ArmInfo. In Armenia, economic activity growth accelerated to 6.9% annually in January-April 2026 (up from 4.4% in the same period of 2025). Moreover, the industrial sector moved from a double-digit decline to double-digit growth. According to preliminary data from the RA Statistics Committee, this is accompanied by weak growth in foreign trade.
According to statistics, the acceleration in economic activity growth in January-April 2026 was primarily driven by an improvement in the annual dynamics of the industrial sector from a 16.1% decline to 13.3% growth and an acceleration in construction growth from 15% to 22.9%. The energy sector experienced some growth, accelerating from 2.6% to 6.6%. Conversely, growth slowed in the services sector (down from 9.9% to 7.6%) and the trade sector (down from 5.2% to 1.5%).
Statistical data for January–April 2026 shows that the trade sector retains the lead in absolute terms, with a volume of AMD 2.01 trillion ($5.3 billion). The services sector ranks second at AMD 1.3 trillion ($3.6 billion), followed by the industrial sector at over AMD 1 trillion ($2.7 billion). Due to the absence of agricultural data in this specific statistical report, the construction sector holds the fourth position at AMD 144.6 billion ($383.4 million). Electricity generation for January–April 2026 totaled 3,337.1 million kWh, of which 672.2 million kWh was produced in April alone.
Economic activity also accelerated in April 2026 compared to April 2025, growing by 7.1% (from 5.4% a year earlier). In April alone, growth slowed from 11.9% to 6% (compared to a similar slowdown in April 2025, from 11.9% to 4.3%). Moreover, in April 2026, the industrial sector lingered in decline, with growth rates slowing from 2% to 0.2%, a similar rate to the same month a year earlier, but with a reversal from 15.9% growth to a 3.9% decline. In April, in addition to the industrial sector, the energy sector's growth also worsened, from 7.1% growth to a 20.1% decline. Furthermore, growth in the services sector slowed in April, 2026, from 13.6% to 3.4%, in the construction sector from 34.4% to 18.6%, and in trade from 14.1% to 1.9%.
On a year-on-year basis (April 2026 compared to April 2025), all sectors demonstrated an upward trend. Specifically, the construction sector recorded the highest annual growth at 24.7%, followed by the industrial sector at 11.7%, the services sector at 9.1%, and the energy complex at 2.7%. The lowest growth was registered in the trade sector, which saw a stagnant 0.1%. A year earlier, comparing April 2025 to April 2023, all sectors showed growth except for the industrial sector and the energy complex, which were in a slump of 8.7% and 2% respectively; during that period, construction grew by 17.9%, services by 5.6%, and the trade sector by 3.2%.
Against this backdrop, Armenia's foreign trade turnover in January–April 2026 amounted to AMD 2.4 trillion ($6.3 billion), shifting to a weak 0.3% annual growth (up from a 52.9% slump a year ago). This was driven by imports rebounding from a 46.5% decline to a 2.5% growth, alongside a sharp deceleration in the export decline from 60.4% to 3.3%. As a result, the absolute value of exports for January–April 2026 stood at AMD 878.2 billion ($2.3 billion), while imports totaled AMD 1.5 trillion ($3.99 billion).
In April 2026, compared to April 2025, foreign trade turnover decreased by 13.8% due to a 25.9% contraction in exports and a 5.8% drop in imports. By comparison, a year earlier (April 2025 vs. April 2024), foreign trade turnover had experienced a much more significant contraction of 50.1%, driven by a substantial slump in both exports and imports, ranging between 57.3% and 43.8%.
It should be noted that, starting in 2023, the methodology for calculating the volume of generated power in statistical reports has changed; in particular, the volume of electricity generated by autonomous generators has also been included. For the agricultural sector, data is published only in quarterly and annual statistical reports. (The average exchange rate for the dram in January-April 2026 was AMD 377.28/$1.)
