Monday, October 3 2016 17:31
Alina Hovhannisyan

Mining sector remains key driver of industrial output growth in Armenia

Mining sector remains key driver of industrial output growth in  Armenia

ArmInfo. In Jan-Aug 2016, the  industrial produce in Armenia grew 7% versus Jan-Aug 2015 (against  4.4% growth a year before) to 898.7 bln drams ($1.8bln). The mining  sector remains the key driver of the industrial output growth.  Improvement of the manufacturing industry dynamics was also fixed in  the period under review. According to the National Statistical  Service of Armenia, in August 2016 alone, the industrial output  increased 1.3% (versus 9.7% growth in August 2015) to 121.3 bln  drams.

In Jan-Aug 2016 versus the same period of 2015, mining industry and  open pit mining increased 16.4% (versus 35.1% growth a year before)  to 165.5 bln drams. In August alone, the mining industry output  totaled 21.2bln drams with a 5.1% y-o-y decline. Manufacturing  industry increased 4.1% over year (vs 2.9% decline a year before) to  547bln drams, of which 78bln drams - in August. 

In manufacturing industry, the output of non-metallic ore dropped by  24.9% in Jan-Aug 2016, finished metallic items - by 11.6%, recorded  media items - by 10.2%. At the same time, production of jewelry grew  by 84.4% as compared to Jan-Aug 2015, clothing - by 32.7%, furniture  - by 41.3%. Food output totaled 187.4 bln AMD, base metals - 96.5 bln  AMD, cigarettes - 78.7 bln AMD, beverages - 65.6 bln AMD. 

The supply of electric power, gas, steam and conditioned air  increased by 8.5% in Jan-Aug 2016 versus Jan-Aug 2015 (vs 2.8% rise a  year before) to 171.7 bln drams. In August alone, this indicator fell  by 14.2% to 20bln drams. The generation, transmission and  distribution of electric power grew by 11.6% versus Jan-Aug 2015  (down 15.6% in August), whereas the generation of gas and  distribution of gaseous fuel through the gas supply systems dropped  by 4.4% (down 4.2% in August).

In Jan-Aug 2016, the revenues from water supply, waste disposal and  recycling grew 7% as compared to Jan-Aug 215 (vs 10.1% growth a year  before) to 14.5 bln AMD (up 6.4% in August alone to 2 bln AMD). 

The average AMD/USD exchange rate was 475.45 AMD/$1 in August 2016  and 481.89 AMD/$1 in Jan-Aug 2016 versus 479.78 AMD/$1 in August 2015  and 477.29 AMD/$1 in Jan-Aug 2015.

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