Armenia’s GDP Contracts By 14.4% In 2009: Statistics

ARMENIA’S GDP CONTRACTS BY 14.4% IN 2009: STATISTICS

ARKA
Feb 2, 2010

YEREVAN, February 2, /ARKA/. Armenia’s GDP contracted by 14.4% in
2009, the country’s National Statistical Service said. In terms of
money the GDP dropped to AMD 3.165.5 trillion in current prices,
while the GDP deflator index was 101.5 % from the previous year.

The construction sector plunged last year by 42.3%, while the
industrial fall, including power production, was 7.6%. The agriculture,
forestry and fishing fell by 0.1% without producing any influence on
the GDP change.

The 3.5% growth in financial sector and in real property deals had an
0.3% upward impact on the GDP. The gross added value comprised 89.5%
of the GDP, up from 88.9% in 2008. At that the industrial share,
power production included, comprised 13.6%, up from 13.1% a year
before. The share of agriculture, forestry and fishing totaled 16.2%
and that of construction-18.8%. The share of trade, transport and
communications was 20% and that of services 13.1%.

Taxes, subsidies deducted, made 10.5% of the GDP. The per capita
income was 975,753 Drams or $2,686 or 1,923 Euros. In 2008 Armenian
economy grew by 6.8%.