ARMENIAN GDP DECLINES 9.7% IN JANUARY-APRIL 2009 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
May 22, 2009

YEREVAN, MAY 22, NOYAN TAPAN. Armenia’s GDP declined by 9.7% in
January-April 2009 on the same period of 2008 and amounted to 638bn
939m drams (more than 1bn 894.4m USD as calculated at the average
exchange rate of 337.72 drams against a dollar in January-April). The
index-deflator of GDP made 101.8%.

According to data of the RA National Statistical Service, industrial
production of Armenia declined by 11.1% in January-April 2009 on the
same months of last year and made 176bn 967.6m drams.

Gross agricultural output fell by 4.1% to 57bn 28.4m drams,
construction declined by 42.4% to 51bn 508.5m drams, retail trade
grew by 2.5% to 262bn 210.5m drams, and services declined by 0.6%
to 261bn 733m drams.

The foreign trade of Armenia fell by 30% to 1bn 69.1m USD in
January-April 2009 on the same period of last year and amounted to
1bn 69.1m USD, with exports declining by 47.8% to 175.6m USD and
imports declining by 25% to 893.5m USD.

Consumer prices increased by 2.3%, industrial production prices fell
by 5.9% in January-April 2009 on the same months of 2008.

The number of officially registered unemployed grew by 6.5% in late
April 2009 as compared with the same month of last year and made
81.2 thousand.

The average monthly nominal salary made 96,875 drams in January-April
2009 (13.2% growth on the same months of 2008), including 80,937 drams
in the state sector (17.9% growth) and 120,427 drams in the non-state
sector (7.4% growth). The average exchange rate of a US dollar made
337.27 drams in January-April 2009.