In line with the 2012 results, the economy of Armenia grew by 7.2 percent, the Eurasian Development Bank (EDB) CIS Macro Monitor informs.

According to this report, the country’s industry, agriculture, trade, and services grew by 8.8 percent, 9.5 percent, 3.6 percent, and 10.8 percent, respectively.

“If the industrial and export growth maintains its high level in the first quarter of 2013, it will be possible to speak about a constructive improvement of economy in the country,” the EDB analysts note. 

The report also states that consumer demand was the growth engine in all CIS economies. At the same time, the rate of economic growth accelerated in Armenia, Tajikistan, and Azerbaijan.