Country Report Armenia November 1998 Main report

Economic structure.

Economic structure Latest available figures Economic indicators 1993 1994 1995 1996 1997 GDP at market prices (Dram bn) 4.3 187.1 522.3 660.3 798.6 GDP ($ bn) 0.5 0.6 1.3 1.6 1.6 Real GDP growth (%) -14.8 5.4 6.9 5.8 3.1 Consumer price inflation (av; %) 1,920.0 4,964.8 175.5 18.7 13.8 Population (m) 3.7 3.8 3.8 3.8 3.8(a) Merchandise exports fob ($ m) 156 216 271 290 232 Merchandise imports fob ($ m) 234 344 625 758 778 Current-account balance ($ m) -67 -106 -279 -291 -346 Reserves excl gold ($ m) 13.6 32.3 99.6 155.7 228.8 Exchange rate(b) (av; Dram:$) - 288.65 405.91 414.04 490.85 November 10th 1998 Dram514.95:$1 Origins of gross domestic product 1997 % of total Agriculture & forestry 40.4 Industry 30.4 Trade 8.3 Construction 6.3 Transport & communications 4.4 Total incl others 100.0 Components of gross domestic product 1997 % of total Private consumption 102.0 Public consumption 11.8 Gross fixed investment 19.6 Change in stocks 1.5 Net exports of goods & services -34.9 GDP 100.0 Principal exports 1997 % of total Non-precious metals 25 Jewellery 24 Machinery & equipment 14 Principal imports 1997 % of total Raw materials 24 Vegetable products 12 Machinery & equipment 11 Main destinations of exports % of Main origins of imports % of 1997 total 1997 total Russia 27.1 Russia 22.0 Belgium 20.2 US 13.0 Iran 18.3 Iran 9.9 (a) EIU estimate. (b) The dram was introduced in November 1993.

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