Armenia’s economic activity growth rates in 2017 are higher compared to 2016
YEREVAN, NOVEMBER 23, ARMENPRESS. The cumulative growth of the economic activity index as of October 2017 surpassed the figures of the previous year every month, except January-April. This means that the growth rates of the economic activity have been higher compared to the previous year, according to the data of the National Statistical Service of Armenia, reports Armenpress.
In particular, the economic activity in the 10 months of 2017 compared to the same period of 2016 increased by 7%, in case when in 2016 this figure was 0.5%. In January-October 2015 the economic activity rate increased by 3.6% compared to 2014, but in the 2014 the growth was 4.8%.
In the 10 months of 2017 compared to the previous year 12.4% growth was registered in the industrial production volume. In 2016 this figure was 6.5%, in 2015 – 4.6%, and in 2014 – 2.2%. As the numbers show, a stable growth was registered by this figure as of the past four years.
As for the services volume, 7.2% increase was recorded in January-October 2014 compared to the previous year. Whereas in 2015 a decline was recorded, comprising 2.8%. In 2016 the increase in services volume was 7.7%, in 2017 the figure surpassed the figure of 2016 by almost two times, comprising 13.9%.
The increase in imports in the 10 months of 2017 is 24.1%, but in 2016 it was 0.1% compared to the previous year. In January-October 2015 the import volumes decreased compared to January-October 2014, the growth rate is negative (-26.6%). In 2014 the import increased by 3.8% compared to 2013.
As for the export volumes, in the 10 months of 2017 the increase comprised 19.4% compared to the same period of the previous year. In January-October 2016 the export growth comprised 20.1% compared to the previous year. In 2015 the export growth was restraining (-2.2%). In the 10 months of 2014 the export growth was 2.9%.