6.7% growth registered in industrial sector of Armenia in 2016

ArmInfo. In 2016, the  industrial produce in Armenia grew 6.7% versus 2015  (against 5.2%  growth a year before) to 1.429 trln drams ($2.9bln). Improvement of  processing industry dynamics and continuing upward trend of mining  sector, which traditionally remains the key driver in the industry  dynamics, contributed to acceleration of growth rates.  In Dec 2016  alone, the industrial output increased 6.4% (versus 9.3% rise in Dec  2015) to 143.4 bln drams (297 mln USD).

In Jan-Dec 2016 versus the same period of 2015, mining industry and  open pit mining increased 8.3% (versus 50.4% growth a year before) to  256.4bln drams. In Dec alone, the mining industry output totaled 23.6  bln drams with a 2.2% monthly growth.  Manufacturing industry  increased 7.7% y-o-y (vs 5.6% decline a year before) to 885 bln  drams, of which 89.2 bln drams - in December with 4.9% monthly  growth. 

Production of non-metallic mineral products declined by 20.4% in  Jan-Dec 2016, chemical industry output fell by 8.7%, textile  production by 4.8%. In the meantime, jewelry output rose 97.7%,  production of computers, electric and optic equipment - by 27.5%,  production of tobacco- by 23.5%, and clothes - by 16.4%. In the  manufacturing industry segment, food output made up 287.3 AMD, base  metals - 152.5 bln AMD, cigarettes - 135.1 bln AMD, and beverages -  110.9 bln AMD.

According to statistical data the supply of electric power, gas,  steam and conditioned air increased by 2% in 2016 versus 2015 (vs  6.7% rise a year before) to 265.5 bln drams.  In Dec alone, this  indicator grew by 15.7% to 28.7 bln drams.  In 2016 the revenues from  water supply, waste disposal and recycling grew 7% (vs 10.1% growth a  year before) to 22.1 bln AMD (up 4.2% in Dec alone to 1.9 bln AMD).   The average AMD/USD exchange rate was 482.84 AMD/$1 in December 2016  and 480.49 AMD/$1 in Jan-Dec 2016 versus 482.93 AMD/$1 in Dec 2015  and 477.92 AMD/$1 in Jan- Dec 2015.