Armenia’s economic activity in the first five months of 2021 grew by 4.3% compared to the same period in 2020, the National Statistical Committee (NSC) said.
It said compared with May 2020, the economic activity in May 2021 was up by 10.9%, and compared to April 2021 it was up by 2%, ARKA reports.
According to the official data, in January-May 2021, the industrial output amounted to approximately 840.7 billion drams, having increased by 2.3% compared to January-May 2020.
At the same time, in May 2021 compared to May 2020, the output increased by 7.9%, and compared to April 2021 - by 3.4%.
Construction sector is said to have grown by 14.3% compared to the first five months of 2020 amounting to about 94.6 billion drams. In May 2021 compared to May 2020, it grew by 0.5%, and compared to April 2021 – by 17.9%.
The services sector (without trade) in January-May 2021 amounted to about 703.2 billion drams, which is 0.9% less than in January-May 2020. At the same time, in May 2021 compared to May 2020, the indicator was up by 17.3%, and compared to April 2021 - by 3.4%.
No figures are available for the agricultural sector.
The domestic trade in January-May 2021 amounted to 1.188 trillion drams, having increased by 7.4% compared to the same period in 2020. At the same time, in May 2021 the indicator increased by 17.6% as opposed to May 2020 and by 6% compared to April 2021.
According to the National Statistical Committee, Armenia's GDP in the first quarter of 2021 declined by 3.3% compared to the same period in 2020. At the same time, in comparison with the fourth quarter of 2020, GDP decreased by 34.8%. In terms of money, first quarter GDP stood at 1 trillion 284 million drams.
Armenian government's GDP growth projection for 2021 is 3.2%; inflation is expected to be 4% (± 1.5%).
