Armenia's manufacturing sector grows by 23.6% in January-July 2024

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YEREVAN, September 6. /ARKA/. Armenia’s manufacturing sector saw a substantial 23.6% growth in the first seven months of 2024, with production volumes reaching 1,154,034.1 million drams, according to the National Statistical Committee. However, the monthly figure for July showed a more modest rise of 2.5% year-on-year to 153,446.0 million drams, while there was a slight decline of 3.1% compared to June 2024./pp

Key contributors to the sector include basic metals, which account for 27.9% of total manufacturing output. This segment recorded a remarkable 3.6-fold increase in production, amounting to 322,387.4 million drams./pp

Food production, the second-largest contributor, represents 25.4% of the total but experienced a 2.1% decrease, with an output of 292,681.2 million drams. Beverage production followed with a 10.4% share, though it fell by 1.1% to 120,112.3 million drams./pp

Other notable industries include non-metallic mineral products (9% share, down by 8%), tobacco products (8.4% share, up by 8.4%), and rubber and plastic products (2.2% share, up by 9%)./pp

While several industries showed growth, such as electric equipment production (up by 60.9%) and furniture (up by 38.7%), others faced declines, including chemical products (down by 16.1%) and machinery (down by 34%)./p br br