ArmInfo. In Armenia, economic activity in January-October 2025 increased by 8.1% year-on-year (the same as last year - 8.1% in the same period of 2024). However, this was accompanied by a deterioration in foreign trade dynamics, from significant growth to a significant decline.
According to the latest data from the Statistical Committee of the Republic of Armenia, the industrial sector, which was one of the growth drivers a year earlier, is now in decline. According to statistics, this economic activity in January-October 2025 was largely due to accelerated annual growth in the services sector - from 5.8% to 10.8% - and a more significant increase in the construction sector - from 15.5% to 20.6%. Growth in the energy sector also accelerated significantly - from 4.6% to 7.9%. At the same time, the annual dynamics of the industrial sector worsened, from 11.7% growth to a 3% decline, and growth in the trade sector slowed significantly, from 18.8% to 3.2%. The statistical report for this period does not include data on the agricultural sector.
According to statistical data for January-October 2025, the trade sector retains the lead in absolute terms, with a volume of 5.3 trillion drams ($13.7 billion). The services sector ranks second in terms of volume with 3.3 trillion drams ($8.6 billion), followed by the industrial sector with 2.4 trillion drams ($6.2 billion), and the construction sector with 551.4 billion drams ($1.4 billion), due to the lack of data on the agricultural sector. Power generation in January-October 2025 amounted to 8,156.9 million kWh, with 801.3 million kWh generated in October alone. In October 2025, compared to October 2024, economic activity accelerated in growth to 10.1% (from 4.2% a year earlier), and in October alone, the dynamics worsened from 9.8% growth to a 4% decline (as a year ago in October 2024 - from 6.6% growth to a 4.6% decline). Iin October 2025, industrial sector growth accelerated significantly from 5.1% to 20.8%, this trend was also observed at a moderate pace a year earlier - from 1.6% to 10.9%. A slowdown in growth in the construction sector was observed in October - from 6.7% to 1.3%. Improved growth dynamics in October were observed in the services sector, from a 1.8% decline to a similar 1.8% growth; in the trade sector, from a 1.3% decline to a 2.2% growth; and in the energy sector, from a 10.8% decline to a 5.2% growth.
On a year-over-year basis (October 2025 vs. October 2024), growth was demonstrated by all sectors, except for the energy sector, which experienced a 5.5% decline. Specifically, the highest growth rates were demonstrated by construction (20.1%), the industrial sector (17.9%), and services (12.8%), followed by the trade sector (1%). In October 2024 compared to October 2023, all sectors also showed growth, but the highest growth rates were observed in the energy sector (20.4%), trade (13.7%), and construction (13.5%), followed by the industrial sector (5.3%) and services (5.2%).
Armenia's foreign trade turnover in January-October 2025 amounted to 6.4 trillion drams ($16.5 billion), a decline of 37.1% year-on-year (compared to 67.6% growth a year ago). This was driven by a significant decline in both exports and imports - by 44.7% and 31.2%, respectively, compared to last year's significant growth of 95.1% (exports) and 50.8% (imports). As a result, the absolute value of exports for January- October 2025 amounted to 2.5 trillion drams ($6.4 billion), and imports - 3.9 trillion drams ($10.1 billion).
In October 2025, compared to October 2024, foreign trade turnover fell by 16% due to a decrease in both exports (by 21.8%) and imports (by 11.9%). A year earlier, in October 2024, compared to October 2023, foreign trade turnover grew by 12.9% due to an increase in exports by 23.1% and imports by 6.6%.
It should be noted that, starting in 2023, the methodology for calculating the volume of generated power in statistical reports has changed; the volume of power generated by autonomous generators has now been included. For the agricultural sector, data is published only in quarterly and annual statistical reports. (The average dram exchange rate in January-October 2025 was AMD 388.06/1$.)
