ARMENIAN GDP DROPS BY 16.3% IN JANUARY-JUNE 2009 ON SAME PERIOD OF 2008

Noyan Tapan
July 21, 2009

YEREVAN, JULY 21, NOYAN TAPAN. Armenia’s GDP dropped by 16.3%
in January-June 2009 on the same period of 2008 and amounted to 1
trillion 119 billion 368 million drams (about 3bn 66m 766 thousand
USD). The GDP index-deflator made 102.1%.

According to the RA National Statistical Service, industrial production
fell by 11.5% to 281bn 487.8m drams in January-June 2009 on the same
months of last year.

The gross agricultural output fell by 2.5% to 123bn 493.4m drams,
construction fell by 53.5% to 124bn 593.7m drams, the retail trade
remained at the same level and made 413bn 523.8m drams, while services
grew by 0.9% to 339bn 787.4m drams.

Armenia’s foreign trade declined by 31.5% in January-June 2009 on
the same period of 2008 and amounted to 1bn 659.9m USD, with exports
falling by 45.9% to 281.3m USD and imports declining by 27.5% to 1bn
378.6m USD.

Consumer prices rose by 2.7%, industrial production prices fell by 3.1%
in Armenia in January-June 2009 as compared to the same period of 2008.

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

The average monthly nominal salary amounted to 93,138 drams
in January-June 2009 (12.7% growth on the same period of 2008),
including the average salary of 81,282 drams (17.4% growth) in the
state sector and the average salary of 122,579 drams (6.9% growth)
in the non-state sector.

The average exchange rate of a US dollar made 348.04 drams in
January-April 2009.