The Armenian Economy Advanced 7.1% Growth

The Armenian economy advanced 7.1 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.1 percent growth in the previous quarter.

Output advanced further in the wholesale & retail trade sector (11.8 percent vs 5.8 percent in Q4); financial & insurance activities (26.5 percent vs 19.5 percent) and information & communication (8.2 percent vs 7.9 percent) while production rebounded for construction (9.2 percent vs -3.6 percent) and agriculture, hunting, forestry & fishing (0.8 percent vs -13.7 percent).

On the other hand, output slowed for manufacturing (5.1 percent vs 9.3 percent); real estate activities (0.2 percent vs 6.7 percent) and education (1.0 percent vs 2.0 percent) while fell for electricity, gas, steam and air conditioning supply (-3.6 percent vs 14.8 percent) and transport ( -0.1 percent vs 7.4 percent). GDP Annual Growth Rate in Armenia averaged 7.23 percent from 1998 until 2019, reaching an all time high of 19.10 percent in the second quarter of 2006 and a record low of -19.70 percent in the third quarter of 2009.