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Armenia's GDP in 2022 grew by 12.6%

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BM.GE
20.02.23 18:28
1116
Armenia's GDP in 2022 saw a growth of 12.6% compared to 2021, according to the National Statistical Committee (NSC).

In current prices, the 2022 GDP amounted to around AMD 8.5 trillion ($21.7 billion), while GDP per capita in market prices amounted to 2,861,735 drams ($6,569).

According to the official statistics, the most significant growth were reported by financial and insurance sectors, which grew by 46.9%, information and communication - 45.9%, as well as transport and storage - 45.2%.

Accommodation and catering sectors grew by 23.6%, professional, scientific and technical activities – by 19.9%, administration and related activities – by 19.7%, construction – by 18.8%, wholesale and retail trade, car and motorcycle repair - by 16.8% and processing industry – by 11.9%.

Other areas that showed growth compared to 2021 include culture, entertainment and recreation services - 9.7%, education - 7.4%, public administration, mandatory social security - 6.6%, activities related to real estate - 6.4%, water and wastewater, waste management and recycling - 6.3%, supply of electricity, gas, steam and quality air - 3.3%.

The largest decline was recorded in health care and social services - 6.3%. Decline was also observed in mining industry and operation of open mines - 3.4%, as well as in agriculture, forestry and fisheries - 0.7%.

Armenia's government growth projection for 2022 was 7%, ARKA reports.