Yerevan/Mediamax/. Minister of Economy Tigran Davtyan stated today that Armenia’s economic structure underwent a substantial change in 2011.

The Minister said that the share of the industry within the GDP structure increased from 14% up to 20-21% and out of the fields of economy, decline was registered only in the construction sphere, Mediamax reports.

According to the Minister, the industry registered a dynamic 13.5-14% growth and the gross volume of industrial production made about AMD 900 000bln in 2011.

“Economic activity index will make 5.5% as of the results of the year. GDP is expected to grow by about 4.6%”, said the Minister.

Tigran Davtyan also underlined export growth by 34.6% in January-November of 2011 and said it substantially exceeds the rates of import growth.

According to the Minister, there was considerable progress in the sphere of attracting investments in 2011 – the total volume grew by 24.2% (USD 586.7mln) in January-September and the volume of direct investments – by 32.6% (USD 462.5mln).