Industrial production growth accelerated due to revitalization of  manufacturing industry

ArmInfo.The volume of industrial production in Armenia in January-October 2021 accelerated the y-o-y growth rate from 0.5% to 1.1%, amounting to 1.848 trillion  drams ($ 3.6 billion). This was provoked by the revitalization of the  manufacturing industry. According to the Statistical Committee of the  Republic of Armenia, in October 2021 alone, industrial production  increased its volumes by 3.9%, ensuring the volume of 225.9 billion  drams ($ 471.4 million).

In the quarterly terms, the following dynamics was observed: the  28.8% decline in industrial production in Q1 was sharply replaced by  a double-digit 24.7% growth in Q2, followed by a significant slowdown  in the upward rate to 3.8% in Q3.

In January-October 2021 by the same period of 2020, the mining  industry and open pit development changed the trend to a downward  0.4% (from an upward 14.9% a year earlier), providing a volume of  490.9 billion drams. At the same time, an increase of 2.3% was  recorded in October - up to 49.4 billion drams.

The volume of the manufacturing industry in January-October grew by  0.2% per annum (from a 2.9% decline a year earlier), amounting to 1.1  trillion drams, of which 153 billion drams fell in October with a  monthly growth of 13.1%.

Moreover, in the manufacturing industry, the decline in volumes in  January-October 2021 was observed in the production of cigarettes (by  13.5%), computers, electrical and optical equipment (by 0.9%), the  chemical industry (by 25.1%), basic metals (by 17.3%), finished metal  products (by 42.3%), jewelry (by 36.6%).

At the same time, a significant growth in the manufacturing industry  was recorded in the production of textiles (by 2.1 times), machinery  and equipment (by 87.5%), clothing (by 24.9%), and other non-metallic  mineral products (by 18.9%). and rubber products (by 18.3%).

In the manufacturing industry, the leaders in terms of production are  food (402.9 billion drams), beverages (160.4 billion drams), base  metals (114.5 billion) and cigarettes (111.1 billion drams).   According to statistics, the supply of electricity, gas, steam and  conditioned air in January-October 2021 against the same period of  2020 increased by 7.5% (against growth by 0.4% a year earlier),  amounting to 222.5 billion drams. And in October alone the growth was  recorded by 5.4% - up to 21.4 billion drams.  Moreover, generation,  transmission and distribution of electricity in January-October  increased by 5.8% per annum, while gas production, distribution of  gaseous fuel through gas supply systems increased by 16.7%.

Revenues from water supply, waste treatment and processing and  production of secondary raw materials increased in January-October by  7.4% per annum (against 15.3% decline a year earlier), amounting to  15.4 billion drams.

The average settlement rate of the dram to the US dollar was AMD  479.25 / $ 1 in October 2021, and AMD 508.24 / $ 1 in  January-October.