Economic Growth Recorded in Armenia in 2018

In 2018, Armenia's economic growth reached 5.8%, reports the National Statistical Committee of the Republic of Armenia.

Consumer prices increased by 2.5%.

The foreign trade turnover amounted to $7.375 billion (an increase of 16.4%).

Exports grew by 7.8%, totaling $2.4119 billion, while imports surged by 21.1%, reaching $4.9632 billion.

The volume of industrial production rose by 4.3%, amounting to 1 trillion 737 billion 685.6 million drams.

The volume of gross agricultural output decreased by 7.7%, totaling 889 billion 708.6 million drams.

The construction sector reported a 4.5% increase, reaching 422 billion 302 million drams, while trade grew by 8.7% to 2 trillion 931 billion 494.8 million drams, and the services sector experienced an 18.8% increase, totaling 1 trillion 764 billion 751.2 million drams.

The volume of electricity production increased by 0.2% last year, amounting to 7 billion 776.9 million kWh.

In 2018, the GDP growth in the state budget was 4.5%. The Central Bank had forecasted economic growth of 4.7-5.8%.