Armenia's economy declined 16.3 percent in January-June 2009

The GDP totaled $3.216 billion, the national statistics agency said.

Consumer prices increased 2.7 percent in January-June 2009 compared to the same period of 2008. However, this indicator increased 5.2 percent compared to December 2008.

Prices on industrial products reduced 3.1 percent compared to the same period of 2008.

Industrial goods worth $808.8 million were produced during this period, a drop of 1.5 percent from previous year.

Armenia’s foreign trade turnover totaled $165.9 billion, a drop of 31.5 percent from 2008.

Armenia’s GDP growth is estimated at 2.9 percent in 2009.

/Novosti Armenia/