Friday, November 30 2018 18:56

ArmInfo The volume of industrial production in Armenia in January-October 2018 grew by 4.5% per annum (against a growth of 12.4% a year earlier), amounting to 1.409 trillion drams ($ 2.9 billion).

The slowdown in the growth of industrial production is caused by the deterioration of the dynamics of the mining sector and the inhibition of the growth of the  manufacturing industry. According to the RA Statistical Committee, in  October 2018 alone, industrial production increased volumes by 11%  (against a growth of 3.7% in October 2017) with a volume of 164  billion drams ($ 338.1 million).

In January-October 2018 versus the same period of 2017, the mining  industry and the development of open-pit mines recorded a decline of  13% (against 12% growth a year earlier) - to 251 billion drams. In  October alone, the mining sector ensured a volume of 25.5 billion  drams, with a monthly increase of 27.6%.

The volume of the processing industry increased in January-October by  10% per annum (against a growth of 15.8% a year earlier) - up to  925.2 billion drams, of which 115.1 billion drams were registered in  October (growth within the month 8.3%).

Moreover, in the processing industry, the decline in volumes in  January-October 2018 was recorded in the production of electrical  equipment (by 22.9%) and base metals (by 1.5%). At the same time, a  significant increase was recorded in the production of machinery and  equipment (by 83.8%), furniture (by 49.1%), chemical production (by  44.6%), and other non-metallic mineral products (42.2%). In the  manufacturing industry in terms of production volumes, foodstuffs  (266.2 billion drams), basic metals (147.4 billion), cigarettes  (135.1 billion drams) and drinks (124.6 billion) are leading.

According to statistics, the supply of electricity, gas, steam and  conditioned air in general increased in January-October 2018 against  the same period of 2017 by 1.8% (against a similar increase a year  earlier) - up to 210.8 billion drams. And in October alone, an  increase of 11.2% was recorded - to 21.1 billion drams. Moreover, the  generation, transmission and distribution of electricity in  January-October increased by 7.1% per annum (with growth in October  by 9.6%), while gas production and the distribution of gaseous fuel  through gas supply systems decreased by 1.2% (with an increase of  20.3% in October).

Revenues from water supply, cleaning and processing of wastes and  receiving secondary raw materials decreased in January-October by  0.6% per annum (against 8.8% growth a year earlier) - to 21.8 billion  drams, however in October alone they decreased by 5, 8% - up to 2.3  billion drams. Moreover, the decline in this segment was mainly  determined by the collection, processing and disposal of waste, the  production of secondary raw materials (y-o-y decline of 7%, with a  decline of 4.7% within the month).

To recall, the volume of industrial production in Armenia in 2017  compared to 2016 increased by 12.6% (against a growth of 6.7% a year  earlier), reaching 1.660 trillion drams ($ 3.4 billion). The  improvement in the dynamics was conditioned by 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 exchange rate of the dram to the US dollar in  October 2018 was 484.93 AMD/$ 1, and in January-October - 482.49  AMD/$ 1 in January-October 2017