Armenia’s economic activity index rose by 5.7% in the first five months of 2025 compared to the same period last year, according to data released by the Statistical Committee of the Republic of Armenia.
The growth was primarily driven by gains in the services and construction sectors, which helped offset a notable decline in industrial output.
- Construction surged by 17.1%, totaling 165.4 billion drams (AMD 165,463.3 million).
- Services expanded by 10.1%, reaching 1.4 trillion drams (AMD 1,487,699.7 million).
- Trade turnover increased by 4.2%, amounting to 2.4 trillion drams (AMD 2,404,114.9 million).
- Electricity production showed a modest increase of 0.6%, totaling 3.71 billion kWh.
In contrast, industrial output saw a significant decline of 14.1%, totaling just over 1.03 trillion drams (AMD 1,030,846.9 million) for the period.
May 2025 Figures
In May alone, the economic activity index increased by 5.4% from April and 10.4% year-on-year, indicating steady monthly momentum across key sectors:
- Industrial output in May grew 2.9% from April to AMD 218.6 billion but fell 5.9% year-on-year.
- Construction in May jumped 24.8% from April and 22.2% compared to May 2024, reaching AMD 48.9 billion.
- Services rose 1.8% from April to AMD 314.3 billion, up 10.8% year-on-year.
- Trade turnover in May declined 0.9% from April to AMD 528.9 billion and was flat year-on-year.
- Electricity output in May decreased 11.4% from April and was 8.6% lower year-on-year. These figures exclude electricity produced by autonomous generators and flow exchanges for consistency.
Price Indices
The consumer price index (CPI) grew by 3% year-on-year during January–May. The industrial product price index rose by 2.1% in the same period. In May, the industrial producer price index increased by 0.6% from April and 2.2% year-on-year. Consumer prices in May rose by 0.3% from April and were 4.3% higher compared to May 2024.
Despite the downturn in industry, Armenia’s overall economic momentum remains positive, bolstered by strong performance in domestic services, trade, and construction—key pillars of Armenia’s post-pandemic economic recovery.
The Statistical Committee did not include updated data on gross agricultural output or average nominal monthly wages in this report.
