Armenia’s economic activity in 2024 showed a steady growth of 8% compared to 2023. Exports increased by 53.1% year-on-year, though their growth rate slowed significantly by the end of the year, while imports rose by 33.8% over the same period.
According to data from the Statistical Committee, all key economic sectors experienced significant growth: trade volume increased by 17%, construction expanded by 14.5%, and the services sector grew by 10.6%.
Industrial production rose by 4.7%, while agriculture saw moderate growth of 1.6%.
However, in December 2024, compared to the same period in 2023, economic activity growth slowed to 4.7%. Notably, industrial production dropped by 14.8%, exports fell by 48.6%, and imports declined by 26.5%.
At the same time, the services sector grew by 19.4%, trade increased by 10.3%, and construction rose by 12.9%.
