The average salary in Armenia has increased
Exports from Armenia grew 2.1 times in the period from January to September 2024, as stated by Finance Minister Vahe Hovhannisyan during the preliminary discussion of the 2025 state budget.
Despite the increase in exports, the growth in the supply of goods directly produced in Armenia was only 1.4%.
The statistics include gold, which is partially processed in Armenia, although most of its value is generated outside the country’s borders.
Imports grew by 56.5% during this period, but without re-exports, they declined by 5.2%.
The minister noted that without accounting for the re-export of gold, Armenia’s economic activity for January to August would have been 6.4% instead of the recorded 9%.
During this period, the average salary in the republic increased by 6.6%, with the public sector seeing a 10.1% rise and the private sector a 5.4% rise. In absolute terms, the average salary reached 282,600 drams.
The unemployment rate decreased by 4.9% in the second quarter of 2024, reaching 13.8%.