ARMENIAN ECONOMIC GROWTH – 7,2 PERCENT
By Ara Martirosian
AZG Armenian Daily
23/12/2008
Rate of growth decreased
According to the National Statistical Service of Armenia, the Armenian
economic growth in January-November of this year was 7,2 percent
compared with the same period of last year.
GDP was AMD 3 trillion 290 billion. It’s worth to mention that almost
all the indexes of November decreased (compared with October). It’s not
a secret that it is conditioned by the impact of the world economic
crisis on the main economy branches of Armenia (mining industry,
construction, etc.).
Mainly, 1,6 percent of growth in construction is recorded. The growth
rate in the sphere of services remained high – 13,3 percent.
Industry increased by 2,9 percent (1,6 percent without energy). Here
we should mention about the forced truancies in 3 big mining industry
plants (Alaverdi, Agarak and Kapan conglomerates).
Electric energy production increased by 5 percent.
Gross agriculture output had a little growth in January-November –
0,1 percent, the retail trade turnover – 6,2 percent.
External trade turnover increased by 27,6 percent to approximately
USD 4 billion 992 million.
Export volumes decreased by 4,5 percent to USD 1 billion 7 million.
Import increased by 39,5 percent to USD 3 billion 985 million. It’s
worth to mention that the growth rate of import decreased by 10
percent in November (compared with October).
The negative balance of export-import was USD 3 billion 978 million.
The average monthly nominal wage in Armenia was USD 89 thousand (in
the private sector- about AMD 111 thousand, in the public sector –
about AMD 63 thousand).
The average growth in wages is recorded 18,8 percent compared with
the same period of last year.