GDP Down 18,5% For Jan-July 2009

GDP DOWN 18,5% FOR JAN-JULY 2009

ArmInfo
2009-08-20 20:39:00

ArmInfo. GDP in Armenia was down 18.5% over Jan-July 2009. In July
versus June, GDP was up by 6,3% to 1416 bln AMD ($4.043 bln), the
National Statistical Service of Armenia reported. The GDP index
deflator grew by 0.8% per year. By the end of July 2009 dollar/dram
exchange rate was fixed at 350,51 AMD/$1.

In Jan-July 2009 construction scales fell by 55.5% if compared with
the same period of 2008 (in July versus June construction grew 4,5%)
up to 178 bln drams ($507.4 mln). Retail trade turnover for Jan-July
2009 versus the same period of 2008 was up 0.1% (15,8% growth in July
versus June) up to 500.4 billion drams ($1.4 bln).

Electricity generation was down by 10.5% for Jan-July 2009 and up by
2.4% for July versus June and totaled 3268.5 mln kWh. Foreign turnover
was down by 32.7% over Jan-July 2009 as compared to Jan-July 2008
and up by 1.6% in July as against June, having amounted to $2013.4
mln or 707.9 bln drams. In the structure of foreign turnover, export
fell by 44,5% for Jan-July and grew by 15,6% for July. Import was
down by 29.5% for Jan-July and by 1.4% in July.