Trade and Services Soar, Mining Plummets

Armenia’s economic growth in the 3rd three-months period comprised 2,7% against last year’s same period, and 29,5% against the past three-months period, according to the statistical committee.

The GDP of 2018’s 3rd three-months period comprised 1 trillion 676 billion 535,5 million drams.

Trading and service, industry branches have contributed to the growth, the committee said.

Whereas the agriculture field has negatively impacted the GDP growth, while construction had no impact.

In the reporting period, the GDP structure is comprised – 19,1% agriculture, industry – 15,7%, construction – 7,1%, trade and services – 50,3%.

A 13,7% growth was registered in the processed industry branch compared to last year’s reporting period, with 9% growth in the wholesale and retail trading branch and 20,2% growth in the financial and insurance branch.

The decline in the mining branch against the previous three-months period comprised 6,4%, and 30,5% against last year’s same period.

10,8% drop in agriculture against last year’s reporting period has been registered, but at the same time the branch grew 155,4% against the previous three-months period.

The economic growth of the first and second three-months periods of 2018 stands at 9,7% and 7,5% respectively.

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