Armenia’s economic activity increased by 13.2% in January–April 2024 – EDB

Economic activity in Armenia increased by 13.2% in January–April 2024, the Eurasian Development Bank (EDB) said in its weekly review.

The growth was driven by industry (+26.8%), trade (+26.7%), and services (+3.9%). 

Industry continues to ensure a significant part of economic activity (about 5.1 p.p. of growth in January–April) due to the expansion of production and exports of gold jewelry. Exports of goods grew 2.7 times in January–March, while imports rose to 2.1%, mainly due to the boost in foreign trade and gold processing, the EDB said.