Armenia's construction industry continues its upward trajectory, reaching a volume of $208.3 million in November 2024 - an 11.6% increase compared to the same period last year.
Over the first eleven months of 2024, the total volume of construction work amounted to $1.43 billion, marking a 14.9% rise compared to the same period in 2023.
According to Armenia’s Statistical Committee, the largest share of construction work in November was attributed to real estate operations, accounting for 42.5% of the total volume. Significant contributions also came from transport infrastructure projects (17.8%) and activities related to electricity, gas, steam, and air conditioning supply (14.7%). The wholesale and retail trade sector accounted for 4% of the construction work.
Notably, the volume of construction financed by organizations saw remarkable growth. In November, this category reached $99.5 million, reflecting an impressive 35.4% increase compared to November of the previous year.
