). The average exchange rate of the US
dollar made 306.23 drams in January-August of this year (in 2007 this
index made 342.08 drams).