ARMENIAN GDP DECREASED IN JANUARY-MARCH
Ara Martirosian

AZG Armenian Daily
April 21 2009
Armenia

According to the data provided by the Armenian National Statistical
Service, 6,1 percent of economic decline was recorded in Armenia
in January-March of this year. GDP decreased to AMD 465,5 billion
compared with the same period of last year.

In January-February of this year the recorded decline was 3,7
percent. Actually, the economic decline in Armenia continues to
deepen. It’s worth to mention that 22,1 percent of economic growth
was recorded in March compared with February Though quarterly decline
is perceptible.

9,5 percent of decline was recorded in industry, though 1,9 percent
of growth was recorded here in March compared with February. The
industrial decline was 9,1 percent without electricity production
The latter decreased by 16,2 percent.

Gross agriculture output decreased by 5,1 percent.

0,7 percent of decline was recorded in the sphere of services. A
growth was recorded only in retail trade – 3,9 percent.

The number of the officially registered unemployed has increased;
5,3 percent – in the first quarter of this year. The average wages
increased by 16,4 percent to AMD 97.900, in the public sector –
AMD 80.000, in the private one – AMD 123.000.

Foreign trade turnover decreased by 27,7 percent to USD 782 mln
compared with the same period of last year. Export decreased by 47
percent to USD 123 mln, import – 22,2 percent to USD 658,5 mln.

Consequently, we can say that though a little growth is recorded in
each month compared with the previous one, the economic indexes have
declined compared with the same period of last year.

It’s worth to mention that part of the big infrastructural and loan
projects hasn’t started yet, and consequently GDP growth will be
perceptible only in summer months.