Armenia's Economy Declines Amid War and Pandemic

Armenia’s economic activity index presented by the country’s Statistical Committee shows declines in many sectors compared to the same months in the previous year.

– Armenia’s overall economic activity in October 2020 has seen an 8.1% decline compared to October 2019. Economic activity in September 2020 declined by 3% compared to the same month of the previous year.

– Sales and services sector has decreased by 21% this year.

– Industrial production declined by 3%.

– Foreign trade decreased by 19%, with imports decreasing by 26%.

– The only sector that has not seen a decline is the construction sector with a 0.3% increase.

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