ArmInfo. In the first quarter of 2021 the service sector in Armenia accelerated its annual growth from 5.7% to 8.1%, amounting to 403.9 billion drams (about $ 938 million). According to the data of the Statistical Committee of the Republic of Armenia, for March 2021 the volume of services provided increased by 9.5% - up to 145.1 billion drams (over $ 301 million).
The dynamics is due to the fact that in the first quarter of 2021, services in a number of areas remained growing, but with a slight slowdown in rates: in the field of health care and social security - from 12% to 9.1%; real estate - from 3.6% to 0.2%; financial and insurance sector - from 12.9% to 1.5%. And services in the field of professional and scientific activities turned the trend from 0.8% decline in Q1 2020 to 15.7% growth in Q1 2021.
At the same time, the trend of services in the field of catering - from 9% growth to 3% decline, as well as culture, entertainment and recreation - from 8.5% growth to 36.1% decline. Services in the following fields lingered in recession: education - from 12.6% in the first quarter of 2020 to 3.5% in I quarter of 2021; transport - from 6.2% to 23.3%, administrative and auxiliary activities - from 7.3% to 7.9%.
According to statistics, in terms of the volume of services provided, the leader is financial sector - 115.3 billion drams (28.6% of the total), with the lion's share of banks. The second place in terms of the volume of services is taken by the field of information and communication - 74.3 billion drams (18.4%), and the main load falls on the telecommunications segment. The third place is taken by the field of culture, entertainment and recreation - 61.9 billion drams (15.3%). The fourth place is taken by the transport sector - 35.2 billion drams (8.7%). The five leaders are closed by the field of catering and organization of accommodation for tourists, with the volume of services at 29.1 billion drams (7.2%).
