GDP Of Armenia Drops By 15.7% In January-May 2009 On Same Period Of

GDP OF ARMENIA DROPS BY 15.7% IN JANUARY-MAY 2009 ON SAME PERIOD OF 2008

Noyan Tapan
June 19, 2009

YEREVAN, JUNE 19, NOYAN TAPAN. Real GDP of Armenia in January-May
2009 made up 84.3% of the country’s GDP in the same period of last
year (that is, it dropped by 15.7%) and amounted to 839bn 356m drams
(over 2bn 439m USD as calculated at the average exchange rate of 344.31
drams per dollar in January-May). The index-delator of GDP made 101.4%.

According to RA National Statistical Service, industrial production
fell by 10.5% to 226bn 890m drams in Armenia in January-May 2009 on
the same months of 2008.

The gross agricultural output fell by 2.9% to 81bn 129m drams,
construction – by 56.1% to 72bn 971m drams, retail trade grew by 0.2%
to 335bn 508m drams, and services declined by 1.7% to 274bn 733m drams.

The foreign trade of Armenia fell by 33.7% compared with January-May
2008 and made 1bn 312m USD, with exports falling by 47.8% to 220.1m
USD and imports declining by 29.9% to 1bn 92m USD. The foreign trade
turnover in May made up 84.1% of the foreign trade in April, with
imports making 83.8% respectively.

Consumer prices rose by 2.5%, while industrial production prices fell
by 4.3% in January-May 2009 on the same period of 2008.

The number of officially registered unemployed grew by 9.8% to 83.9
thousand in late May 2009 as compared with the same month of 2008.

The average monthly nominal salary amounted to 97,527 drams in
January-May 2009 (a 13.4% growth on the same period of 2008), including
the average salary of 80,857 drams in the state sector (17.6% growth)
and the salary of 121,990 drams in the non-state sector (7.9% growth).

From: Emil Lazarian | Ararat NewsPress