According to the latest report from the Statistical Committee, Armenia's economic activity index increased by 5.7% from January to May 2025 compared to the same period last year. In May alone, it grew by 5.4% from April and 10.4% year-on-year.

Despite this overall growth, industrial output fell by 14.1% compared to the first five months of 2024, totaling AMD 1 trillion 30 billion 846.9 million. While May saw a 2.9% monthly increase to AMD 218 billion 591.1 million, it still represented a 5.9% decline year-on-year, Armenpress reports.

In construction, output rose by 17.1% to AMD 165 billion 463.3 million for January-May. Compared to April, May’s construction activity jumped 24.8%, and 22.2% compared to May 2024, reaching AMD 48 billion 878.9 million.

Trade turnover in the first five months amounted to AMD 2 trillion 404 billion 114.9 million, a 4.2% year-on-year increase. However, May saw a 0.9% drop from April, while matching last May’s figure at AMD 528 billion 862.9 million.

The services sector recorded a 10.1% increase in January-May, with a total volume of AMD 1 trillion 487 billion 699.7 million. In May, services rose 1.8% from April to AMD 314 billion 279 million—10.8% higher year-on-year.

The consumer price index rose by 3% year-on-year in the first five months, with May prices up 0.3% from April and 4.3% from May 2024.

The industrial producer price index rose 2.1% compared to the same period in 2024. In May, it increased by 0.6% from April and 2.2% year-on-year.

Electricity production reached 3 billion 709.4 million kWh in January-May, up 0.6% year-on-year. However, May output dropped 11.4% from April to 579.8 million kWh, and was 8.6% lower year-on-year. These figures exclude power produced by autonomous generators as part of flow exchanges. Growth rates exclude such output from past monthly figures as well for comparison consistency.

The report did not provide updated figures on gross agricultural output or average nominal monthly wages.