Wednesday, January 31 2018 17:14
Alina Hovhannisyan

2017 Armenian industrial sector finished with 12.6% growth

2017 Armenian industrial sector finished with 12.6% growth

ArmInfo. The volume of industrial production in Armenia in 2017 as compared to 2016 grew by 12.6% (against growth of 6.7% a year earlier), amounting to 1.660 trillion AMD ($ 3.4 billion).

The improvement in dynamics was reflected in the acceleration of the growth rates of the mining sector and the manufacturing industry. Only in December 2017, industrial production increased by 0.2% (against growth of 6.4% in December 2016) with a volume of 169.6 billion AMD ($ 351 million).

In 2017 compared to 2016 in the mining industry and the development of open pits recorded growth of 13.9% (compared to 8.3% growth a year earlier) - up to 337.7 billion AMD. Only in December the mining sector provided a volume of 32.1 billion drams with a monthly growth of 1.9%. The volume of manufacturing industry increased by 15.7% year-on-year (against growth of 7.7% a year earlier) - up to 1 trillion AMD, of which 108.2 billion fell in December, an increase of 9.9% over the month.

Moreover, in the manufacturing industry, a significant increase in volumes in 2017 was recorded in the production of electrical equipment (2.3 times), jewelry (35.7%), furniture (35.3%), clothing (34.2%), Textiles (by 34.1%), beverages (by 34%), other non-metallic mineral products (by 30.7%). At the same time, subsidence was recorded only in the production of machinery and equipment (by 1%). In the processing industry, food products (296.6 billion AMD), basic metals (175 billion), cigarettes (157.7 billion), beverages (149.2 billion) are leading in terms of production volumes.

According to statistical data, the supply of electricity, gas, steam and air conditioning as a whole increased by 1.2% in 2017 (against growth of 2% a year earlier) to 258.8 billion AMD. Only in December the growth was registered by 26.4% - up to 27.5 billion. Moreover, generation, transmission and distribution of electricity for the year increased by 0.9% per annum (with growth in December by 27.4%), while gas production, distribution of gaseous fuels through gas supply systems increased by 2.2% (with growth of 21.9% in December).

Revenues from water supply, waste treatment and processing and recycling increased by 8.1% (against 7% growth a year earlier) - up to 25 billion drams, with a drop of 14.8% in December to 1.8 billion .Dram.  Moreover, the growth in this segment, mainly, resulted in the collection, processing and destruction of waste (annual growth of 26%, with growth of the month by 4.9%).

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 AMD ($ 2.9 billion). The slight acceleration in the growth rate was due to a sharp slowdown in the upward trend of the mining sector, from 50.4% in 2015 to 8.3% in 2016 - to 256.4 billion AMD, while improving the dynamics of the manufacturing industry - with an exit from the 5.6% decline by 7.7% growth - up to 885 billion AMD.

The average calculated exchange rate of the dram to the US dollar was 483.18 AMD/USD1 in December 2017, and 482.72 AMD/USD1 in Jan-Dec 2017, versus 482.84 AMD/USD1 in December 2016 and 480, 49 AMD/USD1 in Jan-Dec 2016.

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