The Armenian industrial sector in January-May 2017 accelerated growth to 14.4% from last year`s 8.8%

ArmInfo. The volume of industrial production in Armenia in January-May of 2017 increased by 14.4% against the same period of the previous year (against growth of 8.8% a year earlier) to 625.1 billion drams ($ 1.3 billion). According to the National Statistical Service of Armenia, In May 2017 the volume of industrial production increased by 12.7%, (against a decline of 3.9% in May 2016), while in the year on year (in comparison with May 2016) the sphere showed growth of 20%.  Moreover, the upward trend in the industrial sector of Armenia is supported by the growth of mining and processing industries.

In January-May 2017 In addition, in the mining and quarrying sector, the growth was 12.5% to 130.5 billion drams ($ 269 million), which is more restrained than the upward trend of the previous year (19.6%).  In May this year, the industry showed growth of 4.6%, with a volume of 27.7 billion drams. The volume of manufacturing industry increased in January-May by 20% per annum (against growth of 3.8% a year earlier), amounting to 372.1 billion drams ($ 767 million). In May, the volume of manufacturing industry increased by 18%, amounting to 91.7 billion drams. Moreover, the diminishing dynamics in the manufacturing industry in January-May 2017 was recorded only in the production of machinery and equipment (by 15.7%). The biggest growth was in the production of electrical equipment (2.1 times), jewelry (49.6%), printing and replicating of recorded media (by 45.1%), furniture production (by 33%), computers, Electronic and optical equipment (by 29.2%). In the manufacturing sector, food products (117.4 billion drams), base metals (68.8 billion drams), cigarettes (57.3 billion drams), and beverages (50.1 billion drams) are leading in terms of production volumes.

Supplies of electricity, gas, steam and air conditioning in general increased in January-May 2017 to the same period in 2016 by 1.6% (against growth of 13.7% a year earlier) to 112.7 billion drams, and only in May An increase of 0.1% was registered - up to 18.1 billion drams. Including generation, transmission and distribution of electricity in January-May decreased by 3.9% per annum (the monthly growth of 2.7%), while gas production, distribution of gaseous fuels through gas supply systems increased by 23.5% ( Only in May, declining by 16.1%).

Revenues from water supply, purification and processing of waste and receipt of secondary raw materials increased by 5.1% per annum (against 9.3% growth a year earlier) to 9.6 billion drams, while growth in May was 23.7 %- to 2.1 billion drams. Moreover, growth in this segment was mainly conditioned by the collection, processing and distribution of water - by 0.7% per annum, of which only in May - by 31.3%.  Recall that the volume of industrial production in Armenia in 2016 increased by 6.7% (against growth of 5.2% in 2015), amounting to 1.429 trillion. Drams ($ 2.9 billion). The slight acceleration of the growth rates was due to a sharp slowdown in the upward trend of the mining sector, from 50.4% in 2015 to 8.3% in 2016 - to 256.4 billion drams, while improving the dynamics of the manufacturing industry - with an exit from the 5.6% decline By 7.7% growth - up to 885 billion drams.

The average calculated exchange rate of the dram to the US dollar was 485.18 dr / $ 1 in January-May 2017, and only in May - 483.42 dr / $ 1, against 485.13 dr / $ 1 in January-May 2016, In t.ch. 478.37 dr / $ 1 - only in May.