Economic recession totals 16%
Armenia's economic recession in January-November of 2009 totaled 16% with GDP reaching 2 786 682 AMD, the National Statistical Service of Armenia reports.
Remind that last month a fall of 17.5% was reported in the country.
Unemployment has gone up by 11.6 % with 82.900 unemployed registered in Armenia.
At first glance, this indicator, compared with previous months, seems positive, but a closer look suggests that these indicators have already dropped from the rise in the economy in the last months of the previous year. In particular, looking at annual cut-backs, the largest decline, as in previous months, has been registered in the construction industry, at 38.4%; while a decline of 9.9% was evident in the industrial sector compared with last year's 11.4%.
A decline of 28.5% has been registered in annual cuts in foreign trade with imports having registered a decline of 26.3% and exports - 37.4%.
