Friday, December 29 2017 15:23
Alina Hovhannisyan

Over the 11 months of 2017, the Armenian industrial sector accelerated its annual growth rate from 6.8% to 12.3%

Over the 11 months of 2017, the Armenian industrial sector accelerated its annual growth rate from 6.8% to 12.3%

ArmInfo. The volume of industrial production in Armenia in January-November 2017 to the same period of the previous year increased by 12.3% (against growth of 6.8% a year earlier), amounting to 1.491 trillion. AMD ($ 3.1 billion). Accelerating the growth rates was facilitated by the improvement in the dynamics of the manufacturing industry and the mining sector, which is a traditional driver of growth. Only in November 2017 industrial production showed a decline of 0.3% (against growth of 5.7% in November 2016) with a volume of 153 billion drams ($ 315.3 million).

In Jan-Nov 2017 to the same period in 2016 in the mining industry and the development of open pits recorded growth of 13% (compared to 9.8% growth a year earlier) - up to 305.7 billion drams. Only in November the mining sector provided a volume of 31.1 billion drams with a monthly decline of 2.8%. The volume of manufacturing industry increased by 15.5% per annum (against growth of 7.1% a year earlier) to 931.2 billion drams, of which 98.5 billion drams fell in November, having decreased by 2.1%.

In the manufacturing industry, a significant subsidence of volumes in January-November 2017 was recorded only in the production of machinery and equipment (a decline of 14.1%). At the same time, a significant increase was recorded in the production of electrical equipment (2.6 times), beverages (34.7%), textiles (34%), jewelry (33.8%), clothing (31.7%). In the processing industry, food products (270.1 billion drams), basic metals (157.4 billion), cigarettes (137.1 billion), beverages (135.1 billion drams) are leading in terms of production volumes.

According to statistical data, the supply of electricity, gas, steam and air conditioning in general increased in January-November 2017 to the same period in 2016 by 1% (against growth of 3.1% a year earlier) to 231.3 billion drams. Only in November the growth was registered by 14.5% - up to 21.3 billion drams.  Moreover, generation, transmission and distribution of electricity in January-November decreased by 0.4% per annum (with growth of 10% in November), while gas production, distribution of gaseous fuels through gas supply systems increased by 7.1% (with growth of 44.5% in November).

Revenues from water supply, waste treatment and processing and receipt of secondary raw materials increased by 9.4% per annum (against 6.4% growth a year earlier) to 23.2 billion drams, with a decrease in November by 1.3% % to 2.2 billion drams. Moreover, the growth in this segment, mainly, caused the collection, processing and destruction of waste (annual growth of 25.9%, with growth for the month by 2%).

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