Armenia's service sector grew by 5.2% in eight months to AMD 2.1 trillion

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YEREVAN, October 8. /ARKA/. Armenia's service sector in January-August 2024 amounted to over AMD 2.1 trillion (in current prices), increasing by 5.2% compared to the same period in 2023, the National Statistical Committee reports./pp

In August 2024 alone, the sector grew by AMD 304.8 billion, which is 9.5% more than in August last year and 8.5% more than in July 2024./pp

The financial and insurance services accounted for 30.7% of the total or AMD 658.8 billion, with a growth of 21.1% compared to the same period in 2023./pp

The information and communication services amounted to 375.1 billion drams with a decline of 9.5%, the transport services decreased by almost 15% to 249 billion drams, the accommodation and catering services grew by 7.4% to 226.8 billion drams, and cultural, entertainment and recreation services grew by 8% to 196.2 billion drams./pp

Professional, scientific and technical services increased by 15% to 106.6 billion drams, and the healthcare and social security services showed an increase of 8.4% to 103.3 billion drams./pp

The real estate services increased by 12.9% to 88 billion drams, administrative and support activities increased by 7.2% to 73.3 billion drams, and education services increased by 7.3% to 49.9 billion drams. ($1 - 387.42 drams) -0-/p