Markets Actual Q1 Q2 Q3 Q4 2020
Currency 484.00 482 482 482 482 482
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.70 3.8 3.3 5.1 4.6 4.3
Unemployment Rate (%) 15.70 16.9 17 17.1 17.1 16.6
Inflation Rate (%) 1.80 2.9 2.7 3.1 3.4 1.9
Interest Rate (%) 6.00 5.75 5.75 5.5 5.5 5.5
Balance of Trade (USD Million) -301.20 -200 -201 -205 -212 -211
Current Account (USD Million) -251.10 -206 -136 -98.7 -275 -290
Current Account to GDP (%) -2.90 -3.8 -3.8 -3.8 -3.8 -3.9
Government Debt to GDP (%) 45.50 50.2 50.2 50.2 50.2 52.9
Government Budget (% of GDP) -5.60 -1.8 -1.8 -1.8 -1.8 -1.4
Personal Income Tax Rate (%) 36.00 36 36 36 36 36
Corporate Tax Rate (%) 20.00 20 20 20 20 20
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.70 3.8 3.3 5.1 4.6 4.3
GDP (USD Billion) 11.54 13.3 13.3 13.3 13.3 13.8
GDP Constant Prices (AMD Million) 1676535.30 1133301 1380843 1719287 1727955 1802257
Gross Fixed Capital Formation (AMD Million) 265443.30 130849 192592 272212 273584 285349
GDP per capita (USD) 4219.40 4572 4572 4572 4572 4584
GDP per capita PPP (USD) 8787.60 9400 9400 9400 9400 9700
GDP From Agriculture (AMD Million) 321044.00 54692 127763 329231 330890 345119
GDP From Construction (AMD Million) 120514.90 44929 97610 126661 126059 131479
GDP From Manufacturing (AMD Million) 169434.70 131323 147203 173755 174631 182140
GDP From Mining (AMD Million) 34919.10 41676 38542 36700 36525 38096
GDP From Public Administration (AMD Million) 52139.10 48597 58680 54798 54537 56883
GDP From Services (AMD Million) 35889.80 15820 24897 36805 36991 38581
GDP From Transport (AMD Million) 51643.10 40071 45887 52960 53227 55516
GDP From Utilities (AMD Million) 6938.00 5858 6317 7115 7151 7458
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 15.70 16.9 17 17.1 17.1 16.6
Unemployed Persons (Thousand ) 65.10 67.9 63.82 67.9 67.8 67.6
Labor Force Participation Rate (%) 64.00 60.8 61.2 62.4 62.6 61.7
Wages (AMD/Month) 168795.00 213000 215000 223000 230000 250000
Minimum Wages (AMD/Month) 55000.00 60000 60000 60000 60000 60000
Population (Million) 2.98 2.93 2.93 2.93 2.93 2.91
Retirement Age Women 63.00 63 63 63 63 63
Retirement Age Men 63.00 63 63 63 63 63
Wages In Manufacturing (AMD/Monthly) 161761.00 215000 221000 229000 235000 242000
Employed Persons (Thousand) 1211.00 870 890 915 940 975
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.80 2.9 2.7 3.1 3.4 1.9
Consumer Price Index CPI (Index Points) 128.47 133 129 129 131 133
Core Consumer Prices (Index Points) 100.19 103 101 102 103 105
Core Inflation Rate (%) 2.80 2.9 1.3 1.6 2.99 1.6
Producer Prices (Index Points) 101.60 103 107 104 106 110
Inflation Rate Mom (%) 1.50 0.5 0.8 0.28 0.2 0.7
Import Prices (Index Points) 101.00 102 102 103 102 102
Producer Prices Change (%) -0.10 4.9 4.6 4.3 4.2 3.7
Food Inflation (%) 1.60 2.3 2.5 2.6 1.3 2.4
Export Prices (Index Points) 101.30 102 105 101 102 101
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 6.00 5.75 5.75 5.5 5.5 5.5
Money Supply M0 (AMD Million) 1042413.00 1035000 1010000 990000 1040000 1060000
Money Supply M1 (AMD Million) 828422.00 810000 825000 831000 845000 870000
Money Supply M2 (AMD Million) 1483512.00 1510000 1560000 1585000 1620000 1750000
Deposit Interest Rate (%) 9.01 9.01 9.01 9.01 9.01 9.01
Lending Rate (%) 7.50 7.5 7.5 7.5 7.5 7.5
Foreign Exchange Reserves (USD Million) 2243.37 2020 2150 2170 2200 2130
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) -301.20 -200 -201 -205 -212 -211
Current Account (USD Million) -251.10 -206 -136 -98.7 -275 -290
Current Account to GDP (%) -2.90 -3.8 -3.8 -3.8 -3.8 -3.9
Exports (USD Million) 200.50 189 191 194 196 200
Imports (USD Million) 501.70 390 392 400 408 411
External Debt (USD Million) 10836.59 11300 11500 11750 12000 12800
Capital Flows (USD Million) -22.50 -251 -233 -153 -358 -335
Terms Of Trade (Index Points) 100.30 100 103 98.05 100 98.72
Tourist Arrivals (Thousand) 44595.00 46100 77400 44700 44900 46100
Remittances (USD Million) 389.50 274 350 452 530 545
Foreign Direct Investment (USD Million) 75.50 83.4 74.5 64.3 72.3 120
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 45.50 50.2 50.2 50.2 50.2 52.9
Government Budget (% of GDP) -5.60 -1.8 -1.8 -1.8 -1.8 -1.4
Government Budget Value (AMD Billion) -8866.80 -20000 -21500 -57600 -180000 -190000
Government Revenues (AMD Billion) 347513.90 270000 335000 339000 380000 390000
Government Debt (AMD Billion) 3245.60 3610 3690 3760 4100 4370
Fiscal Expenditure (AMD Million) 356380.70 290000 356500 396600 560000 580000
Government Spending (AMD Million) 203057.90 143388 177334 213414 212399 221532
Military Expenditure (USD Million) 437.45 449 449 449 449 451
Taxes Actual Q1 Q2 Q3 Q4 2020
Personal Income Tax Rate (%) 36.00 36 36 36 36 36
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 0.00 0 0 0 0 0
Social Security Rate For Companies (%) 0.00 0 0 0 0 0
Social Security Rate For Employees (%) 0.00 0 0 0 0 0
Business Actual Q1 Q2 Q3 Q4 2020
Industrial Production (%) 1.10 7.9 5.4 3.3 6.5 8.4
Industrial Production Mom (%) 11.00 0.9 1.2 1.1 2.6 4.1
Manufacturing Production (%) 11.40 8.6 9.1 6.4 3.3 8.7
Leading Economic Index (%) 3.60 7.8 4.2 2.6 11.5 12.8
Mining Production (%) -29.10 7.4 9.8 6.3 -2.9 2.4
Changes In Inventories (AMD Million) 92324.10 109000 110000 112000 114000 115000
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 5.30 7.62 8.1 8.1 3.9 5.2
Consumer Credit (AMD Million) 671306.57 615000 622000 639000 660000 710000
Consumer Spending (AMD Million) 1230382.80 900164 1064088 1261758 1268119 1322648
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) 0.20 1.8 2.3 4.7 1.7 2.5


This page has economic forecasts for Armenia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Armenia economy.