Economic Growth Indicators in Armenia Continue to Rise in the First Half of the Year

In the first half of the current year, the economic activity indicator in Armenia exceeded the results for the same period in 2023 by 10.4 percent. This was reported by the Statistical Committee of the Republic of Armenia.

In June of this year, economic activity in Armenia was 7.1 percent higher than the same month last year. Compared to May 2024, economic activity increased by 11.3 percent in June.

In the first six months of the year, the volume of industrial production in Armenia grew by 18.2 percent compared to the same period in 2023, amounting to 1 trillion 408 billion 107.2 million drams. In June, it reached 225 billion 124.5 million drams, which is 1.4 percent higher than the same month last year, but 2.4 percent lower than May of this year.

The gross agricultural output in Armenia during January-June 2024 exceeded the previous year's figure by 4 percent, totaling 285 billion 824.9 million drams.

The volume of construction in the first half of 2024 surpassed that of the previous year by 15.7 percent, reaching 202 billion 15.5 million drams. In June, the volume of construction was estimated at 51 billion 339.7 million drams, which is 18 percent more than in June last year and 19.9 percent higher than May this year.

Trade turnover from January to June 2024 was 22.9 percent higher than the same period last year, totaling 2 trillion 754 billion 219.3 million drams. In June, trade turnover was 515 billion 33.8 million drams, which is 4.3 percent higher than May of this year and 16.2 percent higher compared to June last year.

The volume of services (excluding trade) in the first half of this year exceeded the same period in 2023 by 4.4 percent, amounting to 1 trillion 562 billion 50.8 million drams. In June, it was 282 billion 861.9 million drams, which is a 5.6 percent increase over May's figures and 7.8 percent compared to June last year.

Consumer prices from January to June were 0.6 percent lower than in the same period of 2023. Compared to May of this year, there was a 0.9 percent decrease in June. However, compared to June 2023, the consumer price index increased by 0.8 percent.