Economic growth in Armenia makes 12.1% in January-July 2007

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Economy

01.09.2007, 06:25

The economic growth in Armenia made 12.1% in January-July 2007 as compared to January-July 2006. The Armenian National Statistical Service reported that the volume of the GDP during the accounting period made AMD 1,287,648mln (in current prices).

YEREVAN, August 31. /ARKA/. The economic growth in Armenia made 12.1% in January-July 2007 as compared to January-July 2006. The Armenian National Statistical Service reported that the volume of the GDP during the accounting period made AMD 1,287,648mln (in current prices).

The GDP volume in July 2007 exceeded the volume of the previous month by 38.5%.

The GDP index-deflator of January-July 2007 made 104.3%. According to the statistics, 9.2pct of the real growth of the GDP in the country was provided due to 10.3% gross value cost (9.1pct in January-July 2006), and 2.9pct due to 28.5% growth of taxes deducting the subsidies (1.4pct in January-July 2006).

During the accounting period the growth in the construction sphere by 21.7% had upward influence on the GDP change by 4.1pct (against 6.1pct in January-July 2006). The influence of the industry (including energy) on the economic growth made 0.5pct (growth of branch by 2.1%).

The influence of the rural economy, forestry, hunt, fish industry on the economic growth by 2.3% growth of the volume of production had upward influence by 0.4pct (in January-July 2006 – downward influence by 0.7pct).

The recorded 13.5% growth of activity in the sphere of service provision had upward influence on the GDP changes by 4.3pct (3.9pct in January-July 2006). The influence of the spheres of trade and catering, transport and communications on the GDP growth during the accounting period made 1.9pct, thus increasing by 12.2% in January-July 2007.

In the GDP structure the unit weight of the added value made 88.4% at the share of 89.7% in January-July 2006. The unit weight of the industrial production made 19.7% against 22.7% in January-July 2006.

The share of the rural economy reduced by 1.4pct up to 15.6% and the construction – increased by 1.8pct up to 20.8%. At the same time the share of the trade, catering, transport and communications fell to 15.5%, and as a whole – 33.6%.

The taxes deducting subsidies made 11.6% of the GDP.
The GDP per person made AMD 399,444 or $1128 (EUR 846) in January-July 2007.

In January-July 2006 the economic growth made 10.5%.

According to the state budget, the GDP in Armenia in 2007 is planned at the level of 11%. ($1 – AMD 336.49). L.M. –0--