Armenia’s economic activity grew by 7.4% in January–February 2026 compared to the same period last year, driven primarily by strong performance in construction and industry.

Construction led growth, expanding by 20.5% year-on-year to AMD 53.9 billion. February alone recorded a 40.7% increase compared to January and a 21.8% rise year-on-year, reflecting intensified infrastructure activity.

Industrial output rose by 17.2% to AMD 491.5 billion, with February showing a 12.2% monthly increase and a 23.8% annual gain, indicating sustained production momentum.

Trade turnover grew more modestly, up 3.3% to AMD 892.2 billion, though February saw stronger short-term growth. The services sector (excluding trade) expanded by 7.2% to AMD 630.3 billion, despite a slight monthly dip in February.

Inflation remained elevated, with consumer prices rising 4.1% year-on-year in January–February and 4.3% in February alone. Producer prices increased more sharply, up 9% over the same period.

Electricity generation reached 1.82 billion kWh, marking a 7.1% increase year-on-year, although February output declined slightly on a monthly basis.

—