Armenia


Armenia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Armenia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Armenia
International ReservesUS$ 1.955 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 9.859 billion (2010 estimate)
GDP (Purchasing Power Parity)17.827 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
5.9%9.6%13.2%14%10.5%13.9%13.2%13.7%
2008200920102011*
6.9%-14.2%2.6%4.6%

*Estimate

GDP per capita - current pricesUS$ 2,959 (2010 estimate)
GDP per capita - PPP$5,350 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
N/AN/A0.02%0.02%0.02%

**Forecast

GDP - composition by sector
  • agriculture: 22.5% 
  • industry: 43.5% 
  • services: 34.1% (2009 estimate)

    • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
9%(2008)3.5%8.2%9.3%

*Estimate

Unemployment rate
2008200920102011*
6.3%6.8%7%(2009)7%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
16.1%16.2%40.6%39.4%45.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-2.3%-1.8%-7.8%-4.8%-3.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: N/A

Moody's rating: Ba2

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$105 millionUS$176 millionUS$141 million
Largest companies in ArmeniaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -1.2 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-12.4% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

12% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.02%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$846 million f.o.b. (2010 estimate)
Export commoditiespig iron, unwrought copper, nonferrous metals, diamonds, mineral products, foodstuffs, energy
Total importsUS$3.546 billion f.o.b. (2008 estimate)
Import commoditiesnatural gas, petroleum, tobacco products, foodstuffs, diamonds
Exports - major partnersRussia 17.5%, Germany 14.7%, Netherlands 13.5%, Belgium 8.7%, Georgia 7.6%, US 6.6%, Switzerland 4.3%, Bulgaria 4.1%, Ukraine 4% (2007)
Imports - major partnersRussia 15.1%, Ukraine 7.7%, Kazakhstan 7.4%, Germany 6.8%, China 6%, France 4.6%, US 4.5%, Iraq 4.3% (2007)
FDI inflows
200820092010
US$935 millionUS$778 million(2009)US$577 million(2009)
FDI outflows
200820092010
US$10 millionUS$53 millionUS$8 million
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 48 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 22 out of 183 countries(2009)

Registering property: 5 out of 183 countries

Paying Taxes: 159 out of 183 countries

Getting credit: 46 out of 183 countries

Protecting investors: 93 out of 183 countries

Trading across border: 82 out of 183 countries

Enforcing Contracts: 63 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		92

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 36 Score: 69.7 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+4
Total area 29,743 km2 (2006)
CapitalYerevan (2009)
Currencydrams (AMD) (2009)
Government typerepublic (2009)
LanguagesArmenian 97.7%, Yezidi 1%, Russian 0.9%, other 0.4% (2001 census)
ReligionsArmenian Apostolic 94.7%, other Christian 4%, Yezidi (monotheist with elements of nature worship) 1.3%
Total population
1980199020002010*2015**
N/AN/A3.22 million3.3 million3.47 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
51.3%66%65.1%63.8%
Population median age32.0 years (2006)
Population growth rate0.2% (2009)
Life expectancy72 years (2007)
Adult literacy100% (2000/2007)
% of population living on less than $2 a day12.43% (2011)
Inequality of wealth distribution (Gini index)

30.9 (2008)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:6
Civil Liberties:4 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

144.09% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population37% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Yerevan: 167th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.803 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:
  • COUNTRY WINNERS Converse Bank (National, 2010)
2009:
  • COUNTRY WINNERS Converse Bank (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2011:
  • COUNTRY WINNERS HSBC Bank Armenia (National, 2011)
2010:
  • COUNTRY WINNERS HSBC Bank Armenia (National, 2010)
2009:
  • COUNTRY WINNERS HSBC Armenia (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS Prometey Bank (National, 2011)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011:
  • COUNTRY WINNERS Ameriabank (National, 2011)
  • COUNTRY WINNERS HSBC Bank Armenia (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE