ArmInfo. In Armenia, the price index of industrial products decreased in January-November 2023 compared to the same period in 2022 to 101.7% from last year's 102.9%. This was observed against the backdrop of a slowdown in annual growth in the industrial sector from 8.4% to 2.1% - to 2.4 trillion drams ($6.2 billion).
According to statistics, in November 2023, compared to November 2022, the price index of industrial products, on the contrary, increased to 102.1%, while a year earlier in November 2022, compared to November 2021, this figure was in decline and amounted to 97.9%. During this period under review, the industrial sector showed a high growth in volumes of 23.8%, while a year earlier a decline of 2.3% was recorded. According to statistics, in November 2023 compared to November 2022, the price index of industrial products, on the contrary, increased to 102.1% , while a year earlier in November 2022 compared to November 2021, this figure was in decline and amounted to 97.9%. During this period under review, the industrial sector showed a high growth in volumes of 23.8%, while a year earlier a decline of 2.3% was recorded.
This is accompanied by a slowdown in the growth of economic activity in Armenia in January-November 2023 from 14.4% to 9.4% per annum, and in November of this year. by November 2022 - from 13.8% to 11.2%. In parallel, there is a slowdown in the annual growth of foreign trade turnover in January-November 2023 to 42.4% from last year's 67.8%, as a result of a slowdown in the growth of exports and imports from 75.2-63.6% to 44.7-41%. Moreover, in November 2023, compared to November 2022, the volume of foreign trade stalled in growth much more noticeably - from last year's 74.5% to the current 48.2% due to a sharp slowdown in the upward dynamics of imports from 63.9% to 25%, with a less noticeable a slowdown in export growth from 95.8% to 85.7%. (The average settlement exchange rate for the dram in January- November 2023 was 391.39 AMD/$1).
