Markets Actual Q1 Q2 Q3 Q4 2020
Currency 477.85 478 478 478 478 478
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 7.90 4.8 5 4.4 4.8 4.4
Unemployment Rate (%) 17.70 17.7 16.9 17.5 17.5 17.5
Inflation Rate (%) 0.70 2.5 2.7 2.3 3.1 3.5
Interest Rate (%) 5.50 5.5 5.5 5.5 5.5 5.5
Balance of Trade (USD Million) -300.20 -212 -176 -176 -211 -211
Current Account (USD Million) -243.12 -250 -225 -225 -300 -250
Current Account to GDP (%) -6.60 -7.5 -7.5 -7.5 -7.5 -7.1
Government Debt to GDP (%) 48.49 48.2 48.2 48.2 48.2 48.4
Government Budget (% of GDP) -1.80 -2 -2 -2 -2 -1.9
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 (%) 7.90 4.8 5 4.4 4.8 4.4
GDP (USD Billion) 12.43 13.8 13.8 13.8 13.8 14.4
GDP Constant Prices (AMD Million) 1823763.30 1275190 1524354 1863886 1882124 1964937
Gross Fixed Capital Formation (AMD Million) 275607.40 146565 198691 281671 284427 296942
GDP per capita (USD) 4406.70 4591 4591 4591 4591 4726
GDP per capita PPP (USD) 9177.70 9700 9700 9700 9700 9700
GDP From Agriculture (AMD Million) 339988.80 59754 124978 347469 350868 366307
GDP From Construction (AMD Million) 120807.80 46802 93807 123466 124674 130159
GDP From Manufacturing (AMD Million) 203543.00 150468 176084 208021 210056 219299
GDP From Mining (AMD Million) 57704.60 43969 52305 58974 59551 62171
GDP From Public Administration (AMD Million) 70264.50 48827 63744 71810 72513 75704
GDP From Services (AMD Million) 46695.50 19745 34758 47723 48190 50310
GDP From Transport (AMD Million) 57396.60 41549 48652 58659 59233 61840
GDP From Utilities (AMD Million) 6619.10 6416 7405 6765 6831 7131
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 17.70 17.7 16.9 17.5 17.5 17.5
Unemployed Persons (Thousand ) 62.20 67.8 67.8 67.8 67.6 67.6
Labor Force Participation Rate (%) 58.20 62.6 62.6 62.6 61.7 61.7
Wages (AMD/Month) 179987.00 230000 230000 230000 250000 250000
Minimum Wages (AMD/Month) 55000.00 60000 60000 60000 60000 65000
Population (Million) 2.97 2.95 2.95 2.95 2.95 2.94
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) 162940.00 235000 235000 235000 242000 242000
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.70 2.5 2.7 2.3 3.1 3.5
Consumer Price Index CPI (points) 129.81 135 132 129 132 137
Core Consumer Prices (points) 100.08 102 102 102 102 103
Core Inflation Rate (%) 0.60 2 1.8 1.8 1.6 1.6
Producer Prices (points) 100.50 104 103 105 104 107
Inflation Rate Mom (%) 1.30 0.2 0.2 0.2 0.7 0.7
Producer Prices Change (%) -0.60 3.2 4 4 3.7 3
Food Inflation (%) -0.30 1.3 1.3 1.3 2.4 2.4
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 5.50 5.5 5.5 5.5 5.5 5.5
Money Supply M2 (AMD Million) 1729429.00 1620000 1620000 1620000 1750000 1750000
Deposit Interest Rate (%) 7.37 7.37 7.37 7.37 7.37 7.37
Lending Rate (%) 7.00 7 7 7 7 7
Foreign Exchange Reserves (USD Million) 2833.67 2200 2200 2200 2130 2130
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) -300.20 -212 -176 -176 -211 -211
Current Account (USD Million) -243.12 -250 -225 -225 -300 -250
Current Account to GDP (%) -6.60 -7.5 -7.5 -7.5 -7.5 -7.1
Exports (USD Million) 255.20 219 228 228 224 232
Imports (USD Million) 555.40 417 404 404 454 461
External Debt (USD Million) 11666.40 12000 11429 11578 12800 12800
Tourist Arrivals (Thousand) 193223.00 77400 44700 44900 44900 46100
Foreign Direct Investment (USD Million) 56.60 72.3 72.3 72.3 120 120
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 48.49 48.2 48.2 48.2 48.2 48.4
Government Budget (% of GDP) -1.80 -2 -2 -2 -2 -1.9
Government Budget Value (AMD Billion) -24704.10 -180000 -180000 -180000 -190000 -190000
Government Debt (AMD Billion) 3352.70 4100 4100 4100 4370 4370
Government Spending (AMD Million) 201203.20 142814 180754 205630 207642 216778
Military Expenditure (USD Million) 591.00 451 451 451 451 451
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 (%) 13.80 8.5 8.5 4.3 8.4 8.4
Industrial Production Mom (%) 0.60 2.6 2.6 2.6 4.1 4.1
Manufacturing Production (%) 2.50 3.3 3.3 3.3 8.7 8.7
Leading Economic Index (%) 10.10 7.5 11.5 11.5 12.8 12.8
Mining Production (%) 70.10 -2.9 -2.9 -2.9 2.4 2.4
Changes In Inventories (AMD Million) 86253.90 114000 114000 114000 115000 115000
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 11.90 11 5.9 5.2 5.2 7.5
Consumer Credit (AMD Million) 880647.33 762250 815294 864624 908828 948816
Consumer Spending (AMD Million) 1465723.40 1106101 1312241 1497969 1512627 1579182
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) 4.80 3.5 1.7 1.7 2.5 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.