Construction Dropped in Armenia
Source: http://www.armstat.am
#statistics #armenia #construction
As reported by the National Statistical Service of Armenia, the total volume of construction output in 2011 compared with the previous year has dropped by 11.5 percent and amounted 480 billion AMD ($1.25 billion).
The primary reason for the drop is the reduction of construction works financed by international organizations, companies and private sector. At the same time volume of construction output financed by the State, the Local Governments (Communities), and the Armenian Apostolic Church has increased.
The companies' construction spending account for nearly 45 percent of all construction output, but there was 13.5 percent drop compared to 2010. The second largest investor in the construction industry is the State Government with 15.2 percent increase. But the largest growth is recorded in Local Governments construction spending multiplied 5.9 times compared to 2010.
All international donors have considerably reduced their construction financing in 2011, except German Development Bank (KfW) with sector investment increase 2.2 times.
The Armenian Apostolic Church construction investment has increased by 13.8 percent, but the private sector construction activities have considerably dropped by nearly 30.5 percent.
The primary reason for the drop is the reduction of construction works financed by international organizations, companies and private sector. At the same time volume of construction output financed by the State, the Local Governments (Communities), and the Armenian Apostolic Church has increased.
The companies' construction spending account for nearly 45 percent of all construction output, but there was 13.5 percent drop compared to 2010. The second largest investor in the construction industry is the State Government with 15.2 percent increase. But the largest growth is recorded in Local Governments construction spending multiplied 5.9 times compared to 2010.
All international donors have considerably reduced their construction financing in 2011, except German Development Bank (KfW) with sector investment increase 2.2 times.
The Armenian Apostolic Church construction investment has increased by 13.8 percent, but the private sector construction activities have considerably dropped by nearly 30.5 percent.
