EDB highlights key sectors driving economic growth in Armenia

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YEREVAN, October 28. /ARKA/. In its weekly macroeconomic review, the EDB (Eurasian Development Bank) identified key sectors driving Armenia’s economic growth, with economic activity in country rising by 8.7% from January to September 2024./pp

According to the report, growth was led by trade (+19.5% y/y), services (+5.9% y/y), and industry (+12.6% y/y). In September, the services sector saw a notable acceleration in activity (+11.6% y/y, up from 9.5% in August), as did industry (+4.6% y/y, up from 2.1% in August)./pp

The report also highlights that growth in foreign trade and precious metals processing continued to bolster export (up 2.1 times) and import indicators (+54.2% y/y) at robust levels./pp

Figures and forecasts for the Armenian economy/pp

Armenia's economic growth in the state budget for 2024 is envisaged at 7%. The Central Bank of Armenia expects the country's economic growth in 2024 to be in the range of 6.5-5.8%. -0-/p