27.Apr .2022 13:30

Armenia's economic activity ups 9.6% in first quarter of 2022

Armenia's economic activity ups 9.6% in first quarter of 2022
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Armenia's economic activity in the first quarter of 2022 grew by 9.6% compared to the same period of 2021, the National Statistical Committee (NSC) reported.

It said the economic activity in March 2022 was up 6.7% when compared to March 2021 and up 8.4% compared to February, 2022.

According to the official data, the industrial output amounted to over 550.7 billion drams, having increased by 3.1% from the first quarter of 2021. In March 2022, industrial output dropped by 6.9% from March 2021 and by 1.3% when compared to February 2022.

The agricultural output during the reporting period amounted to about 79.1 billion drams, decreasing by 5.4% from the same period of 2021.

The construction sector grew by 6.2% to about 56 billion drams. Compared to March 2021, the growth in March 2022 was 8.2% and 25% when compared to January 2022.

According to the statistical data, in January-February 2022, domestic trade turnover amounted to over 781.1 billion drams (7.6% growth from the first quarter of 2021). The domestic trade rose by 6.6% in March compared to March last year, and 10.8% compared to February 2022.

The services sector (excluding trade) in January-March 2022 amounted to over 503.2 billion drams, which is 22.2% higher than in the first three months of 2021. At the same time, in March 2022 compared to March 2021, the figure increased by 25.9%, and compared to February 2022 - by 16%, ARKA reports.