Armenia is showing steady industrial growth, according to the latest data from the National Statistical Committee of the country.
From January to August 2024, the total volume of industrial production in Armenia reached an impressive 1.877 trillion drams, equivalent to approximately $4.85 billion USD. This figure represents a 13.7% increase compared to the same period last year.
August 2024 was particularly noteworthy, with industrial production amounting to 241.7 billion drams (around $625 million USD). This is 2.1% higher than in August 2023 and 7.5% above the figures for July 2024.
An analysis of various industrial sectors reveals divergent trends. Manufacturing, which accounts for the largest share of production—70.3%—saw a 20.7% increase, reaching a volume of 1.3 trillion drams (around $3.41 billion USD).
Meanwhile, the mining and quarrying sector, which constitutes 16.5% of total industrial output, experienced an 8.1% decline. Production in this sector totaled 310 billion drams (approximately $801 million USD).
The energy sector, which includes electricity, gas, steam, and purified air supply, showed an 11.7% growth, with a production volume of 227.4 billion drams (about $588 million USD).
Water supply, sewage, waste management, and remediation activities, while representing the smallest share of industrial production (1.1%), also saw positive growth of 5.5%. The production volume in this sector reached 20.8 billion drams (around $54 million USD).
