ARMENIAN GDP GROWS BY 9.2% IN JANUARY-OCTOBER 2008 ON SAME PERIOD OF 2007

Noyan Tapan

Nov 21, 2008

YEREVAN, NOVEMBER 21, NOYAN TAPAN. Armenian GDP grew by 9.2% in
January-October 2008 on the same period of last year and made 3
trillion 10 billion 472.9 million drams (more than 8 bln 842.6 mln
USD). The GDP index-deflator made 110.8%.

According to the RA National Statistical Service, the industrial
production grew by 4% to 639 bln 445.2 mln drams in January-October
2008 on the same months of 2007.

The gross agricultural output increased by 1.8% to 576 bln 601.4 mln
drams, construction by 6.9% to 685 bln 105.5 mln drams, retail trade
by 7.9% to 793 bln 383.8 mln drams, and services by 13.3% to 589 bln
901.6 mln drams.

The foreign trade of Armenia grew by 31.5% as compared with
January-October 2007 and made 4 bln 520.4 mln USD. Exports grew by 0.9%
to 941.2 mln USD, imports grew by 42.8% to 3 bln 579.2 mln USD.

The consumer prices rose by 9.6%, the industrial production prices
by 5% in January-October 2008 on the same months of last year.

The number of officially registered unemployed persons declined by
6.4% and made 75.3 thousand in late August 2008 as compared with the
same month of 2007.

The average monthly nominal salary made 89,164 drams in the first ten
months of 2008 (19.8% growth on the same period of 2007), including
the average salary of employees of the state budgetary sector – 63,256
drams (20% growth) and that of employees of the nonbudgetary sector –
110,191 drams (18.4% growth). The average exchange rate of the dollar
made 305.86 drams in January-October 2008 (this index made 342.08
drams in 2007).