Tuesday, August 6 2019 14:26

ArmInfo.The volume of industrial production in Armenia in the first half of 2019 increased by 6.9% compared to the same period in 2018 (against an increase of  3.7% a year earlier), amounting to 900.5 billion drams ($ 1.8  billion). According to the RA Statistical Committee, the acceleration  of industrial sector growth is due to a change in the trend of the  mining sector from downward to upward and the continued growth of the  manufacturing sector. Moreover, in June this year industrial volumes  increased by 6.3% (against an increase of 5.8% in June 2018) to 167.4  billion drams ($ 350 million).

In the first half of 2019 versus the same period of 2018, 6.8% growth  in mining and open pit mining was recorded (against the 9.8% decline  a year earlier) with provision of a volume of 159.2 billion drams. In  June alone, the mining sector showed a growth of 4.6% to 30 billion  drams (against a growth of 1.8% in June 2018). The volume of  manufacturing industry increased in the first half of this year by  8.7% per annum (against growth by 8.6% a year earlier) - up to 605.1  billion drams, of which 114.4 billion drams accounted for June, with  a monthly increase of 4.8%.

Moreover, in the manufacturing industry, decline in the first half of  2019 was recorded in the production of jewelry (by 31.8%), base  metals (by 2.5%), computers, electrical and optical equipment (by  1.9%) and pharmaceuticals ( 0.7%). A high growth is recorded in the  production of electronic equipment (by 38.2%), other non-metallic  products (by 37%), machinery and equipment (by 35.6%), textiles (by  35.5%). The leading industries in terms of production are food  products (201.1 billion drams), cigarettes (91.5 billion), base  metals (85.4 billion), beverages (73.4 billion) and jewelry (17.5  billion).  The supply of electricity, gas, steam and air conditioning  fell in the first half of 2019 versus the same period in 2018 by 0.3%  (against an increase of 3.3% a year earlier) - to 123.4 billion  drams. In June alone, an increase of 18.8% was recorded - up to 20.7  billion drams. At the same time, generation, transmission and  distribution of electricity in the first half of the year decreased  by 3% per annum, and in June alone increased by 21.7%. At the same  time, gas production, distribution of gaseous fuels through gas  supply systems increased by 12.4%, but in June alone, on the  contrary, decreased by 7%.  Revenues from water supply, waste  treatment and recycling and the receipt of secondary raw materials  increased in the first half of the year by 2.7% per annum (against  1.6% growth a year earlier) - up to 12.7 billion drams, with growth  only in June by 7.8 % - up to 2.4 billion drams. Moreover, growth in  this segment was mainly determined by the collection, treatment and  distribution of water - in y-o-y terms by 7%.

To recall, the volume of industrial production in Armenia in 2018  compared with 2017 increased by 4.3% (against growth by 12.6% a year  earlier), amounting to 1.737 trillion drams ($ 3.6 billion). The  slowdown in upward dynamics was triggered by a 14% decline in the  mining sector (against 13.9% a year earlier) and a slowdown in the  manufacturing industry - from 15.7% a year earlier to 10% in 2018.   The average settlement rate of dram in June 2019 was 478.47 AMD / $  1, and in the first half of the year - 484.16 AMD / $ 1, against  482.62 AMD / $ 1 in June 2018 and 482.04AMD / $ 1 - in the first half  of 2018.