Official numbers: Armenia’s GDP in 2015 grew by 3 percent
According to preliminary official numbers released today by Armenia’s National Statistical Service (NSS), the country’s economy expanded last year by 3 percent, down from the projected figure of 4.1%.
In terms of money, the GDP amounted to 5.047.4 trillion drams or about $10.56 billion. The average exchange rate of one USD in 2015 was 477.92 drams.
The last year was the third year in a row when Armenia appeared unable to achieve the planned growth target. Particularly, in 2013 the GDP grew only by 3.3% instead of the projected 6.2% and in 2014 it grew by 3. 5% instead of the projected 5.2%.
According to NSS, in the 4th quarter of 2015 the GDP amounted to 1.547 trillion drams, an increase of 1.9% compared to the same period in 2014. In the first quarter it grew by 2.5% year-on-year to 873.1 billion drams; in the second quarter it grew by 4.5% to over 1.1 trillion drams and in the third quarter it grew by 3.2% to 1.517 trillion drams.
The 2015 economic growth was driven largely by agriculture, forestry and fishery sectors, which expanded by 11.4% and industry, particularly, energy sector, which grew by 6.3%. The per capita GDP last year was 1,679,920 drams or $3,515, down from $3,610 in 2014. The 12-month inflation last year was 3.7%. -0-