Armenia's economic growth was highest among EEU countries in 2022
YEREVAN, December 7. /ARKA/. Armenia's economic growth of 12.6% in 2022 was the highest among the Eurasian Economic Union (EEU) member countries, the Eurasian Economic Commission says in its 2022 yearbook.
In Kyrgyzstan, GDP growth amounted to 6.3%, in Kazakhstan – to 3.2%, while in Belarus and Russia it declined by 4.7% and 2.1%, respectively. The EEU economy, as a whole, contracted by 1.6% in 2022.
In nominal terms, Armenia's GDP in 2022 grew to $19.5 billion, Russia' s GDP was about $2.3 trillion, that of Kazakhstan -$225.3 billion, Belarus' economy grew to $73 billion and Kyrgyzstan's to $11.5 billion.
Armenia's agricultural output was the smallest in the EEU growing by 1.6% to $2.5 billion. Russia's agriculture posted 1.3% growth.
In terms of industrial output Armenia was second with 8.7% growth after Kyrgyzstan (11.4%). Last year Armenia's industrial production amounted to $6.3 billion. By this indicator Armenia surpassed only Kyrgyzstan ($5.2 billion).
According to the National Statistical Committee, Armenia's GDP in the third quarter of 2023 expanded by 7.4% compared to the same period of 2022. In nominal terms, the GDP in current prices in the third quarter was about AMD 2.6 trillion. GDP per capita in market prices was 862,991 drams, or 2,233 US dollars or 2,050 euros.
Gross production in the agricultural, forestry and fishery sectors in 9 months increased by 1.6% to 658.9 billion drams
The industrial production in 10 months of 2023 amounted to 2.1 trillion drams, decreasing by 0.5% compared to the same period of 2022.
Armenian government's growth forecast for 2023 is 7%, the Central Bank's forecast is 7.2. ($1 - 403.10 drams) -0-
