Armenia, Bulgaria Race To Sell Bonds -- Update

Some of the world's riskiest sovereign borrowers are rushing to sell bonds, taking advantage of the still rampant search for yield amid an era of record low global interest rates. Junk-rated Armenia is seeking to issue a 10-year dollar bond for only the second time on record, with bankers working on the $500 million deal suggesting a yield in the area of 7.625%.

 
 
Source
Central bank

Central Bank of Armenia

International Reserves

US$ 2.252 billion (Source: World Bank; Data updated: 2013)

Gross Domestic Product - GDP

US$ 11 billion (2015 estimate)

GDP (Purchasing Power Parity)

26 billion of International dollars (2015 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
14% 10.5% 14.1% 13.2% 13.7% 6.9% -14.2 2.2%
2011 2012 2013 2014* 2015*      
4.7% 7.1% 3.5% 3.2% 3.5%      

*Estimate

GDP per capita - current prices

US$ 3,475 (2015 estimate)

GDP per capita - PPP

7,748 International Dollars (2015 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2015*
N/A N/A 0.01% 0.02% 0.02%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 20.6%
  • industry: 37.3%
  • services: 42.1% (2013 estimate)
Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2011 2012 2013 2014* 2015*
7.7% 2.5% 5.8% 1.8%

3.8%

*Estimate

Unemployment rate
2011 2012 2013 2014* 2015*
19.0% 19.0% 18.5% 18.0%

17.9%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014* 2015*
33.7% 35.7% 38.9% 41.4% 41.5%

42.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2014* 2015*
-5.0% -2.9% -1.6% -1.7% -1.7%

-2.0%

*Estimate   

Government bond ratings

Standard & Poor's: N/A

Moody's rating: Ba2

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2010* 2011 2012**
US$144.8 million US$139.6 million US$132.1 million

*2010 Estimate     **2012 Estimate  

Largest companies in Armenia

N/A

 
 
Source
Current account balance

US$ -802 million (2014 estimate)

Current account balance by percentage of GDP

-7.152% of GDP (2014 estimate)

Exports as percent of GDP(Exports of goods and services)

27% (2013)

(Data released on Oct 2014)

Shares in world total merchandising export

0.01% (2012)

(Data were released in March 2014)

Shares in world total commercial services export

0.02% (2012)

(Data were released in 2014)

Total exports

US$1.653 billion (2013 estimate) 

Export commodities

pig iron, unwrought copper, nonferrous metals, diamonds, mineral products, foodstuffs, energy

Total imports

US$3.459 billion (2013 estimate) 

 
 
Source
Import commodities

natural gas, petroleum, tobacco products, foodstuffs, diamonds

Exports - major partners

Russia 19.6%, Germany 10.7%, Bulgaria 9.1%, Belgium 8.9%, Iran 6.9%, US 6.1%, Canada 6%, Georgia 5.7%, Netherlands 5.6%, Switzerland 5% (2012)

Imports - major partners

Russia 20%, Germany 11%, Bulgaria 9%, Belgium 9%, Iran 6.5%, US 6.1%, Canada 5.9%, Netherlands 5.6%, Georgia 5.6%, Switzerland 5.2% (2012 est.)

FDI inflows
2011 2012 2013
US$ 515 million US$ 489 million US$ 370 million
FDI outflows
2011 2012 2013  
US$ 78 million US$ 16 million US$ 16 million  
Value of cross-border M&A;, by country of purchaser
2010 2011 2012 2013
0 0 0 0
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

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

Cross-border M&A; deals worth over $3 billion completed in 2011(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(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 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 37 out of 189 countries (2013)

Subcategories:

Starting a business: 6 out of 189 countries

Enforcing Contracts: 112 out of 189 countries

Registering Property: 5 out of 189 countries

Getting credit: 42 out of 189 countries

Protecting investors: 22 out of 189 countries

Trading across border: 117 out of 189 countries

Paying Taxes: 103 out of 189 countries

Dealing with Construction Permits: 79 out of 189 countries

Getting Electricity: 109 out of 189 countries

Resolving Insolvency: 76 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

85

(2014-2015)

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 41 Score: 68.9 (Moderately Free) (2014)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+4

Total area

29,743 sq km

Capital

Yerevan

Currency

drams (AMD)

Government type

republic

Languages

Armenian (official) 97.9%, Kurdish (spoken by Yezidi minority) 1%, other 1% (2011 est.)

Religions

Armenian Apostolic 92.6%, Evangelical 1%, other 2.4%, none 1.1%, unspecified 2.9% (2011 est.)

Total population
1990 2000 2010 2014* 2019**
N/A 3.221 million 3.263 million 3.294 million 3.327 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
51.3% 66% 65% 63%
Population median age

33.7 years  (2014 est.)

Population growth rate

-0.13% (2014 est.)

Life expectancy

74.12 years (2014 est.)

Adult literacy

99.6% (2011 estimate)

% of population living on less than $2 a day

15.5% (2012)

Inequality of wealth distribution (Gini index)

30.3 (2012)
(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 5
Civil Liberties: 4 (2014)

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

Total telephone subscribers as % of population

Fixed 19.4%   Mobile 112.4%
(2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

46.30% (2013)

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

Yerevan 187th (2014)

CO2 emissions(Metric tons of CO2 per capita)

1.4 (2010)

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