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6.1% Economic Decline Recorded In Armenia In January-March 2009

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  • 6.1% Economic Decline Recorded In Armenia In January-March 2009

    6.1% ECONOMIC DECLINE RECORDED IN ARMENIA IN JANUARY-MARCH 2009

    ARKA
    Apr 30, 2009

    YEREVAN, April 30. /ARKA/. A 6.1% reduction was recorded in the
    Armenian economy in January-March 2009 as compared with the same
    period of last year.

    The Gross Domestic Product (GDP) totaled 465,508.4mln Drams in current
    prices in the reporting period with GDP index-deflator at 101.9%
    in January-March this year against January-March 2008.

    According to the statistics, 4.2% compression of gross added value in
    the reporting period (as compared with 5.4% growth in January-March
    2008) deterred the GDP growth by 3.5pct.

    In the reporting period 15.8% reduction in tax proceeds without
    subsidies (against 32.7% increase in January-March 2008) deterred GDP
    growth by 2.6pct (against 4.6pct of increase in January-March 2008).

    In the period, 20.5% decline in construction deterred the GDP by 1.9pct
    (against 1.7pct of GDP growth in January-March 2008). 9.7% decline in
    industry (including energy sector) has had minus 2.2pct negative effect
    on economic growth (against 0.1pct growth in January-March 2008).

    5% reduction in agriculture, forestry, hunting and fishing had minus
    0.4pct effect on GDP over the period under review against 0pct effect
    in January-March 2008.

    1.1% compression recorded in the financial sector and real estate
    transactions deterred the GDP by 0.1pct (against 2.4pct positive
    effect in January-March 2008).

    The share of added value was 85.2% in the GDP structure in
    January-March this year against 83.3% in January-March 2008. The
    share of industrial production (including energy) was 17.7% against
    21.6% in January- March last year. The share of agriculture was 7.9%,
    that of construction - 9.8%.

    Trade, cars, transport and communication provided 25.7%, the services
    sector on the whole - 53.5%.

    Taxes, the subsidies exclusive, constituted 14.8% of the GDP.

    GDP per capita was 143,729Drams or $441 (339 Euros) for January-March
    2009.

    9.2% economic growth was recorded in Armenia in January-March 2008.

    Under the state budget, 9.2% growth of GDP was expected in Armenia
    in 2009. ($1=372.22Drams).

    From: Emil Lazarian | Ararat NewsPress
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