Armenia economic activity shrank 10.2% in July

Armenia economic activity shrank 10.2% in July

PanARMENIAN.Net - Economic activity in Armenia shrank by 10.2% in July year-on-year, data from the National Statistical Service reveals.

Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. Though the state of emergency has been extended several times, most restrictions have been removed.

In July 2020, construction and trade declined by 19.5% and 10.4%, respectively, while the industrial sector contracted by 2.3%.

Foreign trade turnover decreased by 14.3% year-on-year, exports and imports were down by 5.9% and 18.6%, respectively.

Average salary, meanwhile, grew by 2.5% in the reporting period.

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