While the Armenian government continually boasts that the country’s industrial output grew by 5% in 2015, the press and professional pundits have, in contrast, factually proven that the uptick was mainly the result of a 50.4% increase in mining production and that industrial output has actually decreased in all other sectors of the economy.
When we approach the issue of industrial growth or stagnation not from an overall national perspective, but rather looking at the issue in terms of Yerevan and the other 10 provinces, it’s clear that the picture is bleak indeed.
This series will start to look at industrial output in Yerevan from 2005 to 2015, a period which includes the 2008 international financial crisis and the periods before and after.
The data we have used comes from the National Statistical Service and other publications. Hetq has also spoken to experts in the field for their input.
Yerevan – Armenia's Economic Heavyweight
In 2015, Yerevan accounted for 40% of the country’s industrial output.
Yerevan: Industrial Output in Relative Prices (Billions AMD)
2005 – 307.7 billion AMD
2006 - 287.5 b
2007 – 347.4 b
2008 – 362.5 b
2009 – 302.6 b
2010 – 354.5 b
2011 – 423.4b
2012 – 240.1b
2013 – 507.5 b
2014 – 543.9b
2015 – 538.4b
In 2015, manufacturing accounted for 80.6% of all industrial output in Yerevan. Four sectors stand out – foodstuffs (35.4%), beverages (11.6%), tobacco products 13%), and primary metals (17%).
Together, these four sectors accounted for 77% of all manufacturing in Yerevan last year.
The picture has basically remained the same for the past ten years in Yerevan.