Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 

ArmInfo.The industrial sector of Armenia increased its production volumes by 3.1% per annum in Q1 2022 (against 3.9% decline a year earlier), amounting to 550.7 billion  drams ($1.1 billion). At the same time, in March alone, the volume of  production decreased by 1.3% - to 187.5 billion drams ($377.4  million). This is evidenced by the data of the RA Statistical  Committee.

The improvement in the dynamics in the industrial sector is due to  the recovery of the dominant manufacturing industry from recession to  growth, while the mining industry has reduced production volumes.

In particular, in Q1 2022, by the same period in 2021, mining and  open pit development showed a decline of 12.9% (instead of an  increase of 8.1%) to 144.7 billion drams. And in March alone, the  mining industry reduced production volumes by 13.6% - to 44.4 billion  drams.

The volume of the manufacturing industry in Q1 2022 increased by  10.9% on a y-o-y terms (against a decline of 11.6% a year earlier) -  up to 303.8 billion drams, with an increase of 4.7% in March alone -  up to 110.4 billion drams.

At the same time, in terms of the manufacturing industry in Q1 2022,  the production volumes of the chemical industry decreased by 8.2%,  pharmaceuticals - by 13.2%, computers, electronic and optical  equipment - by 33.9% and electrical equipment - by 9.5%.  Significant  growth was recorded in the production of machinery and equipment - by  3.7 times, jewelry - by 72.7%, printing products - by 57.2%, other  non-metal products - by 46.9%, furniture - by 41.8%, textiles - by  27.3%, finished metal products - by 22%, as well as in the production  of basic metals - by 14.1%, food - by 8.2%, rubber and plastic  products - by 4.2%, clothing - by 2.9%, cigarettes - by 2.1%, drinks  - 1.3%.  Food products (109.4 billion drams), basic metals (47.1  billion), drinks (37.1 billion drams) and cigarettes (28.1 billion)  are leading in the manufacturing sector in terms of production.

According to statistical data, the supply of electricity, gas, steam  and conditioned air in general increased in Q1 2022 compared to the  same period in 2021 by 3.3% (against 11.2% growth a year earlier) -  up to 96.3 billion drams, against the backdrop of monthly decline by  2.9% - up to 30.8 billion drams.

Moreover, during the reporting period, the generation, transmission  and distribution of electricity increased by 0.7% per annum,  amounting to 75.2 billion drams, while the production of gas, the  distribution of gaseous fuel through gas supply systems increased by  13%, providing a volume of 21.1 billion drams.

Revenues from water supply, waste treatment and processing, and the  receipt of secondary raw materials increased by 6.7% over the  reporting period (instead of an increase of 0.9%) - up to 5.8 billion  drams.

It should be noted that in 2021, Armenia's industrial sector has  shown positive dynamics, providing 2.385 trillion drams($4.7  billion), which is 3.3% higher than the indicator of a year ago  (instead of a decline of 0.9% a year earlier). The upward dynamics  was mainly due to the change of negative indicators of the  manufacturing industry to positive ones, against the backdrop of a  slight decrease in the volumes of the mining sector. In particular,  in 2021 compared to 2020 a decline of 0.8% was recorded in the mining  industry and the development of open pits, with a volume of 587.9  billion drams. The manufacturing industry grew by 3.4% - exceeding  1.4 trillion drams. The average settlement rate of the dram in  January- March 2022 was 486.40 AMD/$1, and in March 2022 - 496.96  AMD/$1.