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2.8% year-on-year economic growth in Armenia in Jan-Sept 2010

YEREVAN, November 1. /ARKA/. Armenia’s economy grew 2.8% in Jan-Sept 2010, compared with the same period a year earlier, the National Statistical Service of Armenia reports.

The country’s GDP in current prices amounted to AMD 2386.7 billion, and the year-on-year GDP deflator index was 109.8% in Jan-Sept 2010.

According to the statistical report, the 1.1% year-on-year growth of the gross added value was in Jan-Sept 2010 against 15.8% decline in the same period of the previous year added 1.0 p.p. to the country’s real GDP.

The 15.9% growth in tax receipts in Jan-Sept 2010 contributed 1.8 percentage points to GDP growth, while a year earlier, 21.5% reduction had 2.5% hobbling effect on it.

The statistical report says that 2.7% construction growth added 0.5 p.p. to GDP growth in Jan-Sept 2010, while at the same period a year earlier this sector curbed the growth by 12.3 percentage points.

The 9.7% industrial growth, including energy sector’s growth, added 1.3 p. p. to GDP growth in Jan-Sept 2010 against 1.5% hobbling impact at the same period of the previous year.

Agriculture, forestry and fishery’s 17.8% decline had a 3.0% adverse impact on the real GDP growth in Jan-Sept 2010.

Instead, 15.9% growth in finance sector and real estate operations spurred GDP growth by 1.4 points.

The share of gross added value in the GDP structure was 88% in Jan-Sept 2010 against 89.1% at the same period a year before.

Industry’s share was 30.4% against 30%, and agriculture, forestry and fishery’s aggregate share 15.8% and construction’s 15.3%.

Trade, cars and transport made up 21.9% of the country’s GDP at the mentioned period of this year, and services constituted 43.9% of the GDP.

Taxes less subsidies made up 12% of the GDP.

Per-capita GDP amounted to AMD 733389 or $1940/€1473 in Jan-Sept 2010.

Armenia faced 16.5% economic decline in Jan-Sept 2009.

In the 2010 government budget, GDP growth is projected at 1.2%. ($1 = AMD 358.21). -0–

MACROECONOMIC INDICATORS OF ARMENIA (JanSept 2010)

Economic indicators Jan-Sept 2010 Jan-Sept 2010 compared with Jan-Sept 2009

(%)

Sept

2010 compared with July 2010 (%)

Gross Domestic Product, AMD mln:
In market prices 2,386,668.4 102.8 75.4
In basic prices 2,099,212.8 101.1 x
GDP Index-deflator, % x 109.8 x
Industrial production volume, AMD mln 579,140.7 110.9 100.1
Electricity generation, mln kW/h 4,958.0 119.4 97.9
Gross agricultural product, AMD mln 426,677.9 82.1 128.3
Construction, AMD mln 356,365.5 94.8 119.9
Foreign trade turnover, mln USD, including: 3,383.7 123.6 104.2
Exports 705.3 143.9 125.1
Imports 2,678.4 119.2 98.7
Foreign trade turnover, mln AMD, including: 106,048 107.9 102.0
Exports 751,838.5 100.4 107.1
Imports 571,923.4 107.4 103.1
Average monthly salary of one employee, AMD x 107.8 99.8

National Statistical Service of Armenia

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