GDP Grows By 9.4% In Armenia In January-February 2007 On Same Months

GDP GROWS BY 9.4% IN ARMENIA IN JANUARY-FEBRUARY 2007 ON SAME MONTHS OF LAST YEAR

Noyan Tapan
Mar 21 2007

YEREVAN, MARCH 21, NOYAN TAPAN. In January-February 2007, Armenia’s
GDP grew by 9.4% on the same months of last year and made 186 bln
799.3 mln drams (over 519.1 mln USD). GDP index-deflator made 103.5%.

According to the RA National Statistical Service, in January-February
2007, industrial production declined by 1% in Armenia on the same
months of last year and made 93 bln 635.1 mln drams, that without
diamond production increased by 5.6% and made 92 bln 906 mln drams.

The gross agricultural output grew by 2.4% to 25 bln 313.1 mln drams,
construction – by 12.4% to 14 bln 436.5 mln drams, retail trade –
by 6.9% to 101 bln 767 mln drams, services grew by 14.6% to 72 bln
45.1 mln drams.

The foreign trade of Armenia increased by 51.5% on January-February
2006 and made 552.6 mln USD. Export grew by 18.9% to 135.2 mln USD,
import – by 66.2% to 417.4 mln USD. Foreign trade without diamond trade
grew by 65.9% to 501.2 mln USD, export – by 33.6% to 113.1 mln USD,
import – by 78.5% to 388.1 mln USD.

In January-Feruary 2007, consumer prices increased by 5.1% on the same
months of 2006, while prices of industrial production fell by 0.9%.

Monetary incomes of the population increased by 18.9% in
January-February 2007 on the same period of last year and made 229 bln
349.5 mln drams, monetary expenditures increasd by 19.5% and made 244
bln 438.7 mln drams. The average monthly nominal salary made 68.298
thousand drams (25.2% growth), including the salary of employees of
budgetary institutions – 51.944 thousand drams (26.5% growth), that
of employees of non-budgetary institutions – 83.683 thousand drams
(24.7% growth). In January-February 2007, the average exchange rate
of one US dollar made 359.85 drams, while in 2006 – 416.04 drams.

The number of officially registered unemployed persons made 84.5
thousand in Armenia in late February 2007, declining by 5.4% compared
with the respective index of last year.