Economic Activity Indicator in Armenia Grows by 12.5% in Five Months

The economic activity indicator in Armenia increased by 12.5% during the January-May 2023 period compared to the same timeframe last year. This is evidenced by data published by the Statistical Committee of Armenia.

The volume of industrial production in the January-May period of this year has risen by 3% compared to the same period last year.

The volume of construction increased by 16.7% over the first five months of 2023 compared to the same time last year.

In the trade sector, turnover from January to May reflected an increase of 24.5% against January-May 2022.

During the same period, the volume of services provided grew by 19.9%.

The consumer price index for the first five months of 2023 increased by 5.2% compared to the last year's corresponding period, while the industrial production price index decreased by 1.6%.

Additionally, the volume of electricity production saw a decrease of 3.1% compared to the same time last year.

The volume of foreign trade turnover in the January-May period of this year grew by 86.9% compared to the same timeframe last year. Specifically, exports increased by 93.3%, while imports rose by 83.3% compared to the first five months of the previous year.

The exchange rate of the Armenian dram against the U.S. dollar stood at 390.41 drams during the January-May period.