YEREVAN. – According to the official data, the domestic industry of Armenia is “prospering.” Pursuant to the preliminary data, the rise in the physical volume of industrial production came closer to a double figure – 9,7% at an annual rate. Of course, this indicator constituted “modest” 4,4% for January-August. But in the current conditions, even that number can be considered an apparent achievement.
The Eurasian Economic Union (EAEU) partners of Armenia are far from doing well in this sphere. Thus, the physical volume of industrial production in Russia, Belarus and Kazakhstan has reduced by 3,2%, 7,1% and 0,6% respectively.
In January-July, the total volume of Armenia’s industrial production increased by 4,1% at an annual rate. This was mainly brought along by a significant growth of metallic ore extraction (35,3%). Consequently, the share of this sector in the total amount of industrial production of the republic grew by 1,9 percentage points, reaching 7,4%.
Together with this, the monthly dynamics of foreign trade is characterized by significant instability. Consequently, export of goods in January-August increased by 0,5%, while the import decreased by 26,3%.