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Armenian GDP enjoys growth

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  • Armenian GDP enjoys growth

    RosBusinessConsulting, Russia -
    Jan 31, 2005

    Armenian GDP enjoys growth



    RBC, 31.01.2005, Erevan 17:32:05.The Armenian economy expanded
    10.1 percent to USD3.5bn in 2004, the National Statistics Service of
    the republic reported. Its GDP grew 17.8 percent in December. The
    annual increase in GDP is due to a 17.2-percent growth of the
    construction sector, a 16.8-percent jump in personal income, a
    14.5-percent expansion in the agricultural sector. Industrial
    production was 2.1 percent higher. Electrical energy production
    advanced 9.5 percent. Armenia boosted its foreign trade by 5.1
    percent to USD2.1bn. Retail trade advanced 10.5 percent. Personal
    expenditures were 16.5 percent higher.

    The December GDP jump is due to personal income being swollen
    by 91.4 percent from November. Personal spending showed a
    78.8-percent monthly growth.
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