Armenia`s industry hardly retains growth by Dec 2025 

ArmInfo.  Armenia's industrial sector growth stalled in January- November 2025, falling  from 7.6% to a stagnant 0.5%, reaching 2.8 trillion drams ($7.2  billion). In November alone, industry demonstrated growth of 12.8% to  401.2 billion drams ($1 billion). According to data from the  Statistical Committee of the Republic of Armenia, this weakening of  annual growth is explained by a decline in manufacturing, amid a  modest improvement in the mining sector.

Specifically, in January-November 2025, compared to the same period  in 2024, Mining and open-pit mining production totaled 463.4 billion  drams, rebounding from an 8% decline to a 4.1% increase. In November  alone, production increased by 4.4% to 52.7 billion drams.

Manufacturing production reversed its trajectory from 10.8% growth to  a 1.9% decline, exceeding 1.9 trillion drams, of which 313.1 billion  drams came in November, representing a 14.4% month-over-month  increase. In the manufacturing industry, a noticeable decline in  volumes from January to November 2025 was recorded in the production  of jewelry (by 53.2%), base metals (by 28.2%), leather and leather  products (by 22.2%), beverages (by 12.5%), electrical equipment (by  11.6%), and other non-metallic products (by 10.4%).

Significant growth was noted in the production of coke and petroleum  products (by 3.7 times), the chemical industry (by 70.9%), machinery  and equipment (by 48.7%), cigarettes (by 42%), and computers,  electronic and optical equipment (by 28.8%). The leading production  volumes in the manufacturing industry are food products (633.3  billion drams), basic metals (377.9 billion drams), cigarettes (270.4  billion drams), beverages (184.6 billion drams), and other  non-metallic mineral products (153 billion drams).

According to statistics, electricity, gas, steam, and air  conditioning supplies increased by 10.5% in January- November 2025  compared to the same period in 2024 (versus 12.6% growth the year  before), reaching 335.5 billion drams. In November alone, a 14.2%  increase was recorded, reaching 32.8 billion drams.  Moreover,  electricity generation, transmission, and distribution grew by 11.5%  year-on-year in January- November, while gas production and  distribution of gaseous fuels through gas supply systems grew by 5.1%  year-on-year.

Revenues from water supply, waste treatment and processing, and  secondary raw materials increased by 2.4% year-on-year during the  reporting period (versus 5.7% growth the year before) to AMD 29.7  billion, compared to a 7.9% decline in November to AMD 2.6 billion.

The average AMD/USD exchange rate in November 2025 was AMD 381.99/$1,  and AMD 387.51/$1 in January-November 2025.