6.1% ECONOMIC DECLINE RECORDED IN ARMENIA IN JANUARY-MARCH 2009
ARKA
Apr 30, 2009
YEREVAN, April 30. /ARKA/. A 6.1% reduction was recorded in the
Armenian economy in January-March 2009 as compared with the same
period of last year.
The Gross Domestic Product (GDP) totaled 465,508.4mln Drams in current
prices in the reporting period with GDP index-deflator at 101.9%
in January-March this year against January-March 2008.
According to the statistics, 4.2% compression of gross added value in
the reporting period (as compared with 5.4% growth in January-March
2008) deterred the GDP growth by 3.5pct.
In the reporting period 15.8% reduction in tax proceeds without
subsidies (against 32.7% increase in January-March 2008) deterred GDP
growth by 2.6pct (against 4.6pct of increase in January-March 2008).
In the period, 20.5% decline in construction deterred the GDP by 1.9pct
(against 1.7pct of GDP growth in January-March 2008). 9.7% decline in
industry (including energy sector) has had minus 2.2pct negative effect
on economic growth (against 0.1pct growth in January-March 2008).
5% reduction in agriculture, forestry, hunting and fishing had minus
0.4pct effect on GDP over the period under review against 0pct effect
in January-March 2008.
1.1% compression recorded in the financial sector and real estate
transactions deterred the GDP by 0.1pct (against 2.4pct positive
effect in January-March 2008).
The share of added value was 85.2% in the GDP structure in
January-March this year against 83.3% in January-March 2008. The
share of industrial production (including energy) was 17.7% against
21.6% in January- March last year. The share of agriculture was 7.9%,
that of construction – 9.8%.
Trade, cars, transport and communication provided 25.7%, the services
sector on the whole – 53.5%.
Taxes, the subsidies exclusive, constituted 14.8% of the GDP.
GDP per capita was 143,729Drams or $441 (339 Euros) for January-March
2009.
9.2% economic growth was recorded in Armenia in January-March 2008.
Under the state budget, 9.2% growth of GDP was expected in Armenia
in 2009. ($1=372.22Drams).
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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