Armenia’s economic activity increased by 14.4% y/y in January-November 2022 OEDB

16.01.2023 21:28
Armenia’s economic activity increased by 14.4% y/y in January-November 2022 OEDB

YEREVAN, January 16. /ARKA/. Armenia’s economic activity increased by 14.4% y/y in January-November 2022, the Eurasian Development Bank (EDB) said in its weekly macro review.

The country’s economic activity grew by 13.8% y/y in November after a 17.5% surge in October. The drop was from the slowdown in the service sector and a decline in industrial output (+30.9% y/y and -2.3% y/y in November). In November, strong dynamics of foreign trade was preserved with exports increasing by 95% yoy.

Also, EDB stated that inflation in Armenia continued to slow down and made 8.3% y/y in December (8.8% a month earlier).

"Such dynamics was contributed by the slowdown in price increases for food and non-food products. A disinflationary effect on prices was also due to the strengthening of the Armenian dram. Prices of services grew in December on the background of high consumer demand," the bank noted. --0--


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Tags: Новости Армении АМИ Новости-Армения

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