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.

POST A COMMENT
Input digits     


News
Improved tax-GDP correlation poses risks - Luys foundation Improved tax-GDP correlation poses risks - Luys foundation 
Armenia`s gold reserves to be placed at other agencies` disposal Armenia`s gold reserves to be placed at other agencies` disposal 
Armenian Parliament approves 2024state budget Armenian Parliament approves 2024state budget 
UAE is in TOP-3 of Armenia`s trade partners in terms of export, and  USA in terms of import UAE is in TOP-3 of Armenia`s trade partners in terms of export, and  USA in terms of import 
Memorandums to be signed to allow Armenia to use Iran`s ports Memorandums to be signed to allow Armenia to use Iran`s ports 
The Power of One Dram to the Health Fund for Children of ArmeniaThe Power of One Dram to the Health Fund for Children of Armenia
Armenia increases budget of  servicemen`s housing provision program  with preferential mortgagesArmenia increases budget of  servicemen`s housing provision program  with preferential mortgages
Armenia`s Cabinet to amend North-South Road Corridor agreement with  EIBArmenia`s Cabinet to amend North-South Road Corridor agreement with  EIB
Delay in sale of MTS Armenia was related to research, as it was  directly related to issue of national security: PremierDelay in sale of MTS Armenia was related to research, as it was  directly related to issue of national security: Premier
Armenia should produce high-quality products to have access to many  world markets - KerobyanArmenia should produce high-quality products to have access to many  world markets - Kerobyan
Crossroads of Peace project is bolstered by economic calculations,  Pashinyan assuresCrossroads of Peace project is bolstered by economic calculations,  Pashinyan assures
Problems with supply of Armenian products to Russia were discussed in  MoscowProblems with supply of Armenian products to Russia were discussed in  Moscow
`Always look in mirror before blaming others`: Zakharova on situation  at Upper Lars`Always look in mirror before blaming others`: Zakharova on situation  at Upper Lars
 Armenia`s pensioners to get cash-back without changing accounts next  year Armenia`s pensioners to get cash-back without changing accounts next  year
Reserve Fund planned to be increased next yearReserve Fund planned to be increased next year
Armenia`s budget deficit could be 4.6% of GDPArmenia`s budget deficit could be 4.6% of GDP
Armswissbank participates in the 28th un climate change conference (cop 28)Armswissbank participates in the 28th un climate change conference (cop 28)
Armenia`s Parliament discussing final version of 2024 draft budgetArmenia`s Parliament discussing final version of 2024 draft budget
UNDP launches innovative community initiative in ArmeniaUNDP launches innovative community initiative in Armenia
Armenia could serve as a bridge between India, Iran and EAEU  member-states - Mnastakan Safaryan Armenia could serve as a bridge between India, Iran and EAEU  member-states - Mnastakan Safaryan 
Ministry of Finance intends to delegate powers of management of  precious metals to other government agencies Ministry of Finance intends to delegate powers of management of  precious metals to other government agencies 
EEC discusses situation at Upper Lars checkpoint EEC discusses situation at Upper Lars checkpoint 
Artyom Ghazaryan was appointed CEO of Artyom Ghazaryan was appointed CEO of "Telcell" company
Politics mixed with economy at Upper Lars checkpoint - Gagik Makaryan  Politics mixed with economy at Upper Lars checkpoint - Gagik Makaryan  
Team Telecom Armenia makes NGN network available in Armenia`s SyunikTeam Telecom Armenia makes NGN network available in Armenia`s Syunik
EDB, UNIDO strengthen cooperation in Central Asia and ArmeniaEDB, UNIDO strengthen cooperation in Central Asia and Armenia
Procedure for submitting documents to sign CMPTL contract in Armenia  to be simplified for fined driversProcedure for submitting documents to sign CMPTL contract in Armenia  to be simplified for fined drivers
Vahan Kerobyan: Fly Arna national air carrier needs additional  fundingVahan Kerobyan: Fly Arna national air carrier needs additional  funding
Granatus Ventures co-founder: In Armenia, in the context of creating  startups, we should follow the path of commercialization of  intellectual property productsGranatus Ventures co-founder: In Armenia, in the context of creating  startups, we should follow the path of commercialization of  intellectual property products
Expert: Young scientists do not see opportunities in Armenia to  realize their potentialExpert: Young scientists do not see opportunities in Armenia to  realize their potential
Ardshinbank was recognized as the Bank of the Year in Armenia for the fourth time by The Banker magazineArdshinbank was recognized as the Bank of the Year in Armenia for the fourth time by The Banker magazine
