Tuesday, October 5 2021 18:25

ArmInfo. The volume of industrial production in Armenia in January-August 2021 amounted to 1.4 trillion drams ($ 2.7 billion), having increased on a y-o-y terms  by 1% alone, repeating the dynamics of the same period in 2020  (0.9%), while significantly yielding to the pre-COVID 9.5% growth. 

The slowdown in industrial growth was due to the sagging volumes of  the dominant segment - the manufacturing industry, and a sharp  slowdown in the growth of the mining industry. In August 2021 alone,  the growth in the industrial sector was also stagnant - 0.6% to 190  billion drams ($ 386.4 million).

According to the Statistical Committee of the Republic of Armenia, in  January-August 2021, the mining industry slowed down the y-o-y growth  from 17.3% to 3.3%, providing the volume of 393.1 billion drams.   Moreover, in August alone, the mining industry reduced its volumes by  4.4% to 45.4 billion drams.

The volume of the manufacturing industry delayed the decline with a  slowdown in y-o-y rates from 3.2% to 1.2%, amounting to 826.7 billion  drams in January-August. At the same time, in August alone, the  dynamics turned out to be upward - 4.3% with the provision of 121  billion drams.

In particular, in January-August 2021 in the manufacturing industry,  a decline in volumes was recorded in the production of jewelry (by  40.5%), finished metal products (by 44.9%), basic metals (by 24.5%),  chemical products (by 22.5%), cigarettes (14.6%), printing (6.9%),  pharmaceuticals (1.7%) and furniture production (1%).

A significant growth was recorded in the production of textiles (2.5  times), machinery and equipment (71.9%), clothing (26.2%), other  non-metallic products (25.2%), rubber and plastic products (by  20.6%), beverages (by 20.2%), electrical equipment (by 11.2%).

In the manufacturing industry, food products (291.6 billion drams),  beverages (119.4 billion), basic metals (107.3 billion), and  cigarettes (84.6 billion) are traditionally leading in terms of  production.

According to statistics, the supply of electricity, gas, steam and  conditioned air as a whole in January- August 2021 to the same period  of 2020 increased by 1.1% (repeating last year's dynamics), amounting  to 180.6 billion drams. Moreover, generation, transmission and  distribution of electricity in January-August increased by 7.3% per  annum, while gas production, distribution of gaseous fuel through gas  supply systems increased by 9.2%.

Revenues from water supply, waste treatment and processing and  production of secondary raw materials in January-August increased by  7.2% per annum (against 7.3% decline a year earlier), amounting to  15.2 billion drams. Moreover, the growth in this segment was mainly  due to the collection, treatment and distribution of water (y-o-y  growth of 7.7%).

To note, the average settlement rate of the dram was 514.38 AMD / $ 1  in January-August 2021, and only in August - 491.73 AMD / $ 1.