Armenia’s economic activity rises 6.9% in nine months of 2026

Armenia’s economic activity index rose 6.9% in January–September 2026 from the same period in 2025, preliminary figures published by the Statistical Committee show. Construction and services grew, but agricultural output fell. The index measures economic activity; the 6.9% figure is not a gross domestic product (GDP) growth rate.

September’s annual growth slowed to 5%, down from 5.2% in August. How2B identified this as the fourth consecutive month in which year-on-year growth slowed.

September’s annual and monthly figures diverged

The economic activity index was 5% higher than in September 2025 and 9.1% higher than in August 2026. Those figures compare September with different months; the increase from August does not reverse the slowdown in annual growth.

Industrial output was 4.5% lower than in September 2025, following a 4.3% year-on-year fall in August. It was nevertheless 4.2% higher than in August. Industry’s nine-month gain therefore did not extend to either of the last two year-on-year monthly comparisons.

The preliminary trade figures show another contrast over the nine months: compared with January–September 2025, exports fell 8% to $5.1631 billion, while imports rose 9.5% to $9.7903 billion.

Growth varied across sectors

The Statistical Committee’s sector figures compare output or turnover in January–September 2026 with the same period in 2025.