Armenia's services sector grows by almost 15% in January-August 2023 to about 2 trillion drams

YEREVAN, October 9. /ARKA/. Armenia's service sector surged by 14.8% in the first eight months of 2023 as opposed to the same months of 2022 to about two trillion drams (in current prices), the National Statistical Committee (NSC) reported.

In August 2023 alone the sector grew by 13.8% compared to August 2022 to over 268.7 billion drams.

According to NSC, financial and insurance services dropped by 6.2% y-o-y to over 517.1 billion drams. Information and communication services grew by 51.7% to over 413.4 billion drams. Transport services grew by 30.8% to about 267 billion drams.

Catering and hotel services grew by 22% to about 204.2 billion drams, while health and social services grew by 3.4% to about 92.7 billion drams.

Scientific and technical services grew by 8.6% to about 85.4 billion drams, real estate-related services grew by 1.4 % to about 76 billion drams, administrative and related services grew by 6.7% to about 61.4 billion drams and education services grew by 10.5% to over 44.4 billion drams (2.4% of the total). ($1 – 410.12 drams) -0-.