Armenia economic activity shrank 7.2% in January-November

December 25, 2020 – 17:10 AMT

PanARMENIAN.Net – Economic activity in Armenia shrank by 7.2% in the first eleven 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, as well as the war in Nagorno-.

In November alone, the economic activity contracted by 10.3% against the same period last year.

In January-November 2020, construction and trade declined by 11.2% and 13.5%, respectively, while the services sector shrank by 13.6%.

The National Statistical Committee also revealed that the country’s GDP in the third quarter of 2020 registered a preliminary decline of 9.1% year-on-year.

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