5.5% ECONOMIC GROWTH IN ARMENIA: IS CRISIS REALLY SURMOUNTED?
Tert.am
20.04.10
The Armenian economy has seen a 5.5% growth in the first quarter
of 2010 which might be an indicator that the country – hardly hit
by the economic crisis – is getting surmounting it given the 6.1%
downfall in the first quarter in 2009. While the GDP was 568 billion
AMD for January-March, according to a release issued by the Armenian
National Statistical Service.
It also says that with the exception of construction there has been
growth in all the sectors of the economy in the first quarter of 2010,
though the decline in this sector has significantly been eased.
According to the release the production scales in industry during the
period under discussion constituted 177.5 billion AMD which is 10.4%
more compared to last year’s data.
Agriculture has seen a 3.2% grow (42.5 billion AMD).
Interestingly, the retail sector has seen only 1% grow (211 billion
AMD).
The downfall in the construction sector made up 0.6% while at the
same period in 2009 it was 21.9% and hit an all-time record decline
in January-July – 55%.
The services sector has seen a 6.2% growth in the first quarter of
2010 which makes 174 billion AMD.
Armenia’s foreign trade has been $1.01 billion USD which has increased
by 29% in comparison to the same period in 2009. At the same time
exports have grown by 60.9% (198.5 million dram), while imports have
been increased by 23.1% which makes $814 million USD.