MACROECONOMIC INDICATORS – ARMENIAN NUMBERS SLIDE

SteelGuru
March 4 2009
India

Interfax quoted the National Statistics Service said Armenia saw its
GDP decline 0.7%YoY to AMD 132 billion in January 2009 compared to
January 2008

GDP fell 62.8%YoY in January compared to December 2008.

Industrial production fell 6.5% to AMD 41.7 billion in January and
23.5% compared to December. Construction work increased 13.4% to
AMD 11.1 billion compared to January 2008 but plunged 87.1% against
December. Agriculture production edged up 0.4% to AMD 13.4 billion
versus January 2008 but declined 67.9% compared to December.

Retail turnover increased 5.9% to AMD 62 billion in January but fell
64.1% compared to December. Services grew 1.4% to AMD 49.8 billion but
declined 33.7% against December. Average monthly salaries increased
14.4% in January to AMD 94,246 but fell 21.7% compared to December.

Foreign trade turnover fell 24.4% to AMD 77.9 billion in January with
exports declining 43.9% to AMD 10.4 billion and imports falling 20.2%
to AMD 67.5 billion.