Armenia economic activity shrank 4․7% in January-July

Armenia economic activity shrank 4․7% in January-July

PanARMENIAN.Net - Economic activity in Armenia shrank by 5․7% in the first seven months of 2020 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 alone, the economic activity contracted by 10.2% against the same period last year.

In January-July 2020, construction and trade declined by 22.6% and 11%, respectively, while the services sector shrank by 9.3%.

Foreign trade turnover decreased by 11.3% year-on-year, exports and imports were down by 6․4% and 13․7%, respectively.

 Top stories
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
The ruble was trading at a low of 74.9 to $1 on March 9 morning, after another wild start to the week for financial markets.
Pashinyan said that raising the efficiency of the fight against corruption will be one of the most important challenges.
The Council adopted revised conclusions on the EU list of non-cooperative jurisdictions for tax purposes.
Partner news