ArmInfo. The volume of industrial production in Armenia in the first half of 2018 by the same period of 2017 increased by 3.7% (against growth of 12.4% a year earlier), amounting to 805 billion drams ($ 1.6 billion). According to the National Statistical Service of Armenia, the slowing of the uptrend caused a decline in the mining sector and a modest growth in the manufacturing sector. At the same time in June this year. The volume of industry increased by 5.8% (against a decline of 3.4% in June 2017) to 146.7 billion drams ($ 304.1 million).
In the first half of 2018.to the same period in 2017 in the mining industry and the development of open pits registered a decline of 9.8% (compared to 8.9% growth a year earlier) with a volume of 158 billion drams. Only in June the mining sector showed an increase of 1.8% to 26.2 billion drams (against a decline of 10.3% in June 2017). The volume of manufacturing industry increased by 8.6% per annum in the first half of the year (against growth of 17.5% a year earlier) to 508 billion drams, of which 98 billion drams fell in June, with an annual growth of 5.6% against the 1.3% decline a year earlier).
Moreover, in the manufacturing industry, the decline in volumes in the first half of 2018 was recorded exclusively in the production of basic metals (by 3.4%). A high growth rate is recorded in the production of machinery and equipment (86.5%), clothing (81.9%), printing and replicating of recorded media (53.3%), computers and equipment (45.6% ), textiles and non-metallic ores (by 41.4%). In the processing industry, food products (144.3 billion drams), basic metals (86.2 billion), cigarettes (75.8 billion), beverages (65.6 billion) and jewelry (27.1 billion) are leading in terms of production volume.
To recall, the volume of industrial production in Armenia in 2017 as compared with 2016 grew by 12.6% (against growth of 6.7% a year earlier), amounting to 1.660 trillion AMD ($ 3.4 billion). The improvement in the dynamics was reflected in the acceleration of the growth rate of the mining sector to 13.9% (from 8.3% a year earlier) and the manufacturing industry to 15.7% (from 7.7% a year earlier). The average calculated exchange rate for dram totaled 482.62 AMD / $ in June 2018, and 482.04 AMD / $ 1 in the first half of the year, against 481.52 AMD / $ 1 in June 2017 and 484.57 AMD / $ 1 in the first half of 2017.