Armenian Economic Growth 10.3%

ARMENIAN ECONOMIC GROWTH 10,3 PERCENT

AZG Armenian Daily
23/07/2008

Economy

However, export volumes decreased

According to the operative data of the Armenian National Statistical
Service, the Armenian economic growth of January-June of this year
is 10,3 percent compared with the same period of last year. It means
that the growth is again two-digit that has not been recorded since
February of this year.

Construction continues to have high growth – 14 percent. This
time the sphere of services got ahead of construction recording 16,2
percent growth.

Industrial output volume recorded a little drop – 0,2 percent;
however, 8 percent growth is recorded here in June compared with May

The industrial decrease was 1,1 percent without energy.

Electricity production increased by 2 percent.

Gross agriculture output increased by 8,1 percent in January-June.

Retail trade turnover growth was 5 percent.

External trade turnover increased by 28,9 percent to 2 billion 428
million USD.

Export volumes first time decreased by 0,8 percent to 520,7 mln USD.

Import increased by 40,3 percent to 1 billion 907 mln USD.

The negative balance was 1 billion 487 mln USD.

The average monthly wages were about 87 thousand drams in March;
in the private sector – 106 thousand drams, in the public sector
– 61 thousand drams.

Average growth in the wages was 20,7 percent compared with the same
period of last year.