Armenia economic activity shrank 4․7% in first half-year of 2020

July 28, 2020 – 14:02 AMT

PanARMENIAN.Net – Economic activity in shrank by 4․7% in the first half of 2020 year-on-year, data from the National Statistical Service reveals.

Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the outbreak. Though the state of emergency has been extended several times, most restrictions have been removed.

In June alone, the economic activity contracted by 7․5% against the same period last year.

In the six months of 2020, construction and trade declined by 23․4% and 11․1%, respectively, while the industrial sector grew by 1․5%.

Foreign trade turnover decreased by 10․7% year-on-year, exports and imports were down by 6․5% and 12․9%, respectively.

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