ARMENIAN ECONOMIC GROWTH – 9,2 PERCENT
By Ara Martirosian

AZG Armenian Daily
22/11/2008

Economy

Decrease in growth of services and construction spheres

According to the operative data of the National Statistical Service
of Armenia, Armenian economic growth was 9,2 percent in January –
October of this year compared with the same period of last year.

GDP exceeded AMD 3 trillion.

It’s worth to mention that the economic growth was within the limits
of 10 percent during the whole year besides spring months.

The rate of growth has been decreased in the spheres of construction
and services during the last years, though they recorded the highest
indexes of growth before.

Growth in construction was 6,9 percent, services – 13,3 percent.

The volume of construction decreased by about 41 percent in October
compared with September.

Fortunately, the rate of growth in industry has increased. 4 percent
of growth has been recorded here in January – October of this year.

Volume of industrial output increased by 2,5 percent (without electric
energy production). The latter increased by 5,8 percent.

Gross agricultural output increased by 1,8 percent in January-October,
retail trade turnover – 7,9 percent.

Foreign trade turnover increased by 31,5 percent to USD 4 billion 520
million. Export volume rose a little (0,9 percent) to USD 941 million.

Import increased by 42,8 percent to USD 3 billion 579 million.

The negative balance of export-import was USD 2 billion 638
million. Cars, equipments continue to remain dominant in import.

Medium monthly wage was AMD 89 thousand in August; in the private
sector – AMD 110 thousand, in the public sector – AMD 63 thousand.

The average growth in the wages was 19,8 percent compared with the
same period of last year.