Sectorial Brochure Agri-Food Sector of Armenia/BA - Page 6

MANUFACTURING Labor cost HOURLY COMPENSATION COSTS IN THE MANUFACTURING INDUSTRY IN 2016 ARMENIA COMPARED WITH THOSE OF TOP FOOD AND BEVERAGES EXPORTERS Belgium 47.3$ Germany 43.2$ USA 39$ France 37.7$ 34.6$ Netherlands Italy 32.5$ Spain 23.4$ 8$ Brazil 4.5$ China Armenia 2$ Average 30$ Source: The Conference Board & National Bureaus of Statistics Favorable conditions for production £ Armenia gets around 307 sunny days (2500 hours of sunshine) per year £ There are highly fertile and diverse types of soils 3 £ Armenia’s water resources are 4 million m annually £ A unique combination of excellent climate conditions and a ordable and skilled labor force in agriculture and food production £ Production and processing of beverages in Armenia is rooted in rich history and a long-established tradition ELECTRICITY PRICE IN US CENTS/KWH IN 2017 ARMENIA COMPARED WITH THOSE OF TOP FOOD AND BEVERAGES EXPORTERS USA 26.6 Germany 25 Italy 20.2 Spain 19.1 Belgium 16.7 France 13.6 Brazil 14.2 China 12.7 Indonesia 11.1 Netherlands 10.8 Armenia Average 17 8 Source: Doing Business Database 5