Economic activity in Armenia increased by 9% in 8 months

YEREVAN, September 25 /ARKA/. According to preliminary data, the economic activity indicator of Armenia in January-August 2024 registered a growth of 9% compared to the same period in 2023, the National Statistical Committee reports.

Moreover, in August of this year, compared to August of last year, the economic activity indicator grew by 5.6%, and compared to July of the same year – by 7.2%.

According to the data presented, growth for the first eight months of the current year was recorded in all sectors of the economy presented; data on the agricultural sector and average monthly nominal wages are not provided.

During the reporting period, the volume of industrial production amounted to 1,877,920.0 million drams, increasing by 13.7% compared to January-August 2023. At the same time, in August, the growth was 2.1% for the year, and 7.5% for the month.

The volume of construction for 8 months of 2024, compared to the same period in 2023, increased by 16.2% and amounted to 330,735.4 million drams. In August, this figure increased by 16.5% year-on-year and by 24.8% month-on-month. 

At the same time, the domestic trade turnover for January-August of this year reached 3,862,295.7 million drams, which is 20.4% higher than the figure for the same period last year. Moreover, in August, compared to August 2023, the growth was 14.9%, and compared to July of the same year - 2.5%. 

According to statistics, the volume of services (excluding trade) for the reporting period reached 2,145,824.0 million drams, which is 5.2% higher than the same indicator last year. In August, the growth was 9.5% for the year, and 8.5% for the month. -0-