Economic Activity in Armenia Rises by 9.6%: Babken Tunian

Member of Parliament Babken Tunián shared on his Facebook page, "Regarding some economic indicators. In the first quarter of this year, Armenia's economic activity has increased by 9.6% compared to the first quarter of last year.

By sectors, the services sector saw the fastest growth, rising by 22.2% (volume: 503.2 billion drams). The growth in the services sector was mainly driven by the following areas: accommodation and food services (40.8% increase), transportation (60.4% increase), and information and communication (24.5% increase). This is partly due to the low baseline figures from the first quarter of last year.

The culture, entertainment, and recreation sector (of which a significant portion is the gaming sector) grew only by 2.9%. Industry increased by 3.1%, with the industrial production volume reaching 550.7 billion drams. The growth in industry was supported by the manufacturing sector, which grew by 10.9% (volume: 304 billion drams). However, the mining sector experienced a decline of 12.9%."