In January-May 2022, the Statistical Committee of the Republic reported that economic activity in Armenia increased by 10.2%. According to the source, the growth of economic activity is accompanied by high growth rates of exports and imports.
The main drivers of growth were the service sector (growth of 24.9%), the energy complex - (13.1%), and the construction sector - (11.4%). To a lesser extent, the trade sector facilitated the growth of 8.9% and the industrial sector by 2.7%. The industrial production price index in January-May 2022 increased by 9.6% compared to last year's period.
In absolute terms, the trade sector holds the lead with a volume of 3.4 billion euros. The second position is held by the industrial sector – 2.3 billion euros, the third - by the service sector – 2.2 billion euros.
The foreign trade turnover of Armenia in January-May 2022 amounted to 4.6 billion euros with an annual growth of 36.6%. At the same time, exports increased by 27.5% - up to 1.6 billion euros, and imports - by 42.2% - up to 2.9 billion euros.
