Armenia’s economic activity in Jan-July advances by 7 percent

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Economy

14.09.2012, 21:19

Armenia’s economic activity in January-July advanced by 7 percent when compared with the same time span in 2011, the Central Bank said presenting the results of the September 4 meeting of its Board.

Armenia’s economic activity in Jan-July advances by 7 percent

YEREVAN, September 14. / ARKA /. Armenia’s economic activity in January-July advanced by 7 percent when compared with the same time span in 2011, the Central Bank said presenting the results of the September 4 meeting of its Board.

According to a press release, the economic activity exceeded expectations due to increasing industrial and agricultural output, which jumped 13.4% and 10.2% respectively. The services grew by 5.5%; the decreasing trend in construction prevailed. The sector saw a 5.2% drop.

Exports in January-July increased by 13.1% year-on-year and imports by 6.4%. The net inflow of non-commercial individual remittances increased by 8.6% per annum.

The board also reported a 0.4% deflation in August, resulting in a 12-month inflation of 2.5%, an increase of 0.2 p.p. compared with the previous month and coinciding with the lowest threshold of the projected rate. -0-

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