Current economic trends

 

Data source: National Statistical Service of the Republic of Armenia and Central Bank of Armenia

Calculations and data processing: Economic Development and Research Center (EDRC)

Data were updated on September 22, 2017.

1Output growth data are presented for economic sectors. 
2Including fishing.
3Data for Januray-July 2015 and 2016 don't include PIU accounts.
4Includes alcoholic beverages and tobacco.
5Money transfers of individuals by banking system of RA.

 

Main indicators of current economic trends, in % to the same period of previous year

 

2014

2015

2016

2015

2016

2017

2015

2016

2017

Yearly

January-June1

January-July1

 Indicator of economic activity

4.1

3.0

0.5

4.1

5.3

6.1

4.1

3.6

6.2

 GDP real growth

3.6

3.2

0.2

4.0

3.5

5.9

-

-

-

   Agriculturial growth2

6.1

13.2

-5.8

15.3

3.2

-1.3

15.4

1.3

-2.0

      in which Plant growing output

6.9

15.4

-11.7

38.7

2.2

-6.5

28.6

-1.6

-6.7

   Industrial growth

-0.9

6.2

4.8

5.1

8.9

12.4

4.1

7.9

12.7

      in which Manufacturing

6.0

-4.0

4.4

-2.1

5.1

17.5

-3.1

3.5

17.5

      Mining

-6.4

57.9

14.9

34.8

18.8

8.9

34.4

19.0

9.1

      Energency

-15.2

6.6

1.8

3.5

11.4

0.5

2.8

12.3

1.4

     Water supply

11.9

41.0

6.8

9.6

8.2

9.0

10.2

7.1

9.0

   Construction growth

-4.5

-3.1

-10.8

0.6

-7.8

-10.0

0.4

-7.6

-8.7

   Trade growth

3.4

-8.3

1.2

-5.1

-0.3

12.6

-4.7

-0.4

12.2

   Service growth (excluding trade)

7.8

4.0

4.8

3.3

8.3

10.9

2.4

7.6

11.8

 External trade turnover growth (in USD)

1.8

-20.9

7.4

-20.6

2.7

24.0

-19.9

2.3

26.0

   Export

4.6

-4.0

20.0

-1.3

16.7

21.0

0.1

16.5

21.6

   Import

0.9

-26.8

1.6

-27.2

-3.7

25.8

-26.7

-4.4

28.5

   Net export (balance of goods), % in GDP

-24.8

-16.8

-14.3

-19.2

-15.3

-18.4

-

-

-

 Fiscal indicators3 

   State budjet revenues growth

6.9

2.0

0.3

0.3

1.6

6.3

0.8

-0.3

6.0

      in which taxes and duties

6.3

0.4

1.1

0.3

2.2

7.4

0.0

1.6

6.5

   State budget expenditures growth

8.1

14.1

2.8

15.7

6.2

-1.9

15.2

2.7

-1.6

   State budjet deficit, % in GDP

-1.9

-4.8

-5.5

-2.9

-4.2

-1.8

-

-

-

   Public debt, % in GDP

43.7

48.7

56.6

-

-

-

-

-

-

 Consumer price index (end of period)

4.6

-0.1

-1.1

0.0

-1.0

1.2

-2.2

-3.3

-1.4

   in which Food products4

6.3

-3.7

-0.2

-2.4

-1.2

3.9

-6.4

-5.0

-1.6

   Non food products

1.6

3.4

-3.4

4.1

-2.1

-1.6

3.3

-3.0

-2.3

   Services

3.0

3.2

-0.7

1.1

0.0

-0.8

1.0

-1.3

-0.7

 Consumer price index (period average)

3.0

3.7

-1.4

5.1

-1.5

0.5

5.0

-1.5

0.5

 Exchange rate devaluation (end of period) 

   to USD

17.1

1.8

0.0

-0.5

-1.5

-0.7

0.7

-1.6

-1.2

   to EUR

3.2

-8.4

-3.1

-8.5

0.3

7.0

-9.1

0.1

9.6

   to RUR

-34.5

-18.8

19.0

4.4

12.4

2.8

-2.8

7.4

1.3

 Financial market interests rates

   Refinancing rate (repo interest rate) of CBA

8.5

8.8

6.3

10.5

7.5

-

10.5

7.5

-

   Government bonds (medium term)

12.5

15.5

10.1

14.7

13.5

9.0

14.4

12.1

8.5

   Deposit rate (>1 year, physical entities, in drams)

13.3

14.8

12.5

14.8

13.4

11.5

15.0

13.3

11.1

   Mortgage loans (physical entities, in drams)   

11.9

12.3

12.9

11.9

12.8

11.6

12.1

12.4

11.8

   Lending rate, in drams (>1 year, legal entities)

14.7

13.8

12.9

14.1

13.0

12.8

14.9

14.8

11.4

   Lending rate, in dollars (>1 year, legal entities)

10.9

9.9

9.2

11.1

9.9

8.9

10.3

10.1

8.8

 Monetary indicators

   Broad money growth

8.3

10.8

17.5

6.2

13.9

18.7

6.8

13.8

18.5

      Governence crediting growth (by banks)

-405.2

11.2

190.5

-220.7

351.6

102.7

-270.7

378.4

87.6

      Economy crediting growth (by banks)

21.0

-3.5

6.0

14.1

1.5

6.2

13.5

1.8

6.6

      Deposit growth (within banks)

14.2

13.9

18.5

10.4

17.0

18.4

10.9

16.9

18.3

        in which FX deposit growth

22.7

16.3

11.2

17.6

15.9

12.0

18.8

15.3

11.5

      Currency growth (outside banks)

-9.4

-0.8

13.1

-8.6

0.5

20.5

-7.8

0.6

20.0

   Reserve Money (without PIU accounts), bln drams

886.8

921.3

1042.3

4921.8

4964.0

5567.6

5805.1

5800.9

6523.9

 Money transfers  growth5 

   USD

-7.8

-23.2

-6.1

-28.4

-8.8

16.4

-27.4

-10.9

17.2

   AMD

-6.6

-11.5

-5.7

-17.2

-7.6

16.6

-15.8

-10.0

17.5

 Energy production growth

0.5

0.6

-6.2

1.5

-4.9

5.2

1.9

-5.5

7.8