ARMENIA’S GDP DECLINES BY 18.4% IN JANUARY-AUGUST 2009 ON SAME PERIOD OF 2008

NOYAN TAPAN
SEPTEMBER 22, 2009
YEREVAN

Armenia’s GDP declined by 18.4% in January-August 2009 on the same
period of last year and made 1 trillion 761 billion 874 million drams
(about 4,987.1 million USD). The index-deflator of GDP made 100.2%.

According to the RA National Statistical Service, industrial production
fell by 11.9% to 393bn 825.9m drams in January-August 2009 on the
same months of 2008.

The gross agricultural output declined by 1.5% to 281bn 546.7m drams,
construction volumes fell by 52.6% to 242bn 219.5m drams, retail trade
grew by 0.3% to 596bn 127.2m drams, while services declined by 1.4%
to 467bn 441.8m drams.

The foreign trade of Armenia dropped by 29.1% as compared with
January-August 2008 and amounted to 2bn 360.4m USD, with exports
declining by 41.1% to 408.9m USD and imports declining by 27% to 1bn
951.5m USD.

Consumer prices rose by 2.8%, industrial production prices fell by 0.5%
in January-August 2009 on the same period of 2008.

The number of the officially registered unemployed increased by 10.8%
in late August compared to the same month of last year and made
83.8 thousand.

The average monthly nominal salary amounted to 99,061 drams in
January-June 2009 (12.3% growth on the same months of 2008), including
the salary of 82.026 drams in the state sector (18.2% growth) and
the salary of 123,620 drams in the non-state sector (7.3% growth).

The average exchange rate of one US dollar amounted to 353.29 drams
in January-April 2009.

From: Emil Lazarian | Ararat NewsPress