National Statistical Service of RA: The industrial sector of Armenia in the first half of 2017 accelerated the annual growth rates from 8.9% to 12.4%

ArmInfo. The volume of  industrial production in Armenia in the first half of 2017 to the  same period of the previous year increased by 12.4% (against growth  of 8.9% a year earlier), making 760.4 billion drams ($ 1.5 billion).   According to the National Statistical Service of Armenia, the  acceleration of the upward trend caused the growth of the mining  sector and the manufacturing sector. However, against this  background, the monthly dynamics of the industrial sector of Armenia  showed a decline. So, in June of this year. The volume of industry  decreased by 3.4% (against growth of 11.4% in June 2016) to 135.3  billion drams ($ 280.9 million).In the first half of 2017. 

To the same period in 2016 in the mining industry and the development  of open pits registered an increase of 8.9% (against 18.8% growth a  year earlier), with the volume at the level of 155.7 billion drams.   Only in June the mining sector showed a volume of 25.2 billion drams  with an annual decline of 10.3% (instead of growth of 3.5% in June  2016). The volume of manufacturing industry increased in the first  half of the year by 17.5% per annum (against growth of 5.1% a year  earlier) - to462.8 billion drams, of which 90.7 billion drams fell in  June, fromAnnual decline of 1.3% (against 17.7% growth a year  earlier).Moreover, in the manufacturing industry, the subsidence of  volumes in IIn the first half of the year 2017, only in the  production ofEquipment (by 23.6%). A high growth is recorded in the  production of electrical equipment (2.2 times), printing and  reproduction of recorded media (50.2%), furniture (36.8%), jewelry  (34.1%), textiles (By 27.5%). In the processing industry, food  products (145.5 billion drams), basic metals (82.1 billion),  cigarettes (70.6 billion), beverages (61.6 billion) and jewelry (22.5  billion) are leading in terms of production volume.Supplies of  electricity, gas, steam and air conditioning in general increased by  0.5% in the first half of 2017 (by the same period in 2016) (against  growth of 11.4% a year earlier) to 129.7 billion drams. While in June  a decline was registered by 6.3% - up to 16.9 billion drams. At the  same time, generation, transmission and distribution of electricity  in the first half of the year decreased by 4.3% per annum, and only  in June - by 7.3%. 

At the same time, gas production, distribution of gaseous fuels  through gas supply systems increased by 21.2%, and only in June- only  by 1.1%).Revenues from water supply, waste treatment and processing  and receipt of secondary raw materials increased by 9% per annum in  the first half of the year (against 15.8% growth a year earlier) to  12.1 billion drams, with growth only in June by 18.3% Up to 2.4  billion drams.  And growth in this segment was mainly caused by the  collection, processing and destruction of waste, the receipt of  secondary raw materials - in the annual section by 27.4%, but only in  June by 69.9%.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 in the growth rate was due to a sharp slowdown in the  upward trend in 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 481.52 dr / $ 1 in June 2017, and in  January-June - 484.57 dr / $ 1, against 477.53 dr / $ 1 in June 2016  and 483.86 Other / $ 1 in January-June 2016.