Armenia - Industry

Industry in Armenia has traditionally been based on mining and the manufacture of goods such as textiles, electric motors, tires, chemicals, trucks, machine tools, and some consumer appliances (mainly washing machines). The contribution of industry to the economy fell from 46.5 percent in 1991 to 25 percent in 1999. In 1999 alone, industrial production declined by 2 percent. This decline has been the result of a lack of new investment (because of political uncertainty) and because many of the industrial markets in the former Soviet Union closed due to lack of demand.