YEREVAN, January 16. /ARKA/. Armenia’s economic activity increased by 14.4% y/y in January-November 2022, the Eurasian Development Bank (EDB) said in its weekly macro review.
The country’s economic activity grew by 13.8% y/y in November after a 17.5% surge in October. The drop was from the slowdown in the service sector and a decline in industrial output (+30.9% y/y and -2.3% y/y in November). In November, strong dynamics of foreign trade was preserved with exports increasing by 95% yoy.
Also, EDB stated that inflation in Armenia continued to slow down and made 8.3% y/y in December (8.8% a month earlier).
“Such dynamics was contributed by the slowdown in price increases for food and non-food products. A disinflationary effect on prices was also due to the strengthening of the Armenian dram. Prices of services grew in December on the background of high consumer demand,” the bank noted. –0–
