Thu, 2 October
13.1 C
Yerevan
USD: 382.74 RUB: 4.68 EUR: 448.80 GEL: 140.69 GBP: 515.63

Armenia’s economy grows 2.6% in 2010

YEREVAN, January 31. / ARKA /. Armenia’s economy grew by 2.6% last year if compared to 2009, up from government- projected 1.2% growth , according to the latest data released by the country’s National Statistical Service, which said the GDP, if measured in current prices, amounted to 3.5 trillion Drams. The GDP’s deflator index was 110.2% if compared to 2009. The per capita GDP was 1,077,961 Drams or $2,885 or 2,173 Euro.

According to the data, the 1.8% growth in the gross added value (as opposed to 13.3% decline in 2009) , accounted for a 1.6 p.p. GDP growth in 2010. The 9.4% rise in tax revenues (as opposed to 20.7% drop in 2009) helped the GDP go up by 1 p.p. The 3.7% construction sector growth pushed the GDP up by 0.6% (for comparison it pushed GDP down 10.7% in 2009). The 9.5% growth in electricity production pushed the GDP up by 1.3 p.p, but a 13.4% decline in agriculture, forestry and fishing took it down by 2.2 p.p. The 6.3% growth in financial sector and real estate transactions had a 0.6 p.p. positive effect on GDP.

The share of gross added value in the GDP last year amounted to 88.9%, down from 89.3% in 2009. The share of industrial output, electricity production included, made 31.8%, up from 31.4% in 2009. The agriculture, forestry and fishing accounted for 16.9% of the GDP, construction for 16.9%, trade, transport and communications accounted for 21% and services for 41.9%. Taxes, less subsidies, made 11.1% of the overall GDP. ($1-362,84 Drams). -0-

2010 macroeconomic indicators

Economic indicators 2010 2010 against 2009 (%) Dec. 2010 as opposed to Nov. 2010. (%)
GDP, (AMD, mln)
In market prices 3,509,624.8 102.6 116.1
In basic prices 3,120,577.8 101.8 x
GDP deflator-index, % x 110.2 x
Industrial output (AMD, mln) 824,292.2 109.7 106.0
Electricity production (KWh 6,491.3 114.5 159.6
Agricultural GDP (AMD, mln) 637,565.5 86.5 60.6
Construction volume (AMD, mln) 579,790.9 96.7 109.6
Foreign trade (AMD, mln), incl. 4,794.3 118.9 112.1
Exports 1,011.4 142.4 113.0
Imports 3,782.9 113.9 111.8
Medial monthly wage (AMD) 108,852 106.7 126.6
Retail trade (AMD, mln) 1,159,766.6 100.6 173.3
Services (AMD, mln) 788,805.4 103.8 118.0
Consume prices index x 108.2 101.8
spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img