Armenia's economic activity upped by 12.2% in January-April 2023 relative to the same period of 2022, the National Statistical Committee (NSC) said today.
According to it, in April 2023 alone the economic activity was up 3.4% from the previous month and up 12.1% as opposed to April of 2022.
All sectors of economy posted growth, except for electricity production and non-food prices index. During the reporting period, industrial output amounted to more than 747.8 billion drams (US$ 1.9 billion), having increased by 2.4% against January-April 2022. However, a 0.8% decline was registered in April 2023 as compared to April 2022.
The construction sector rose by 16.8%, amounting to over 94.8 billion drams. The growth in April 2023 was 19.3% compared to April 2022.
According to the statistical data, in January-April this year, domestic trade turnover surged by 23.2% year-on-year to over 1.4 trillion drams (US$ 3.6 billion). In April 2023 alone, the domestic trade increased by 28.9% from April 2022.
The services (excluding trade) grew by 22.2% from the year ago to 919.3 billion drams (US$ 2.4 billion). At the same time, in April of this year compared to April of last year, the sector saw 20.4% growth.
The National Statistical Committee did not provide data on gross agricultural output and grosss average monthly wages.
The Armenian government's growth projection for 2023 is 7%. The inflation is expected to be 4% (±1.5%). The Central Bank said earlier it expected this year's grow to amount to 5.8%, and the 12-month inflation to gradually slow down and stabilize around the target of 4% from the second half of 2023, ARKA reports.
