Bloomberg News

Armenian Economy Expands 3.9% on Trade, Investment Agency Says

October 19, 2011

Oct. 19 (Bloomberg) -- Armenia’s economy grew 3.9 percent from a year earlier in the second quarter as foreign trade increased and the agriculture and energy industries expanded.

Growth in the former Soviet republic accelerated from the first quarter’s 2.7 percent rate, Armenia’s Investment Agency said today in a statement, citing data from the National Statistical Service.

By 2020, Armenia plans to double the share of exports in gross domestic product from 11 percent, according to the statement.

--Editors: Andrew Langley, Alan Crosby

To contact the reporter on this story: Helena Bedwell in Tbilisi at hbedwell@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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