Economic Activity Indicator in Armenia Grows by 6.5%

In the first quarter of this year, the economic activity indicator has increased by 6.5% compared to the same period last year.

According to data published by the Statistical Committee, it is notable that the economic activity indicator grew by 14.8% from February to March, while in March this year, the economic activity indicator compared to March of the previous year stood at 6.2%.

The highest growth rates were recorded in the services, construction, and trade sectors. Specifically, in the first quarter, there was a 17.3% increase in the services sector (with March showing a 16.9% increase compared to March 2018). Construction grew by 10.8% (an increase of 0.5% compared to March 2018). The trade turnover increased by 10.1% in the first quarter, placing it third.

The industrial sector saw a growth of 2% in the first quarter.

Conversely, the agriculture sector experienced a decline of 0.2% on a quarterly basis.

The consumer price index increased by 1.5%, while the industrial product price index rose by 0.3%.

In the first quarter, electricity production decreased by 14%. External trade turnover also fell by 5%.

On the other hand, the average nominal monthly salary increased by 4.3%, reaching 174,000 AMD.

The average salary in the public sector grew by 4.4%, amounting to 146,550 AMD, while the average salary in the private sector increased by 3%, reaching 189,000 AMD.

In the first quarter, both exports and imports decreased. Exports fell by 8.6%, while imports decreased by 3.1%.