ARMENIAN GDP IN 2010 JANUARY GROWS BY 2.4 PERCENT YEAR-ON-YEAR

ARKA
March 1, 2010

YEREVAN, March 1. /ARKA/. Armenia’s economy in 2010 January grew by
2.4% if compared to 2009 January, the National Statistical Service
reported. The overall GDP in current prices totaled 149.5 billion
Drams, the GDP deflator index was 110.5% against 2009 January.

According to official figures, construction sector grew by 5% resulting
in a 0.4 percentage point upward impact on the GDP, as much as in
2009 January. The 1.9% industrial output growth resulted in a 0.4
percentage point upward effect on the GDP, against 1.5 percentage
point restricting impact in 2009 January.

Agriculture, forestry and fishery sectors grew by 1.3% resulting
in a 0.3 percentage point upward effect on the GDP. The 2.7% growth
in financial sector and real estate transactions had a 0.3% upward
impact on the GDP.

The share of gross added value in the GDP in 2010 January was 81.1%
against 81.5% in 2009 January. The share of industrial output, energy
sector including, comprised 22.5%, up from 20.3% in 2009 January. The
share of agriculture, forestry and fishery constituted 9.1% and
that of construction -6.8%. The share of trade, vehicles , transport
and communications was 25.9% and that of services-46.4%. Taxes less
subsidies made 18.9% of the overall GDP.

Per capita GDP was 45, 987 Drams or $122 or ~@85. Armenian economy
in 2009 January fell by 0.7%. The government projects a 1.2% economic
growth in 2010. ($1- 384.37 Drams).