In Armenia, the industrial production volume for January-February 2024 increased to 461 billion drams (over $1.1 billion), exceeding the figure for the same period in 2023 by 28.9%.
According to the Statistical Committee of Armenia, in February, the industrial production volume reached 255 billion drams (over $550 million), equivalent to a growth of 36.4% compared to February of the previous year.
Production in the mining industry for the first two months of this year amounted to 70 billion drams (about $180 million), a decrease of 3.1% compared to the same period in 2023, while in the manufacturing industry it reached 318 billion drams (about $850 million), marking a growth of 47%.
The sector encompassing the supply of electricity, gas, steam, and purified air increased by 8.7%, reaching nearly 70 billion drams (about $180 million), while the volume of water supply, sewage, waste management, and recycling industry grew by 7% to 4.7 billion drams (about $12 million).
The lion's share of the industrial production structure for the two months falls on the manufacturing industry, accounting for 68.9%.
Meanwhile, the mining industry and work in open-pit mining, which previously played a key role in Armenia's economy, now represent only 15.2% of the total industrial production volume.
