Economic activity in Armenia in January increased by 7.1%

YEREVAN, February 25. /ARKA/. According to preliminary data, the economic activity indicator of Armenia showed a 7.1% increase in January 2025 compared to January 2024, reports the National Statistical Committee.

However, in the reporting month, compared to December 2024, the economic activity indicator decreased by 45.3%.

In January, the volume of industrial production amounted to 190,547.0 million drams, which is a decline of 10.4% compared to January 2024. Furthermore, compared to December 2024, the decline was 41.3%.

The volume of construction in January of this year increased by 11.6% compared to January of the previous year, reaching 19,253.5 million drams. However, compared to December of last year, this indicator decreased by 86.3%.

Meanwhile, the turnover of domestic trade in January of this year amounted to 379,155.1 million drams, which is 9.9% higher than in January of the previous year. In the reporting month, compared to December 2024, the indicator decreased by 51.8%.

According to the data, the volume of services (excluding trade) in January 2025 reached 280,031.8 million drams, which is 12.6% higher than in January 2024. Compared to December, the turnover of domestic trade decreased by 19.7%.

Numbers and forecasts for the economy of Armenia

Economic growth in Armenia for the 2025 state budget is projected at 5.1%. According to the Central Bank’s monetary policy report for the fourth quarter of 2024, Armenia’s GDP growth for 2025 is expected to range between 7.1% and 4.8%, in 2026 between 4.7% and 7%, and in 2027 between 5% and 6.2%.

The EDB forecasts Armenia’s GDP growth at 5.5% for 2025. The World Bank expects Armenia’s economy to grow by 5% in 2025, the IMF by 4.9%, the EBRD by 4.8%, and the ADB by 6%. According to Fitch Ratings, Armenia's economy is expected to grow by 4.9% in 2025, while the UN forecasts a 5.2% growth in 2025 and 4.7% in 2026.