Armenia records 7.7 pct growth in economic activity in 2017

YEREVAN, Jan. 25 (Xinhua) -- The main macro-economic indicators characterizing the country's socio-economic situation point to a 7.7 percent growth in economic activity for 2017, showed a report published by the National Statistical Service of Armenia (NSSA) on Thursday.

Based on the figures of the 12 months in 2017, Armenia saw growth in all spheres of its economy with the exception of the gross agricultural output.

Significant progress was identified in power generation with 6.1 percent more output compared with the index from 2016, whereas the services sector registered a 14.4 percent growth.

While the consumer price index grew by 1 percent in the 12 months of 2017, and producer's price index for industrial products grew by 3.9 percent. Exports from Armenia grew by 25.2 percent to 2.2 billion U.S. dollars, while imports increased by 27.8 percent to 4.18 billion dollars.

The NSSA also announced that average nominal wages grew by 2.9 percent; trade turnover in the country also marked a 14 percent growth, while the external trade turnover registered a remarkable 26.9 percent growth and amounted to about 6.4 billion dollars. Enditem