Second co-project of AraratBank and 4090 Charity Foundation to support education for war participantsSecond co-project of AraratBank and 4090 Charity Foundation to support education for war participants
Burden of social payments: RA Burden of social payments: RA "updated budget" 
Situation at the Upper Lars checkpoint was expected - expert Situation at the Upper Lars checkpoint was expected - expert 
Non-financial reporting: Can it exist in Armenia?Non-financial reporting: Can it exist in Armenia?
Don`t believe headlines that world is facing instability because of  Ukraine, Gaza or China- Nassim TalebDon`t believe headlines that world is facing instability because of  Ukraine, Gaza or China- Nassim Taleb
New program to support processing industry enterprises is launched in  Armenia - Ministry of EconomyNew program to support processing industry enterprises is launched in  Armenia - Ministry of Economy
EBRD, EU and Sweden backing Acba Bank with USD 10 million loan for  Armenian women-led firmsEBRD, EU and Sweden backing Acba Bank with USD 10 million loan for  Armenian women-led firms
Armenia sees opportunities to develop country`s economy in tourism -  KerobyanArmenia sees opportunities to develop country`s economy in tourism -  Kerobyan
Armenia is doing everything possible to keep its companies free from  secondary sanctions - ministerArmenia is doing everything possible to keep its companies free from  secondary sanctions - minister
EIB expresses its readiness to discuss with Armenian side prospects  for cooperation on implementation of new projectsEIB expresses its readiness to discuss with Armenian side prospects  for cooperation on implementation of new projects
Civil Aviation Committee has no data on possible withdrawal of Air  Arabia from Armenia`s marketCivil Aviation Committee has no data on possible withdrawal of Air  Arabia from Armenia`s market
Mher Grigoryan appointed member of ERC Board of ManagersMher Grigoryan appointed member of ERC Board of Managers
Road to Upper Lars checkpoint is open for all types of vehiclesRoad to Upper Lars checkpoint is open for all types of vehicles
RA premier receives Amazon Web Services public policy regional  director RA premier receives Amazon Web Services public policy regional  director 
EAEU membership does not hinder Armenia`s exports EU - KerobyanEAEU membership does not hinder Armenia`s exports EU - Kerobyan
Armenia`s Economy Ministry convenes urgent discussion within EAEU on  situation at Upper Lars Armenia`s Economy Ministry convenes urgent discussion within EAEU on  situation at Upper Lars 
Ameriabank to sponsor 100MW of Ameriabank to sponsor 100MW of "green energy" to Armenia`s energy  sector next year
Armenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MPArmenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MP
Converse Bank acts as underwriter for corporate AMD coupon bonds of  Euroterm companyConverse Bank acts as underwriter for corporate AMD coupon bonds of  Euroterm company
Minister: by 2040, volume of electricity production from solar  generation facilities to be increased by another 1,500 MWMinister: by 2040, volume of electricity production from solar  generation facilities to be increased by another 1,500 MW
There has been significant increase in investments in renewable  energy in ArmeniaThere has been significant increase in investments in renewable  energy in Armenia
Forced migrants from Artsakh, can benefit from state program  supporting housing construction in border villages of Armenia, after  acquiring RA citizenshipForced migrants from Artsakh, can benefit from state program  supporting housing construction in border villages of Armenia, after  acquiring RA citizenship
For the first time, non-cash bankcard transactions exceed `cash` onesFor the first time, non-cash bankcard transactions exceed `cash` ones
Electric energy market liberalization to form efficient system -  Vahagn Khachaturyan Electric energy market liberalization to form efficient system -  Vahagn Khachaturyan 
Armenia, ADB sign two loan agreements worth over EUR 126mln Armenia, ADB sign two loan agreements worth over EUR 126mln 
Along with transition to non-cash payments in Armenia, POS-terminals  network in retail locations is actively expandingAlong with transition to non-cash payments in Armenia, POS-terminals  network in retail locations is actively expanding
EBRD, HSBC Armenia sign RSF framework agreement to facilitate  Armenian firms` access to finance EBRD, HSBC Armenia sign RSF framework agreement to facilitate  Armenian firms` access to finance 
Team begins cooperation with Loft to promote activation and  dissemination of projects for young peopleTeam begins cooperation with Loft to promote activation and  dissemination of projects for young people
ADB stands ready to expand joint programs with Armenia - Masatsugu  AsakawaADB stands ready to expand joint programs with Armenia - Masatsugu  Asakawa
Read more


Exchange rates
08.12.2023
RUB4.410.06
USD403.24-0.19
EUR434.850.15
GBP507.28-0.68
CAD297.070.12
JPY27.920.06
CNY56.31-0.10
CHF460.85-1.11