Economic activity in Armenia shrank by 17.2% YoY in April, data from the National Statistical Service revealed.
Economic activity has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. Though the state of emergency has been extended, most restrictions have been removed.
In the reporting period, construction and trade declined by 51% and by 33%, respectively, while the industrial sector contracted by 8.6%.
Foreign trade turnover decreased by 15.3%, exports and imports were down by 30% and 27.4%, respectively. (PanARMENIAN/Business World Magazine)