Armenian services sector grows 22.9% in January-March 2023 to 675.2 bln drams

YEREVAN, May 10. /ARKA/. Armenia's service sector surged by 22.9% in the first three months of 2023 as opposed to the same months of 2022 to 675.2 billion  drams (in current prices), the National Statistical Committee (NSC) reported.

In March 2023 alone the sector grew by almost 22% to about 248 billion drams. Compared to the previous month the growth in March 2023 was 15.9%.

According to NSC, financial and insurance services accounted for 27.5 % of the total having grown by 18.5 % y-o-y to about 186 billion drams.

Information and communication services grew by 54.3% to about 143 billion drams (21.2% of the total). Transport services grew by 34.2% to about 88 billion drams (13% of the total).

Entertainment, culture and recreation services grew by 2.6% to over 64 billion drams (9.5% of the total). Catering and hotel services grew by 26.2% to over 63 billion drams (9.4% of the total), while health and social services grew by 1% to 32.2 billion drams (4.8% of the total).

Scientific and technical services grew by 25.6% to over 28.5 billion drams (4.2% of the total), real estate-related services fell by 5.8% to over 27.6 billion drams (4.1% of the total), administrative and related services grew by 1.5% to about 19 billion drams (2.8% of the total) and education services grew by 13.6% to over 18.1 drams (2.7% of the total). ($1 - 386.44 drams) -0-.