In January-June 2026, the economic activity indicator of the Republic of Armenia increased by 7.9% compared to the same period last year. This is reported by "Business 24" based on preliminary data published by the Statistical Committee of Armenia. In June, the economic activity indicator grew by 4.4% compared to May.
In June, the economic activity indicator reached 107.7% compared to June 2025.
Industry
From January to June, the volume of industrial production amounted to 1,522.5 billion drams, which is an increase of 10.8% compared to the same period in 2025. In June, compared to May, there was a 3.1% decrease, while compared to June 2025, there was a 4% increase.
The industrial sector continues to maintain high growth rates, remaining one of the main drivers of economic activity. Despite a slight slowdown in growth rates in June compared to May, the sector continues to ensure stable expansion of production and exports.
Construction
From January to June, the volume of construction reached 282.2 billion drams, which is an increase of 24.5% compared to the same period last year. In June, compared to May, there was a growth of 19.5%, and compared to June 2025, a growth of 25.4%.
Construction continues to be one of the fastest-growing sectors of the economy. Activity in the sector continues to be driven by residential construction, public and private investment projects, as well as infrastructure projects. High indicators indicate that investment activity in the construction sector remains at a high level.
Trade and Services
From January to June, the volume of trade amounted to 3,155.9 billion drams, which is an increase of 0.9% compared to the same period last year. In June, compared to May, there was a growth of 6.3%, while compared to June 2025, there was a 0.1% decrease, indicating that the volume of trade has changed little compared to the same month last year.
Growth rates in the trade sector continue to remain weak. Despite the monthly growth recorded in June, the nearly zero annual change may indicate a more restrained dynamic of internal consumption, as well as the impact of a high base.
The volume of services (excluding trade) from January to June amounted to 2,148.6 billion drams, which is an increase of 11.0% compared to the same period in 2025. In June, compared to May, there was a growth of 5.7%, and compared to June last year, a growth of 19.7%.
The services sector continues to provide double-digit growth, mainly due to the activation of information technologies, financial services, tourism, hospitality, and professional services.
Price Dynamics
From January to June, the consumer price index was 104.6% compared to the same period last year. At the same time, the industrial production price index was 108.9%.
The inflation environment remains moderate. At the same time, the higher growth of producer prices may exert some pressure on consumer prices in the coming months.
Conclusion
Overall, in the first half of 2026, a trend of stable growth has been maintained in the Armenian economy. Although the economic activity indicator slightly decreased from 8.0% in January-May to 7.9% in January-June, positive dynamics continue in the main sectors of the economy.
The main drivers of economic growth remain construction and industry, which ensure a high level of investment and production activity. The services sector has also maintained high growth, while activity in trade continues to remain relatively weak, indicating a more restrained expansion of internal demand. The overall macroeconomic picture remains positive amid the sustained high level of economic activity.
