Economic activity in Armenia in January 2024 compared to the same period last year amounted to 10.7%.
According to the Armenian Statistical Committee (Statkom Armenia), several key sectors contributed positively to the growth of economic activity, including construction, industry, and the services sector. In January, the volume of construction increased by 9.5%, the volume of services grew by 4.4%, and trade turnover increased by 19.3%.
A particularly impressive growth was observed in the industrial sector, where the volume of production increased by 21%.
It is noteworthy that in 2023, the industrial sector demonstrated weak dynamics, with growth averaging only 1-2%. The exception was the last two months of 2023 when the sector began to grow, especially due to the development of the jewelry industry.
Additionally, January saw impressive growth in foreign trade turnover. Exports increased by 2.1 times, while imports surged by 61.4%.
