VOLUME OF INDUSTRIAL OUTPUT INCREASES BY 4.9% IN ARMENIA IN FIRST HALF
OF 2004

YEREVAN, August 6 (Noyan Tapan). GDP of Armenia made 9.2% in the first
half of 2004. RA Minister of Trade and Economic Development Karen
Chshmaritian said during the August 6 press conference that the main
share of the registered economic growth falls on the real sector. In
particular, the share of chemical industry increased 3.7-fold, the
share of the light industry increased by 75%, machine-building – by 9%
and the production of metalic ore – by 50%. During the period under
review industrial output increased by 4.9% in comparison with the same
period of last year. In particular, 28 enterprises of the ore mining
sphere turned out production of 66.1 bln drams as against 67.5 bln
drams of last year. It was also mentioned that 9,913 people, in fact,
work at the enterprises of the sphere, their average monthly salary
makes 72,000 drams (about 150 dollars). The volume of output made 63.1
bln drams in the jewelry sphere during the last six months. The
imports of natural diamonds from Russia decreased: only 70,000 carats
of natural diamonds have been imported to Armenia up to day.

The agreement was reached with the government of Russia that if
Armenia doesn’t use 15% of raw materials imported to Armenia, it will
re-export it. Only 17 enterprises out of 32 enterprises of the sphere
of light industry operated in Jan-June of this year. They turned out
output of 6 bln, 169 mln drams, which is more by 75% than last year’s
index. 40 companies of the sphere of machine-building of the republic
turned out output of 2.5 blndrams. The volume of the production of
eight enterprises of the woodworking industry made 295 mln drams in
Jan-June 2004, which is more by 22% than last year’s index.