In January-April 2024, compared to the same period last year, economic activity in Armenia increased by 13.2%.
In April alone, economic activity grew by 10.4% compared to April of the previous year.
According to the Statistical Committee, in January-April of this year, industrial production increased by 26.8%, services by 3.9%, trade turnover by 26.7%, and construction by 13.7%.
In April, compared to April last year, industrial production increased by 16.3%, trade turnover by 27.2%, construction by 17.8%, while the growth in the services sector was only 0.8%.
Previously, BMG reported that Armenia's GDP in the first quarter increased by 9.2% compared to the same period last year, exceeding $5 billion. In the first quarter of 2024, Armenia's GDP per capita was 653,721 drams ($1,685) compared to 608,356 drams ($1,560) for the same period last year.
The economic growth forecast in Armenia's state budget for 2024 is set at 7%, with inflation projected at 4% (±1.5%).
