Armenia Economic Activity Growth Eases in January

Armenia’s economic activity rose by 7.6% year-on-year in January 2026, moderating sharply from a 14.4% rise in the previous month, marking the lowest level in nine months. Industrial output eased (10.6% vs 38.6% in December 2025), while construction activity (18.7% vs 20.5%) and trade turnover (0.7% vs 3.2%) also decreased. Meanwhile, services recorded growth (7.4% vs 6.9%). On a monthly basis, overall economic activity plunged 48.3%, reversing a 23.4% rise in December. For comparison, economic activity in Armenia stood at 7.3% last year.

Armenia’s economic activity expanded by 14% year-on-year in December 2025, accelerating from an 11.5% rise in November. Industrial output surged (38.6% vs 31.7% in November), while construction activity (20.5% vs 17.2%) and trade turnover (3.2% vs 1.5%) also strengthened. Meanwhile, services growth slowed (6.9% vs 11.2%). On a monthly basis, overall economic activity recorded a strong increase of 23.4%, following a modest 0.3% rise in November. For the full year 2025, Armenia’s economy grew 9.1%, reflecting broad-based expansion across industry, construction, and trade.

Armenia’s economic activity expanded by 10.4% year-on-year in November 2025, a bit faster than a 10.1% increase in the previous month. Industrial output picked up sharply (31.7% vs 17.9% in October), while retail turnover also strengthened (1.5% vs 1.0%). On the other hand, construction activity moderated (17.2% vs 20.1%), and services growth eased marginally (11.2% vs 12.8%). On a monthly basis, overall economic activity edged down 0.1%, following a steeper 4.0% decline in October. Over the January–November period, economic activity rose 8.3% compared with the same period a year earlier.