PROCESSING INDUSTRY DEVELOPMENT TRENDS AND CHARACTERISTICS IN THE REPUBLIC OF ARMENIA

Abstract

In the conditions of complex geopolitical situations, economic declines are manifested in individual countries, the level of uncertainty increases, and the degree of dependence of national economies on changes in the prices of mineral resources increases. In recent years, the negative trends in the industry, especially in the processing industry, have become more prominent in the RA in the absence of a clear industrial policy and unreasonable definition of priorities. In the article, an analysis of the state of the RA processing industry was made, based on economic growth, employment and export indicators. The research was carried out for the last decade, for some indicators, on a five-year basis. As a result of the study of the RA industry sector, certain positive and negative tendencies and patterns have emerged. It refers to the change in production volume and export dynamics. The positive effect of the improvement of indicators after 2020 on the RA economy is noticeable, but the rate of growth of the same indicators over the decade is very moderate. Therefore, it can be noted that there have been no positive developments in the RA economy, and the share of industry in the GDP structure continues to be inferior to the trade and service sector. At the same time, the indicator of economic complexity was low based on the trends in the export of industrial goods.