Armenia's economic activity grows 9.9% - National Statistical Service

Armenia's economy showed positive trends in May, according to the National Statistical Service (NSS).

The economic activity in the above period grew 109.9% compared to May 2010, and 13.7% - compared to April.

The NSS data suggest that last month's economic activity was the highest for 2011. The economic activity index in January made 106.1% compared to the same period of last year. The February, March and April records show a 100.9%, 100.3% and 107.7% growth, respectively.

Apart from construction, all the sectors of economy recorded a growth.

The volumes of industrial manufacturing made 828.8 billion drams, which is 25.1% more in comparison with the same period of 2010.

Electric energy production grew by 26.8%. The economic activity in the services sector was 5.3% higher compared to the previous year. The economic situation in the agriculture sector was almost the same, with the growth being 0.1%. As for the retail index which reflects the population's living standards it had grown only by 2%.

The annual inflation rate was 9% in May - 0.1% more compared to April.

The foreign turnover had grown by 23%, making $474 million. As for export and import volumes, they had grown by 39.7% ($114.3 million) and 18.5% ($360 million), respectively.

The average salary had grown by 7.2% (5.8% in the state sector and 6.8% - in the private sector).


/Tert.am/