Armenian Manufacturers Union head forecasts 25% industry share in GDP

PanARMENIAN.Net - Industry share in GDP comprised 23,5% in 2010, providing higher indices as compared with other economy sectors, according to the head of the Union of Manufacturers and Businessmen (Employers) of Armenia.

At news conference in Yerevan, Vazgen Safaryan gave favorable forecast for 2012 industry share (25%). “Armenian Economy Ministry has worked out an export-oriented concept of industry development to be publicized soon. However, it would be highly desirable if the government worked out a similar concept for the whole industry sector, to regulate basic functions of Armenian economy,” Safaryan noted.

As of August 2011, the index of economic activity in Armenia increased by 9.6% against August 2010, according to the Armenian National Statistical Service.

The volume of industrial production made AMD 82bln 241.8mln as of August 2011, having increased by 12.5% against August 2010. The trade turnover grew by 6.9% (AMD 179bln 116.9mln) in July, and the volume of services – by 4.2% (AMD 78bln 817.1mln).

21.3% growth (AMD 130 bln 609.3mln) was registered in agriculture as compared to the same period of 2010, and decrease by 24.7% was registered in construction sphere (AMD 41bln 455.9mln).