FX.co ★ Armenia Economic Activity Continues Solid Growth in July

In July 2025, Armenia experienced a 9.1% increase in economic activity compared to the same month in the previous year, marking a slight acceleration from a revised 9.0% uptick seen in June. This growth was primarily fueled by a recovery in industrial output, which rose by 4.2% following a previous decline of 1.2%. Additionally, there were significant advancements in construction, with a 26.1% increase from 22.6%, and improvements in the services sector, which grew by 11.1% up from 8.8%, alongside enhanced trade activity, which also rose by 3.8% compared to 2.8%. Cumulatively, economic activity expanded by 7.0% over the January to July period when compared with the same timeframe last year.