Armenia's economic activity in 2022 was up 14.2% as opposed to the previous year, according to the numbers, released by the National Statistical Committee (NSC).

It said the economic activity surged by 21.5% in December 2022 compared to November, and by 12.8% compared to December 2021.

According to the official data, all sectors of the economy saw growth in 2022. The industrial output amounted to approximately about 2.76 trillion drams (US$ 10 bln), having increased by 7.8% from 2021.

In December 2022, compared to November, the sector increased by 13.5%, and by 2.7% compared to December 2021.

The construction sector rose by 12.5% to 541.1 billion drams. In December 2022 compared to November it saw a growth of 69.8% and a 7.3% rise compared to December 2021.

The services sector (without trade) amounted to about 2.6 trillion drams (US$ 6.6 bln), which is 28.2% higher than in January-December 2021. The figure rose by 8.7% in December 2022 compared to November 2022, and by 27.9% compared to December 2021.

According to the statistical data, the domestic trade turnover in 2022 amounted to about 4.3 trillion drams (US$ 11 bln), having increased by 17% compared to the same period of 2021. The figure rose by 22.4% in December 2022 compared to November 2022, and by 23.9% compared to December 2021.

According to the Statistical Committee, the average gross monthly wage in December 2022 grew by 15.5% year-on-year to 235,576 drams (US$ 595), ARKA reports.