Armenia’s economic activity for Jan - Nov up 9.4% year-on-year

PanARMENIAN.Net - Armenia's economic activity in the first 11 months of 2023 was up 9.4% against January-November 2022, the National Statistical Committee said Monday, December 25 (via Arka.am).

It said the growth in November 2023 alone was 11.2% as opposed to November last year and up 0.6% as opposed to October this year.

All sectors of the economy reported growth except for electricity generating facilities. The industrial output amounted to over 2.4 trillion drams, increasing by 2.1% compared to January-November 2022.

The construction sector grew by 15.6% to about 493 billion drams. According to the statistical data, the domestic trade turnover in January-November this year grew by 24.3% yoy to about 4.8 trillion drams. The services sector (excluding trade) was up 11.1% yoy to over 2.7 trillion drams

The National Statistics Committee did not provide numbers regarding the agricultural production and average gross monthly wages.

Armenian government’s economic growth forecast for 2023 is 7%. According to the Central Bank's revised forecast, the growth will be 8.3%.