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Armenia

Headline economic indicators for Armenia, with the most recent official readings.

Prices

Prices — Armenia
Indicator Value Change
Inflation rate · 3.3% +3.04 (+1,127.0%)
Consumer price index · 160.8 +5.15 (+3.3%)
GDP deflator inflation · 3.6% +2.17 (+154.8%)

GDP

GDP — Armenia
Indicator Value Change
GDP growth rate · 7.2% +1.30 (+22.0%)
GDP per capita · 9,474.02 +917.80 (+10.7%)
GDP per capita, long-run history · 13,838 +1,595 (+13.0%)
GDP · 29,243,452,882.35 +3,288,177,502 (+12.7%)
GDP, PPP · 76,408,825,662 +7,074,163,441 (+10.2%)
GDP per capita, PPP · 24,754 +1,898 (+8.3%)
GDP per capita growth · 5.4% +1.87 (+53.6%)
GNI per capita · 9,020 +1,210 (+15.5%)
Agriculture to GDP · 7.9% +0.13 (+1.6%)
Industry to GDP · 23.1% +0.21 (+0.9%)
Manufacturing to GDP · 11.0% +0.83 (+8.2%)
Services to GDP · 61.3% -0.65 (-1.1%)
Household consumption to GDP · 71.1% +2.79 (+4.1%)
Gross capital formation to GDP · 24.2% +0.38 (+1.6%)
Gross savings to GDP · 17.5% -2.27 (-11.5%)

Labour

Labour — Armenia
Indicator Value Change
Unemployment rate · 12.9% +0.47 (+3.8%)
Labour force participation rate · 59.4% -0.53 (-0.9%)
Female labour force participation rate · 51.1% -0.53 (-1.0%)
Youth unemployment rate · 26.2% -0.41 (-1.6%)
Employment to population ratio · 51.7% -0.74 (-1.4%)
Employment in agriculture · 27.0% -0.51 (-1.9%)
Employment in industry · 21.3% +0.40 (+1.9%)
Employment in services · 51.7% +0.11 (+0.2%)

Money

Money — Armenia
Indicator Value Change
Real interest rate · 9.9% -1.73 (-14.9%)
Broad money to GDP · 61.3% +3.51 (+6.1%)
Private sector credit to GDP · 70.5% +6.16 (+9.6%)
Lending rate · 13.8% +0.63 (+4.8%)
Bank deposit rate · 8.0% -0.12 (-1.5%)
Stock market capitalization to GDP · 18.7% +17.52 (+1,513.5%)
Bank nonperforming loans · 1.1% -1.02 (-47.6%)
Official exchange rate · 387.01 -5.72 (-1.5%)

Trade

Trade — Armenia
Indicator Value Change
Current account to GDP · -8.7% -2.51 (-40.3%)
Exports to GDP · 48.1% -25.53 (-34.7%)
Imports to GDP · 53.6% -22.83 (-29.9%)
Trade to GDP · 101.7% -48.36 (-32.2%)
Exports of goods and services · 14,065,779,954.01 -5,043,883,428 (-26.4%)
Imports of goods and services · 15,676,547,634.43 -4,163,502,018 (-21.0%)
Trade balance, goods and services (annual) · -2,055,448,833.9 -796,147,223 (-63.2%)
Current account balance (annual) · -2,553,648,851.63 -938,445,768 (-58.1%)
Foreign direct investment to GDP · 2.4% +1.99 (+467.6%)
Remittances received to GDP · 5.4% -0.01 (-0.2%)
Total reserves, including gold · 5,088,260,146.3 +1,403,040,003 (+38.1%)
Reserves in months of imports · 3.3 +1.31 (+65.3%)
External debt to GNI · 66.0% -1.60 (-2.4%)

Government

Government — Armenia
Indicator Value Change
Government debt to GDP · 47.9% -0.17 (-0.4%)
Government revenue to GDP · 24.1% +0.27 (+1.1%)
Government expense to GDP · 20.9% -0.22 (-1.0%)
Tax revenue to GDP · 22.4% -0.02 (-0.1%)
Government budget balance to GDP · -3.6% -1.73 (-91.4%)
Government consumption to GDP · 10.2% -0.47 (-4.4%)
Education spending to GDP · 2.4% -0.05 (-2.1%)
Health spending to GDP · 9.3% -0.64 (-6.4%)

Demography

Demography — Armenia
Indicator Value Change
Population · 3,086,700 +53,200 (+1.8%)
Population, long-run history · 2,871 -10.84 (-0.4%)
Population growth · 1.7% -0.57 (-24.7%)
Life expectancy · 78.3 +0.85 (+1.1%)
Fertility rate · 1.70 -0.20 (-10.5%)
Birth rate · 11.1 -1.20 (-9.8%)
Death rate · 8.4 +0.20 (+2.4%)
Urban population share · 65.9% +0.12 (+0.2%)
Population aged 65 and over · 14.4% +0.74 (+5.4%)
Under-five mortality rate · 9.6 -0.40 (-4.0%)
Population density · 107.6 +2.45 (+2.3%)
Net migration · -29,013 +953.00 (+3.2%)
Gini index · 27.4 +0.20 (+0.7%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Armenia; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.