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.
