Armenian industrial production shrinks 11.5% in H1

Interfax, Russia
July 31 2009

Armenian industrial production shrinks 11.5% in H1

YEREVAN July 31

Industrial production in Armenia contracted 11.5% to 281.5 billion
dram ($808.8 million) in current prices in the first half of 2009
compared to the same period of 2008, the National Statistics Service
said in a report.

Production in the mining industry declined 9.3% to 28.8 billion dram
in the half. The manufacturing industry saw output fall 12.6% to 189.5
billion dram. The utilities industry (electricity, water, gas)
declined 8.9% to 63.2 billion dram.

Exports of industrial products to the CIS totaled about 19.1 billion
dram in the period.

The official exchange rate on July 31 was 369.98 dram/$1.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS