Economic activity in Armenia increased

Armenia's economic activity in 2022 was up 14.2% as opposed to the previous year, according to the numbers, released by the National Statistical Committee (NSC).

It said the economic activity surged by 21.5% in December 2022 compared to November, and by 12.8% compared to December 2021.

According to the official data, all sectors of the economy saw growth in 2022. The industrial output amounted to approximately about 2.76 trillion drams, having increased by 7.8% from 2021.

In December 2022, compared to November, the sector increased by 13.5%, and by 2.7% compared to December 2021.

The construction sector rose by 12.5% to 541.1 billion drams. In December 2022 compared to November it saw a growth of 69.8% and a 7.3% rise compared to December 2021.

The services sector (without trade) amounted to about 2.6 trillion drams, which is 28.2% higher than in January-December 2021. The figure rose by 8.7% in December 2022 compared to November 2022, and by 27.9% compared to December 2021.

According to the statistical data, the domestic trade turnover in 2022 amounted to about 4.3 trillion drams, having increased by 17% compared to the same period of 2021. The figure rose by 22.4% in December 2022 compared to November 2022, and by 23.9% compared to December 2021.