Saturday, March 31 2018 12:51
Alina Hovhannisyan

The industrial sector of Armenia in January-February 2018 slowed the growth rate to 8.3% from 16.1% a year earlier

The industrial sector of Armenia in January-February 2018 slowed the  growth rate to 8.3% from 16.1% a year earlier

ArmInfo. In January-February  of 2018, the volume of Armenia's industrial production by the same  period of 2017 increased by 8.3% (against 16.1% growth a year  earlier), making 254.7 billion AMD($ 528.5 million). Only in  February, the industry showed an increase of 0.4% to 126.4 billion  AMD($ 262.7 million). According to the National Statistical  Service of Armenia, the growth of the industrial sector is due to the  improvement in the dynamics of the manufacturing industry against the  backdrop of a decline in the mining sector.

So, in January-February of 2018 to the same period in 2017 in the  mining industry and the development of open pits, a 2% decline was  registered (against 8% growth a year earlier) to 53.6 billion AMD.  But only in February the mining industry decreased by 14.7% to 24.2  billion AMD. The volume of manufacturing industry in January-February  2018 increased by 18.4% year-on-year (against growth of 23.3% a year  earlier) to 147 billion AMD, while the monthly growth of 12% - to  77.98 billion AMD.

Moreover, in the manufacturing industry during the reporting period  only the volume of beverage production - by 3.1%. At the same time, a  significant growth was recorded in the production of other non-  metallic mineral products - 3 times, production of machinery and  equipment - 2.1 times, textiles - 2.3 times, clothing - 2 times,  chemical products - 98.7%, rubber and plastic products - by 62.7%,  finished metal products - by 59.5%. In the manufacturing sector, food  products (38.2 billion drams), basic metals (31.4 billion),  cigarettes (25.1 billion), beverages (17.2 billion drams) are leading  in terms of production volumes.

According to the statistical data, the supply of electricity, gas,  steam and air conditioning as a whole decreased in January-February  2018 to the same period in 2017 by 9% (against 9% growth a year  earlier) to 50.1 billion AMD against the background of a monthly  decline of 11, 8% to 22.4 billion AMD. Moreover, generation,  transmission and distribution of electricity in the annual section  increased by 2.3%, while gas production, distribution of gaseous  fuels through gas supply systems decreased by 26.3%.  Revenues from  water supply, waste treatment and processing and receipt of secondary  raw materials increased by 0.7% per annum (against 5.3% growth a year  earlier) to 4 billion AMD during the reporting period. On a monthly  basis, this segment showed a decline of 9.2% to 1.9 billion AMD.  Moreover, the upward annual dynamics in this segment, mainly, the  collection, processing and disposal of waste, the receipt of  secondary raw materials (an increase of 14.8%).  The volume of  industrial production in Armenia in 2017 as compared with 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 rate of the mining sector  to 13.9% from 8.3% a year earlier and from the manufacturing industry  to 15.7% from 7.7% a year earlier.  The average calculated exchange  rate of the dram to the US dollar in February 2018 was 481.37 AMD / $  1, and in January-February - 481.88 AMD / $ 1, against 486.51 AMD / $  1 in February 2017 and 486.26 other / $ 1 in January-February.

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