Significant growth recorded in Armenia’s industry by end of first quarter

PanARMENIAN.Net - Armenian Prime Minister Tigran Sarsgyan said that Armenia’s Ministry of Economy conducts monitoring of certain enterprises what allows determining increase in separate fields of industry.

Summarizing the results of the first quarter, Mr. Sargsyan said that, according to updated data of the RA National Statistical Service, the growth was recorded in retail trade, while the volume of services increased by 6% by the end of the first quarter. “60% and 23% growth was recorded in export and import respectively, while the increase in export volumes is basically conditioned by its growth in the mining and raw materials’ industry, as well as by improvement of the world economy’s indexes,” the Prime Minister stated during the April 22 session of the government.

According to Mr. Sargsyan, the mining and raw materials’ industry increased by 21%, construction materials’ production – by 50%, meanwhile, the major part of the produced output was exported, securing a growth in the first quarter of 2010 as compared with the same period of last year. Good indexes were recorded in the chemical industry; they grew by 2.5 times that is conditioned also by positive indexes in medicines production. Besides, 40% growth was recorded in the fields of gold mining and diamond cutting. The machine tool industry grew by three times, while equipment production – by 15%.

Tigran Sargsyan informed that the rates of growth in the information technologies are preserved, making 3% by the end of the first quarter.

The Prime Minister added that 5% increase was recorded in tourism, while the passenger traffic also grew by 5% during the first quarter as compared with the same period of last year.

At the same time, Mr. Sargsyan noted that minor recession was recorded in light industry, wood production and electrical engineering. “A recession is still fixed in these and construction industry,” he noted.