Friday, July 1 2016 19:23
Alina Hovhannisyan

In Jan-May 2016 industrial output in Armenia grew by 8.8% amid 3.9% drop in May alone

In Jan-May 2016 industrial output in Armenia grew by 8.8% amid 3.9% drop in May alone

ArmInfo. In Jan-May 2016, the industrial output in Armenia grew by 8.8% y-o-y to 533.5 bln AMD ($1.1 bln) versus 4.5% growth in the previous year, the National Statistical Service of Armenia reports. In May 2016 alone the industrial output declined by 3.9%, while in y-o-y terms (compared to May 2015) it grew by 9.1%. The upward trend of the industrial sector of Armenia is as previously retained mainly due to significant growth in the mining sector.

In Jan-May 2016, 19.6% y-o-y growth to 98.7 bln AMD ($203.4 mln) was registered in mining industry and surface mining, which is lower than the indicator of the same period in 2015 (32.3%). In May alone 3.1% decline to 21.5 bln AMD was registered in the field. In Jan-May 2016 processing industry grew by 3.8% year-over-year to 311 bln AMD ($ 641 mln) versus 1.3% decline in the same period of 2015. In May alone 1.7% decline to 71.2 bln AMD was registered in the processing industry.  At the same time in Jan-May 2016 within the processing industry significant reduction of production of non- metal ore (31.8% drop), machinery and equipment (25.6%), final metal production (21.6% drop), production of base metals (18% drop) was registered.  At the same time high growth was registered in production of furniture (50.2%), clothes (34.8%), drinks (25.6%), cigarettes (24.4%), and jewelry (2.9-fold). In Jan-May 2016 output of food products increased by 2.7% y-o-y, and textile declined by 10.4% y-o-y. Food products (104.2 bln AMD), base metals (54.5 bln AMD), cigarettes (49 bln AMD), and drinks (40 bln AMD) are the leaders in terms of output amount in the processing industry. 

The supplies of electric power, gas, steam, and conditioned air increased by 13.7% to 115 bln AMD in Jan-May 2016 versus 1.2% decline a year before. In May alone 12.4% decline to 18 bln AMD was ensured. At the same time transmission and distribution of electric power grew by 19.8% y-o-y in Jan-May 2016 (12.8% monthly drop), while distribution of gas fuel via gas supply systems dropped by 6,9% (down by 33% in May alone).

The revenues from water supply, waste disposal and recycling grew by 9.3% y-o-y to 8.8 bln AMD in Jan-May 2016 versus 1.1% decline in the previous year. In May alone 0.2% growth to 1.7 bln AMD was registered. Growth in this field was mainly achieved due to water supply-5.3% y-o-y, 1,8% of which in May alone.

To recall, industrial output in Armenia accelerated growth from 2.7% to 5.2% in 2015 and totaled 1.3 trillion AMD ($ 2.8 bln). As before the upward trend of the industrial output was ensured due to significant growth in mining industry (87.8% in 2015 versus 2.5% in 2014) amid drop of processing industry from 10% growth in 2014 to 7.6% decline in 2015.

The average AMD/USD exchange rate was 478.37 AMD/$1 in May 2016 and 485.13 AMD/$1 in Jan-May 2016, versus 480.25 AMD/$1 in May 2015 and 477.22 AMD/$1 in Jan-May 2015.

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