VIDEO: Artsakh on the Brink of Economic Crisis - What is the Situation in the Second Armenian Republic?

Since December 12, 2022, the closure of the only road linking Artsakh to the outside world has had a negative impact on economic indicators. The latest figures on economic activity were calculated by the National Statistical Service. Chairman of the Artsakh National Statistical Service, Manush Minasian, noted that the trends of decline are evident, with an approximate 30 percent decrease in the economy.

“We had almost no production in mining. In the processing industry, compared to the same period last year, the indicator was around 65 percent. In the supply of electric energy, gas, steam, and high-quality air, it was about 79 percent. In the water supply, sewage, waste removal, and recycling sectors, it was approximately 84 percent,” he stated.

It is noted that in agriculture, traditionally one sub-sector operates during this period, which is animal husbandry. The picture is bleaker in the construction sector. The volume of construction carried out last month was about 4 percent compared to the same period in 2022, with more than 85 percent of completed construction being funded by humanitarian aid.

The share of public administration, defense, social sectors, and financial services is significant in the Gross Domestic Product (GDP). No considerable declining trends have been recorded in these sectors.