Economic activity in Armenia shrank by 4.9% YoY in March, data from the National Statistical Service revealed.
Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak.
In the reporting period, construction and trade declined by 26.2% and by 9.9%, respectively, while the industrial sector contracted by 14%.
Foreign trade turnover decreased by 16% and exports were down by 17.2%. (PanARMENIAN/Business World Magazine)