Armenian economy keeps on growing

Armenian economy showed 8,8% growth over this year’s January-May in comparison with last year’s figures; while there is a 14,3% growth only in April-May, according to report by the National Statistics. 

Gross domestic product (GDP) has reached 1 trillion 16 billion 842 million drams.

Industrial output reached 305 billion 61 million drams, showing 12,1% growth in comparison with last year despite the fact that there was a 6,3% decline in May in comparison with April.

It is also reported a 14,6% growth in producing electricity (3 657,6 kWh); the agricultural GDP equals 96 billion 237 million drams (this is a 0,9 growth); building sector reached 108 billion 842 million drams (this is a 12,5% growth in comparison with last year’s May and is equal to last year April’s double figures); retail trade showed 1,3% growth marking 367 billion 44 million drams; and other services (excluding trade) showed 292 billion 456 million drams (this is a 6,8% growth).

Armenia’s foreign trade equals to $1 billion 776 million; export rose by 28,5% reaching $1 billion 411 million.

In comparison with May of 2009 this year’s number of unemployed people rose by 1,2% reaching 84,900 people in May.

The average monthly wages in the national economy in January-May of 2010 amounted to 103,549 drams, showing growth by 6,5%, while May’s figure in comparison with April shows 0,5% decline.

In January-May of 2010 the $1 was equal to 386,35 drams.