Armenia economic activity shrank 4․7% in January-July

September 7, 2020 – 18:04 AMT

PanARMENIAN.Net – Economic activity in shrank by 5․7% in the first seven months 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 July alone, the economic activity contracted by 10.2% against the same period last year.

In January-July 2020, construction and trade declined by 22.6% and 11%, respectively, while the services sector shrank by 9.3%.

Foreign trade turnover decreased by 11.3% year-on-year, exports and imports were down by 6․4% and 13․7%, respectively.

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