The Armenian industrial sector in January-July 2018 slowed down annual growth rate from 12.7% to 4.3%

ArmInfo. The volume of industrial production in Armenia in January-July 2018 by the same period of 2017 increased by 4.3% (against growth of 12.7% a year earlier), making 954.6 billion drams ($ 1.98 billion). According to the National Statistical Service of Armenia, the slowing of the uptrend caused a decline in the mining sector and a modest growth in the manufacturing sector. At the same time in July this year. The volume of industry increased by 3.4% (against growth of 2.7% in July 2017) to 149.5 billion drams ($ 310.6 million).

In January-July of 2018, to the same period in 2017 in the mining industry and the development of open pits registered a decline of 10.7% (against 9.1% growth a year earlier), with the volume at the level of 182.5 billion drams. Only in July, the mining sector showed a 2.2% decline to 24.5 billion drams (against growth of 11.2% in July 2017). The volume of manufacturing industry increased by 9.3% per annum in January-July (against growth of 17.5% a year earlier) to 607.6 billion drams, of which 99.7 billion drams fell in July, with an annual growth of 13.3% (against 17.4% growth a year earlier).

Moreover, in the manufacturing industry, the decline in volumes in January-July 2018 was recorded exclusively in the production of basic metals (by 1.8%) and the production of electrical appliances (by 11.7%). High growth is recorded in the production of machinery and equipment (by 77.6%), furniture (by 55%), clothing (by 50.6%), non-metallic ores (by 44.5%), computers and equipment (by 43, 6%), chemical products (by 38.6%), jewelry (by 34.3%), printing and replicating of recorded media (by 29.5%). In the manufacturing sector, food products (175.7 billion drams), basic metals (101.99 billion), cigarettes (87.1 billion), beverages (79.8 billion) and jewelry (31.5 billion) are leading in terms of production volumes.

Supplies of electricity, gas, steam and air conditioning in general increased in January-July 2018 to the same period in 2017 by 4.7% (against growth of 1.4% a year earlier) to 149.7 billion drams. Only in July the growth was registered by 12.7% - up to 22.97 billion drams. At the same time, generation, transmission and distribution of electricity in January-July increased by 7.3% per annum, and only in July - by 13.5%. At the same time, gas production, distribution of gaseous fuels through gas supply systems decreased by 6.9%, but only in July, by contrast, increased by 8.2%.

Revenues from water supply, waste treatment and processing and recycling decreased in January-July by 0.7% per annum (against 9% growth a year earlier) to 14.7 billion drams, with growth only in July by 5.6% - up to 2.4 billion drams. And the decline 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 7%.

Recall that the volume of industrial production in Armenia in 2017 compared to 2016 grew by 12.6% (against growth of 6.7% a year earlier), amounting to 1.660 trillion drams ($ 3.4 billion). The improvement in the dynamics was reflected in the acceleration of the growth rate of the mining sector to 13.9% (from 8.3% a year earlier) and the manufacturing industry to 15.7% (from 7.7% a year earlier).

The average calculated exchange rate of the dram was 481.43 AMD / $ 1 in July 2018, and 481.95 AMD / $ 1 in January-July, compared to 479.04 AMD / $ 1 in July 2017 and 483.78 AMD / $ 1 in January July, 2017.