The economic activity indicator for January-June of this year decreased by 4.7 percent compared to the same period in 2019. This is confirmed by data published by the National Statistical Committee of the Republic of Armenia.
The volume of industrial output increased by 1.5 percent, and the gross agricultural output by 1.7 percent. The volume of construction in January-June of this year decreased by 23.4 percent compared to the same period last year. The decline in trade turnover was 11.1 percent, and the volume of services rendered decreased by 6.4 percent.
In the first six months of 2020, the consumer price index increased by 0.5 percent, and industrial output prices by 0.7 percent. Electricity production volume increased by 4.4 percent. The average monthly nominal wage in Armenia increased by 5.4 percent in January-June, reaching 186,410 drams. Incidentally, in the public sector the average monthly wage increased by 8.3 percent, while in the private sector by 3.8 percent.
In foreign trade turnover, compared to the same period last year, there was a decrease of about 10.7 percent, of which exports decreased by 6.5 percent and imports by 12.9 percent.
The exchange rate of the dram against the US dollar was 483.50.
The decline in economic activity is due to the coronavirus pandemic, as a result of which the economies of almost all countries in the world are suffering great losses.
