Armenia: Economy

Economic Trivia

The agriculture sector accounts for more than 40% of employment.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2014): Russia, China, and Germany
Top 3 Exported Goods (2014): Ores, Precious Stones & Metals, and Beverages

Top Industries Source: CIA World Factbook

Diamond-Processing; Metal-Cutting Machine Tools; Forging-Pressing Machines; Electric Motors

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $24,258,831,576 (2014)
GDP Growth Rate (annual %) 3.5% (2014)
GDP Per Capita, PPP (current international) $8,070 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 131/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 2.981% (2014)
External debt stocks, total (DOD, current US$) $8,677,452,000 (2013)
Total tax rate (% of commercial profits) 19.9% (2015)
Real Interest Rate (5 year average %) 13.638% (2014)
Manufacturing, value added (% of GDP) 10.755% (2014)
Current Account Balance (BoP, current US$) ($849,083,843) (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 1,559,971 (2014)
Employment in Agriculture (% of total employment) 36.3% (2013)
Employment in Industry (% of total employment) 17% (2013)
Employment in Services (% of total employment) 46.7% (2013)
Unemployment Rate 17.1% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $5,461,874,621 (2014)
Exports of goods and services (current US$) $3,316,273,474 (2014)
Total Merchandise Trade (% of GDP) 50.847% (2014)
FDI, net inflows (BoP, current US$) $404,344,951 (2014)
Commercial Service Exports (current US$) $1,594,478,498 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Armenia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary