  GDP in Armenia decreased 0,7% in January 2009February 20, 2009 - 20:26 AMT PanARMENIAN.Net - As compared to the results of previous year, GDP in Armenia decreased 0,7% in January 2009 totaling about AMD132 billion. Negative influence of world financial crisis has been reflected in such spheres of Armenian economy as industry and financial sector, the Chairman of Armenian National Statistical Service Stepan Mnatsakanyan told a press conference. According to statistics, a decrease of 6,5% was registered in industry in January 2009, as compared to the results of January 2008 and a decrease of 23,5% as compared to the results of December 2008. In the absolute expression the industrial output volume totaled AMD 41.7 billion by the end of January. Mnatsakanyan noted that predictably, the crisis had a negative effect on the financial sector, which is the most vulnerable under the circumstances. A significant drop in balance rate on the population's banks accounts is registered in 2009. "In 2008 we registered a growth, though in recent months the decrease became perceptive despite the increase in credit investments," added Mnatsakanyan. Energy production also registered an annual decrease of 21,2% and a decrease of 0,8% in January 2009, amounting to 523 mln. kilowatt-hour. Foreign trade turnover fell 24,5% in January 2009 as compared to the January 2008 and 47,9% as compared to the December 2008, totaling AMD 77 billion. January 2009 results show 44,1% decrease in export rate and an annual decrease of 43,9% 2009. Import rate registered 48,4% decrease in January and an annual decrease of 20,2%. At the same time a certain annual increase is registered in a number of spheres. As compared to the results of January 2008, January 2009 growth results are as follows: construction sphere -13,4%, retail industry -5,9%, agriculture -0,4%. Yet the monthly analysis of the spheres indicated shows a certain drop. As compared to December 2008, January 2009 results show a drop of: 87,1% in construction sector, 64,1% in retail industry and 67,9% in agriculture.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news Get Started: An educational platform for young startuppers  The Get Started program which operates in two phases is an important platform for young startuppers.Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan.Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months.Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |
