In Jan-Oct 2016 industrial sector of Armenia experienced 6.5% year-over-year growth

ArmInfo.In Jan-Oct 2016,  the industrial produce in Armenia grew 6.5% versus Jan-Oct 2015  (against 4.6% growth a year before) to 1.152 trln drams ($2.4bln).  Mining sector remained the key driver in the industry dynamics.  According to the National Statistical Service of Armenia, in Oct 2016  alone, the industrial output decreased 2.5% (versus 2.3% rise in Oct  2015) to 124.2bln drams (261.4 mln USD).

In Jan-Oct 2016 versus the same period of 2015, mining industry and  open pit mining increased 12% (versus 42.7% growth a year before) to  210bln drams. In Oct alone, the mining industry output totaled  21.6bln drams with a 4% growth y-o-y. Manufacturing industry  increased 5.8% y-o-y (vs 4.2% decline a year before) to 711.5bln  drams, of which 79.6bln drams - in October. 

In Jan-Oct 2016, chemical industry output fell by 7.1%, production of  machines and equipment - by 5.5%, printed products - by 3.9%. In the  meantime, jewelry output rose 2.1-fold, production of electric  appliances - by 34.5%, production of furniture - by 22.3%, and  clothes - by 20%. In the manufacturing industry segment, food output  made up 236.3 AMD, base metals - 123 bln AMD, cigarettes - 105.5 bln  AMD, and beverages - 87.3 bln AMD.

The supply of electric power, gas, steam and conditioned air  increased by 4.3% in Jan- Oct 2016 versus Jan-Oct 2015 (vs 3.7% rise  a year before) to 212.3bln drams. In Oct alone, this indicator grew  by 6.9% to 21.1bln drams. 

In Jan-Oct 2016, the revenues from water supply, waste disposal and  recycling grew 6.9% (vs 10% growth a year before) to 18.4 bln AMD  (down 4.1% in Oct alone to 1.9 bln AMD). 

The average AMD/USD exchange rate was 475.25 AMD/$1 in October 2016  and 480.45 AMD/$1 in Jan-Oct 2016 versus 472.55 AMD/$1 in Oct 2015  and 477.19 AMD/$1 in Jan- Oct 2015.