ArmInfo. The volume of industrial production in Armenia in 2019 compared to 2018 accelerated growth to 9% (against a slowdown in 2018 from 12.6% to 4.3%), amounting to 2.104 trillion. drams ($ 4.4 billion). The acceleration of the upward dynamics was provoked by the trend of the mining sector from recession to growth with continued growth in the manufacturing industry. In December 2019 alone, industrial production increased by 14.7% (against an increase of 12.5% in December 2018) with a volume of 247.8 billion drams ($ 518.2 million).
In 2019, compared with 2018, in the mining industry and open pit mining, an increase of 23.9% was recorded (against a 14% decline a year earlier) - up to 356.3 billion drams. In December alone, the mining sector provided 32.8 billion drams with a monthly decline of 6.1%, with an annual growth of 23.9%. The volume of manufacturing industry increased over the year by 7.6% (against growth by 10% a year earlier) - up to 1.5 trillion. drams, of which 187.4 billion drams fell in December, having increased over the month by 18.7% (with an annual growth of 3.7%).
Moreover, in the manufacturing industry, a significant increase in volumes in 2019 was recorded in the production of finished metal products (by 50.7%), other non-metallic mineral products (by 41.2%), furniture (by 36.9%), and electrical equipment (by 20, 8%), clothing (by 20.1%), textiles (by 15.9%), drinks (15.4%) and chemical production (by 13.8%). At the same time, the subsidence of volumes was recorded in the production of base metals (by 3.5%), machinery and equipment (by 9.7%) and jewelry (by 7.5%). In the manufacturing sector, food products (547.2 billion drams), cigarettes (196.4 billion), beverages (184.6 billion drams), and base metals (167.8 billion) are leaders in terms of production volumes. According to statistical data, the dynamics of supply of electricity, gas, steam and air-conditioned from 5.7% growth in 2018 entered a stagnant 0% in 2019, amounting to 254 billion drams. Only in December, an increase of 17.8% was recorded - up to 25.8 billion drams. Moreover, the generation, transmission and distribution of electricity for the year decreased by 2.5% per year (with an increase in December by 18.1%), while gas production, distribution of gaseous fuels through gas supply systems increased by 11.2 per year % (with an increase of 16.8% in December).
Revenues from water supply, waste treatment and processing and the receipt of secondary raw materials decreased in 2019 by 3.1% (against a 2% decline a year earlier) - to 24.9 billion drams, while a decline in December by 4.7% - to 1.8 billion drams. Moreover, the deterioration in dynamics is due to the acceleration of the decline in the segment of waste collection, processing and destruction from 7.9% in 2018 to 35.3% in 2019.
Recall that the volume of industrial production in Armenia in 2018 slowed down annual growth from 12.6% to 4.3%. The deterioration of the dynamics provoked a reversal of the trend in the mining sector from 13.9% growth to a 14% decline, and a slowdown in the growth of the manufacturing industry from 15.7% to 10%.
The average settlement rate of dram in December 2019 was 478.24 dr / $ 1, and in January-December 2019 - 480.45 dr / $ 1, against 484.67 dr / $ 1 in December 2018 and 482.99 dr / $ 1 - in January December 2018 It should be noted that according to the forecast of the World Bank updated in early January 2020, it indicated an increase in expectations of Armenia's GDP growth in 2019 by 6.9% (compared to the previous 5.5%), and for 2020 it was predicted to slow down to 5.1% with acceleration in 2021 and 2022 to 5.2%. IMF forecasts for Armenia's GDP growth were much more modest: in 2019 by 4.6% with a slowdown in 2020 to 4.5%. The Central Bank of the Republic of Armenia, judging by the forecast updated in December, once again improved its expectations for GDP growth for 2019, indicating a range of 7-7.3% (7.2% on average), against 6.7-7.2% previously forecasted (average 6.9%). For 2020, the Central Bank and the government came up with a similar forecast to the IMF growth.
