In the first quarter of 2025, Armenia's gross domestic product (GDP) at current prices amounted to AMD 2.118 trillion (US$5.556 billion), an increase of 5.2% when compared to the same quarter of 2024.

Data from the Statistical Committee indicate that trade, services, and construction are growing at relatively high rates. Growth was also recorded in the agricultural sector. Manufacturing continues to decline.

The highest growth was recorded in the construction sector - 14%.

The volume of trade and services increased by 9.3%, and agricultural production - by 8.1%.

A 12.4% decline was recorded in the manufacturing sector in the first quarter. This decline is explained by a sharp decrease in the production of basic metals.

In the context of the re-export of gold and jewelry from Armenia, in mid-2023-2024, some of the jewelry imported from Russia to Armenia, and subsequently re-exported mainly to the UAE, was reflected in manufacturing numbers as products undergoing some processing in Armenia.

When re-exports were sharply reduced, Armenia's industrial sector suffered a decline.

Beverage production, mining, etc. have also declined.

Armenia’s Statistical Committee also presents quarterly figures as to how much each sector contributed to the registered economic growth.

Trade and services contributed 6.42 percentage points to the 5.2% GDP growth in the first quarter of 2025.

In other words, economic growth would have been higher due to trade and services alone if there were no growth-declining sectors. In this case, it is industry that restricted economic growth by 2.2 percentage points in the first quarter.

The contribution of construction to economic growth was 0.52 percentage points, and that of agriculture was 0.28 percentage points.

GDP calculations also include taxes on products.