2. Structure and Dynamics of Armenia’s GDP Agriculture Trade, etc. Real Estate, etc. Public admin Manufacturing Utilities Real Growth of Industry Value Added (annual average, 2002-2011) Share of GDP (2011) GDP Growth (9%) Transport and Comm. Financial intermediation ~100k employees in 2011 Mining and quarrying Hotels and restaurants Construction Education Health & social work Other Source: National Statistical Services, Republic of Armenia 15.5k employees, making it 3 rd smallest employer 2.9% of GDP, making it 3 rd smallest industry 37.5% avg annual growth rate, 2 nd fastest growing industry

3. Growth of Mining Value Added, year-to-year, 2002-2011 Average Growth (37.5%) Source: National Statistical Services, Republic of Armenia While the growth rate of mining —an average of 37.5% per year over a decade—is large, two caveats are necessary: a)The average belies a volatile industry, highly dependent on international commodity markets b)The absolute amount is small—only 2.9% of the 2011 GDP.

4. Source: National Statistical Services Number of People Employed in Mining, 2002-2011 Share of mining in total national employment (in %) Number of mining employees (in thousands) Comment on employment and wages

5. 1 2 3 4 Distribution of Mining Activity across Armenia’s Marzes, (2010) 90% in Syunik Source: National Statistical Services, Republic of Armenia

6. Source: National Statistical Services Mining’s share of all of Armenia’s exports Share of all exports (value) Share of all exports (tons) 256 thousand tons $297 million In 2011, a fifth of export revenues was from minerals For good part of the mid-2000s, mining comprised 60% of export revenues. But that share has been declining starting in 2009.

7. $12940 per ton $60 per ton $230 per ton $930 per ton $2200 per ton Exported by product type and reported value (2011) King of quantity King of value

8. ProductQuantity USD Amount Main Destination Copper ores and concentrate 118.3 k tons $260.5mlnBulgaria Spain Zink ores and concentrate 14.8 k tons$13.9 mlnSwitzerland Ore and concentrates molibdenic 860 tons$11.1mlnRepublic of Korea Netherlands METALLIC ORES, SLAG and ASH Exports : Quantities and Values (2011)

9. Precious stones and metals Exports : Quantities and Values (2011) ProductQuantity USD Amount Ferro-alloys5566.0 tons121.3 mln Unrefined copper, copper anodes, electrolytic refining 8945.4 tons114.6 mln Aluminium foil of a thickness <0.2mm 25041.1 tons86.9 mln Molybdenum and articles thereof, waste or scrap 480.0 tons15.4 mln Gold, unwrought, semimanufactured, powder 2.3 tons67.3 mln

10. GENERATION OF INCOME ACCOUNT BY ECONOMIC ACTIVITIES Resources Uses Mining and quarrying gross value added compensati on of employees other net taxes on production gross operating surplus and gross mixed income of which consumption of fixed capital net operating surplus and net mixed income 200461 949.131 972.41 549.728 427.07 026.821 400.2 200571 503.834 909.11 662.134 932.68 363.426 569.2 200668 541.133 577.32 198.032 765.88 224.924 540.9 200770 943.335 326.32 294.733 322.38 580.824 741.5 200855 490.830 149.83 384.521 956.512 871.09 085.5 200952 252.528 818.23 357.620 076.714 502.75 574.0 201089 251.244 999.73 423.740 827.816 606.624 221.2

11. GENERATION OF INCOME ACCOUNT BY ECONOMIC ACTIVITIES

12. Income structure in mining production by Generetion of income account