In June this year, economic activity in Armenia saw a significant increase of 7.1% compared to the same month last year, with a growth of 10.4% for the first six months of 2024. This was reported by the Statistical Committee of the country.
The most notable growth indicators in June, compared to June of the previous year, were observed in the following sectors: construction increased by 18%, trade by 16.2%, services by 7.8%, and industry by 1.4%.
For the period from January to June this year, compared to the same period last year, the leading sectors were: trade with a growth of 22.9%, construction with 18.2%, industry with 18.2%, services with 4.4%, electricity production with 5%, and agriculture with 4%.
The slowdown in industrial growth, particularly in June, is attributed to a decline in the jewelry sector. Finance Minister Vahe Hovhannisyan previously mentioned that the cessation of the re-export flow of Russian gold through Armenia would impact the growth rates in this sector.
