Armenia's manufacturing industry becomes leading contributor to GDP growthr
06.05.2020,
15:21
Armenia's manufacturing industry has become the leading economic sector, Prime Minister Nikol Pashinyan said on Wednesday, when reporting to the parliament on the execution of his government's 2019 program.
YEREVAN, May 6. /ARKA/. Armenia's manufacturing industry has become the leading economic sector, Prime Minister Nikol Pashinyan said on Wednesday, when reporting to the parliament on the execution of his government's 2019 program.
He said in 2019, economic growth was accompanied by an improvement in the structure of the economy, low inflation, and stable financial performance.
'Most importantly, the manufacturing industry saw a 12% growth in 2019. For the first time since 2008, manufacturing, excluding mining, has become the leading contributor to GDP," he said.
Pashinyan noted that the largest growth was recorded in the housing and catering sectors. Compared with 2018, they grew by 27.2%, and the number of tourists visiting Armenia increased by 14.7%.
In 2019, the export of goods and services from Armenia increased by 10.3%, a significant increase was recorded in exports of brandy - 29.4%, fruit wines - 70.2%, grape wines - 25.3% and plant products - 14.3%.
Pashinyan recalled also that the high-tech industry's turnover grew by 30%, which includes computer programming, as well as electronics, microelectronics and other high-tech areas. At the same time, he noted that exports of medium-tech products grew by 26.9%, and exports of high-tech goods by 13.3%. -0-
He said in 2019, economic growth was accompanied by an improvement in the structure of the economy, low inflation, and stable financial performance.
'Most importantly, the manufacturing industry saw a 12% growth in 2019. For the first time since 2008, manufacturing, excluding mining, has become the leading contributor to GDP," he said.
Pashinyan noted that the largest growth was recorded in the housing and catering sectors. Compared with 2018, they grew by 27.2%, and the number of tourists visiting Armenia increased by 14.7%.
In 2019, the export of goods and services from Armenia increased by 10.3%, a significant increase was recorded in exports of brandy - 29.4%, fruit wines - 70.2%, grape wines - 25.3% and plant products - 14.3%.
Pashinyan recalled also that the high-tech industry's turnover grew by 30%, which includes computer programming, as well as electronics, microelectronics and other high-tech areas. At the same time, he noted that exports of medium-tech products grew by 26.9%, and exports of high-tech goods by 13.3%. -0-
