Double-digit growth registered in Armenian industrial sector in H1 

ArmInfo. Double-digit growth has been registered in Armenian industrial sector in the first six months of 2016, Armenian Minister of Economy Artsvik Minasyan informed at a press conference on July 15.  According to him National Statistical Service of Armenia will present the results of its studies in the nearest days, however the ministry of economy is already ready to share quite optimistic results of its own monitoring of the growth in country's industrial sector.

During the first half of the year the growth of industrial output in Armenia will total nearly 10%. 20% growth has been registered in mining sector and surface mining. Growth of processing industry totaled 14%, growth of energy field-12%.

The Minister said that according to the data of the Ministry 13% growth has been registered in food production and 19% growth in its sales, production of drinks grew by 26% and sales of drinks grew by 23%. 78% growth was registered in clothes production and 67% growth of its sale.

The Economy Minister has also noted that the most significant growth was registered in the field of diamond processing. "260% growth has been registered in this field and 280% growth in sales of final products", he said. In monetary terms this growth totaled 13 bln AMD.

In H1, 40% growth was registered in Teghut CJSC in the field of metallic ore output. 16% growth was registered in Zangezur copper molybdenum combine. 

Double-digit growth was registered in production of drinks. Yerevan Brandy Company ensured 44% growth of output and 43% growth in sales of the products. Yerevan Brandy-Wine-Vodka Combine ensured growth of output and sales-226% and 416% respectively.  Shahnazaryan Wine and Brandy House ensured 57% growth, Yerevan factory of sparkling wines-28% and 20%. Ijevan Wine Factory registered 101% growth of production and sales.

As for the tobacco field Grand Tobacco company ensured 51% growth of production and 49% growth in sales, SPS Cigaronne increased production by 143% and sales by 134%. In textile field Gloria Company from Vanadzor ensured the highest growth of production and sales-105%.

Eskofarm Company ensured the highest indicator of growth in the field of pharmaceuticals-82%, and 68% in sales. "Anahit-1" leads in production of computers and electronics-290% of production growth and 37% growth in sales.

"Harval Machinery" leads in the field of machinery and equipment production ensuring 176% growth in production and increasing sales by 402%.  According to the minister growth registered in diamond processing field was ensured due to operation of Diamotech company (390% growth), "H and White Diamonds"-77% growth, Agates-490% and Lori-37%.

The Minister informed that growth was registered in the field of power and gas. The Vorotan Cascade, or the ContourGlobal Hydro Cascade registered 91% growth in amount of production, while the growth of ENA CJSC totaled 58%.

Artsvik Minasyan informed that Armenian Ministry of Economy currently supervises 30 fields, and assistance amounted to 2 bln AMD has been allocated to these fields from the state budget of 2016, which are being provided by various credit and donor organizations. "These achievements are the result of the active and initiative work of the enterprises, as well as state policy of industrial sector assistance", the Economy Minister stated.