Armenia's services sector grows by 12% in January-October 2023 to about 2.5 trillion drams

YEREVAN, December 6. /ARKA/. Armenia's services sector upped by 12.1% in the first ten months of 2023 as opposed to the same months of 2022 to about 2.5 trillion drams (in current prices), the National Statistical Committee (NSC) reported.

In October 2023 alone the sector grew by 2.1 % compared to October 2022 to over 268.7 billion drams.

According to NSC, financial and insurance services dropped by 8.3% y-o-y to about 659 billion drams. Information and communications services grew by 44.1% to 522.7 billion drams. Transport services grew by 23.8% to about 33.6 billion drams. Catering and hotel services grew by 20% to 259.4 billion drams, while health and social services grew by 3.4% to about 92.7 billion drams.

Culture, entertainment and recreation services grew by 9% to 202.1 billion drams. Public health and social security services grew by 2.8% to 116.3 billion drams, professional, scientific and technical activities grew by 7.5% to 3.1 billion drams.

Real estate related activities grew by 5.5% to 96.2 billion drams, administrative and auxiliary activities increased by 6.6% to 80.7 billion drams, and education services upped by 7.4% to 60.4 billion drams. ($1 - AMD 402.95) -0-.