Armenia economic indicators continued growth in 2024

The 2024 economic activity index in Armenia grew 8% compared to 2023, according to official statistics. 

Below is the YoY data for the reporting period published by the Statistical Committee. 

Industrial production output grew 4,7% and amounted to nearly 3 trillion drams. 

Gross agricultural production volume grew 1,6% and amounted to more than 958 billion drams.

Construction grew 14,5% and amounted to more than 709,4 billion drams.

Trade turnover grew 17% and amounted to nearly 6,4 trillion drams. 

Services (without trade) grew 10,6% and amounted to nearly 3,5 trillion drams. 

The consumer price index grew 0,3%.

Electrical energy production increased 6,5% (nearly 9,4 billion kWh). The figure includes volumes generated by autonomous producers. 

The average monthly salary grew 6,4% amounting to 287,172 drams. 

Armenia’s 2024 foreign trade grew 41,5%, amounting to more than $30,1 billion.

Exports grew 53,1%, amounting to more than $13,1 billion. 

Imports grew 33,8%, amounting to over $17 billion.