Economic activity in Armenia increased by 13.2% in the first four months of 2024, driven by the industry, trade, and services sectors. This was reported by analysts from the Eurasian Development Bank (EDB) in their weekly macroeconomic review.
According to the study, a significant part of the economic growth was provided by the industry, contributing approximately 5.1 percentage points due to the expansion of production and export of gold jewelry.
Additionally, EDB analysts noted a significant increase in both exports and imports. Exports of goods grew 2.7 times compared to the same period last year, while imports increased by 2.1%. This growth is attributed to the increased external trade and processing of gold items.
Earlier, BMG reported that in January-April of this year, industrial production in Armenia increased by 26.8%, services by 3.9%, trade turnover by 26.7%, and construction by 13.7%.
In April, compared to April of the previous year, industrial production increased by 16.3%, trade turnover by 27.2%, construction by 17.8%, while the services sector saw a growth of only 0.8%.
