Armenia records significant growth in process manufacturing, but decline in mining

YEREVAN, FEBRUARY 10, ARMENPRESS. Process manufacturing grew and comprised 12% in the GDP structure in 2022, Armenian Minister of Economy Vahan Kerobyan told lawmakers during debates of proposed amendments in the law on Industrial Policy.

“In 2022 process manufacturing grew significantly in Armenia and the volume of output increased 13,5%, totaling 1,8 trillion drams, but mining declined a bit,” Kerobyan said.

Kerobyan said the government program includes the goal to bring process manufacturing’s role in the GDP to 15%. “We are now around 12%. I think this kind of a significant growth is a good step on the path of reaching our goal,” the minister said.