ArmInfo. In January-February 2018, the industrial production of Armenia by the same period of 2018 grew by 1.9% (against 8.3% growth a year earlier), reaching 262.9 billion drams ($ 539.7 million). In February alone, the industry demonstrated an increase of 8.9% to 137.7 billion drams ($ 282.1 million). According to the data of the RA Statistical Committee, the dynamics of the industrial sector are caused by the decline in the mining sector and the slowdown in the growth of the manufacturing industry.
Thus, in January-February 2019 versus the same period of 2018, the mining industry and the development of open-pit mines recorded a decline of 7.3% (against a 2% decline a year earlier) - to 45.2 billion drams. And in February alone, the mining industry decreased by 9.3% to 22 billion drams. The volume of manufacturing in January-February 2019 increased by 8% year on year (against a growth of 18.4% a year earlier) - up to 169.5 billion drams, with a monthly increase of 21.3% - up to 93.1 billion drams. Moreover, in the processing industry during the reporting period, decline in volumes was recorded in printing activities - by 54.9%, pharmaceuticals - by 25.2%, electrical equipment production - by 11.8% and base metals - by 10.2%. At the same time, a significant increase was recorded in the production of textiles - by 36.1%, finished metal products - by 35%, rubber and plastmass products- by 27.1% and drinks - by 23.7%.
In the manufacturing industry in terms of production volumes, food is the leader (50.7 billion drams), basic metals (29.6 billion), cigarettes (29.4 billion) and beverages (21.7 billion drams) rank next. According to statistics, the supply of electricity, gas, steam and conditioned air as a whole declined in January-February 2019 by the same period of 2018 by 7% (against a 9% decline a year earlier) - to 44.1 billion drams against the background of a monthly decline of 12.6% to 20.6 billion drams. Moreover, the generation, transmission and distribution of electricity in y-o-y terms increased by 11.6%, while the production of gas and the distribution of gaseous fuel through gas supply systems increased by 11.4%.
Revenues from water supply, cleaning and processing of waste and receiving secondary raw materials for the reporting period decreased by 1.3% per annum (against 0.7% growth a year earlier) - to 4 billion drams. In the monthly terms this segment showed a decline of 3.3% - up to 2 billion drams. Moreover, the downward annual dynamics in this segment are mainly recorded by the collection, processing and disposal of waste, the production of secondary raw materials (a decline of 9.6%).
To recall, the volume of industrial production in Armenia in 2018 compared with 2017 increased by 4.3% (against growth of 12.6% a year earlier), reaching 1.737 trillion drams ($ 3.6 billion). The slowdown in the upward trend was triggered by a decline in the mining sector by 14% (against 13.9% growth a year earlier) and a slowdown in the manufacturing industry growth - from 15.7% a year earlier to 10% in 2018.
The average settlement rate of dram to the US dollar in February 2019 was 488.41 AMD / $ 1, and in January-February - 487.10 AMD / $ 1, against 481.37 AMD/$ 1 in February 2018 and 481.88 AMD/$ 1 in January-February.