Source
Central bank

Central Bank of Armenia

International Reserves

USD 2.2 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 12.4 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 30.4 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
13.7% 6.9% -14.2% 2.2% 4.7% 7.1% 3.3%
2014 2015 2016 2017* 2018*    
3.6% 3.3% 0.3% 7.5% 5%    

*Estimate

GDP per capita - current prices

USD 4,149.3 (2018, estimate)

GDP per capita - PPP

Intl$ 10,176.1 (2018, estimate)

GDP (PPP) - share of world total
0.02% (2019, estimate)
 
 
Source
GDP - composition by sector
  • agriculture: 13.7%
  • industry: 25%
  • services: 52.6%

(2018 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2015 2016 2017 2018* 2019*
3.7% -1.4% 1% 2.5% 1.7%

*Estimate

Unemployment rate
2015 2016 2017 2018* 2019*
18.5% 20.3% 18.7% 18.2% 17.7%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
44.1% 51.9% 53.7% 51.3% 50%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
-4.8% -5.6% -4.8% -1.8% -1.5%

*Estimate   

Government bond ratings

Standard & Poor's: N/A

Moody's: Ba3

Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -1.2 billion (2018 estimate)

Current account balance by percentage of GDP

-9.4 % (2018 estimate)

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

37.5% (2018)

Shares in world total merchandising export

0.01% (2018)

Shares in world total commercial services export

0.03% (2018)

Total exports

USD 4.5 billion (2018)

Export commodities

Unwrought copper, pig iron, nonferrous metals, gold, diamonds, mineral products, foodstuffs, brandy, cigarettes, energy

Total imports

USD 6.5 billion (2018 estimate)

 
 
Source
Import commodities

Natural gas, petroleum, tobacco products, foodstuffs, diamonds, pharmaceuticals, cars

Exports - major partners

Russia 24.2%, Bulgaria 12.8%, Switzerland 12%, Georgia 6.9%, Germany 5.9%, China 5.5%, Iraq 5.4%, UAE 4.6%, Netherlands 4.1% (2017)

Imports - major partners

Russia 28%, China 11.5%, Turkey 5.5%, Germany 4.9%, Iran 4.3% (2017)

FDI inflows
2016 2017 2018
USD 338 million USD 250 million USD 254 million
FDI outflows
2016 2017 2018
USD 66 million USD 22 million USD -12 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
USD 0.1 million N/A N/A N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

47 out of 190 countries

​Subcategories:
Starting a Business: 10 out of 190 countries
Dealing with Construction Permits: 62 out of 190 countries
Getting Electricity: 30 out of 190 countries
Registering Property: 13 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 120 out of 190 countries
Paying Taxes: 52 out of 190 countries
Trading across Borders: 43 out of 190 countries
Enforcing Contracts: 30 out of 190 countries
Resolving Insolvency: 95 out of 190 countries

Global competitiveness ranking

69 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 47 / Score: 67.7 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+4

Total area

29,743 sq km

Capital

Yerevan

Currency

Drams (AMD)

Government type

Parliamentary democracy; note - constitutional changes adopted in December 2015 transformed the government to a parliamentary system

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 2015* 2020*
N/A 3.08 million 2.96 million 2.99 million 2.97 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
51.3% 66.1% 64.7% 63.1%
Population median age

35.6 years

Population growth rate

-0.25% (2018 estimate)

Life expectancy

75.1 years (2018 estimate)

Literacy

Total population: 99.7% 
Male: 99.7% 
Female: 99.6%
Definition: age 15 and over can read and write (2015 est.)

% of population living on less than $3.10 a day

12.3% (last available estimate, 2017)

Inequality of wealth distribution (Gini index)

33.6 (last available estimate, 2017)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Partly Free
Political Rights: 4
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 16.1% Mobile: 121.3% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

64.74 % (2017)

Mercer Cost of living index

Yerevan: 197th (2019)

CO2 emissions

1.9 metric tons per capita (2014)

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