FX.co ★ Armenia Economic Activity Growth Eases in January

Armenia’s economic activity grew by 7.6% year-on-year in January 2026, a sharp slowdown from the 14.4% increase recorded in the previous month and the weakest pace in nine months. Industrial output decelerated significantly (10.6% vs. 38.6% in December 2025), while growth in construction (18.7% vs. 20.5%) and trade turnover (0.7% vs. 3.2%) also eased. By contrast, the services sector saw a slight improvement in momentum (7.4% vs. 6.9%). On a monthly basis, overall economic activity plunged by 48.3%, reversing the 23.4% increase seen in December. For reference, Armenia’s economic activity grew by 7.3% over the previous year.