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ARMENIAN INDUSTRIAL OUTPUT IN 2011 AMOUNTS TO OVER 900 BILLION DRAMS: VAZGEN SAFARIAN
/ARKA
JANUARY 13, 2012
YEREVAN
YEREVAN, January 13. /ARKA/. According to preliminary data, Armenian
industrial output in 2011 amounted to over 900 billion drams, Vazgen
Safarian, chairman of the Union of Armenian Commodity Manufacturers,
told a news conference today. He said when the figure is finalized
it will constitute 25% of Armenia's GDP last year and described it as
'unprecedented.'
According to Armenian National Statistical Service (Armstat), in the
first 11 months of past year the industrial output was 889.5. In 2010
it was 824.3 billion drams. In 2010 the industrial output, including
energy, constituted 14.8% of the overall GDP.
Vazgen Safarian also said the government-designed strategy to boost
export-oriented industries may prompt it to increase its financing
of local manufacturing companies.
The strategy commissioned by the World Bank was developed by a group
of experts with the assistance of the ministry of economy focuses on
building an advanced industrial system, which in turn is supposed to
stimulate production of high quality products meeting international
standards, to help Armenian companies win new foreign markets and
create new jobs. The strategy specifies what the government seeks to
achieve by 2020. More specifically, exports are supposed to double
by 2015 and reach $3 billion by 2020. To implement this strategy the
government will set up Industrial Council to be chaired by the prime
minister of Armenia, as well as establish sub-councils to coordinate
projects in 11 chosen sectors.
Vazgen Safarian said also Armenian embassies abroad should step up
monitoring of Armenian sales abroad.
According to official data, in the first 11 months of 2011 Armenian
exports grew by 31.1% year-on-year to $1.206.7 billion while imports
upped by 12.3% to $3.751.1 billion.
/ARKA
JANUARY 13, 2012
YEREVAN
YEREVAN, January 13. /ARKA/. According to preliminary data, Armenian
industrial output in 2011 amounted to over 900 billion drams, Vazgen
Safarian, chairman of the Union of Armenian Commodity Manufacturers,
told a news conference today. He said when the figure is finalized
it will constitute 25% of Armenia's GDP last year and described it as
'unprecedented.'
According to Armenian National Statistical Service (Armstat), in the
first 11 months of past year the industrial output was 889.5. In 2010
it was 824.3 billion drams. In 2010 the industrial output, including
energy, constituted 14.8% of the overall GDP.
Vazgen Safarian also said the government-designed strategy to boost
export-oriented industries may prompt it to increase its financing
of local manufacturing companies.
The strategy commissioned by the World Bank was developed by a group
of experts with the assistance of the ministry of economy focuses on
building an advanced industrial system, which in turn is supposed to
stimulate production of high quality products meeting international
standards, to help Armenian companies win new foreign markets and
create new jobs. The strategy specifies what the government seeks to
achieve by 2020. More specifically, exports are supposed to double
by 2015 and reach $3 billion by 2020. To implement this strategy the
government will set up Industrial Council to be chaired by the prime
minister of Armenia, as well as establish sub-councils to coordinate
projects in 11 chosen sectors.
Vazgen Safarian said also Armenian embassies abroad should step up
monitoring of Armenian sales abroad.
According to official data, in the first 11 months of 2011 Armenian
exports grew by 31.1% year-on-year to $1.206.7 billion while imports
upped by 12.3% to $3.751.1 billion.