Markets Actual Q3 Q4 Q1 Q2 2021
Currency 483.83 484 484 484 484 484

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 3.80 2.5 2.5 4.5 4.4 4.4
Unemployment Rate (%) 19.80 21.3 22 22.2 22 21.7
Inflation Rate (%) 1.50 1.3 1.5 1.7 1.8 2.5
Interest Rate (%) 4.50 4.25 4.25 4.25 4.5 4.5
Balance of Trade (USD Million) -142.00 -176 -211 -230 -230 -211
Current Account (USD Million) -196.72 -225 -300 -300 -300 -250
Current Account to GDP (%) -9.70 -7.5 -7.5 -7.1 -7.1 -7.1
Government Debt to GDP (%) 45.60 49.5 49.5 52 52 52
Government Budget (% of GDP) -1.00 -5.8 -5.8 -8.5 -8.5 -8.5
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 23.00 23 23 23 23 23

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 3.80 2.5 2.5 4.5 4.4 4.4
GDP (USD Billion) 13.67 9.8 9.8 11 11 11
GDP Constant Prices (AMD Million) 1267150.80 1850702 2041306 1324173 1322905 2131123
Gross Fixed Capital Formation (AMD Million) 132538.10 279052 432841 138502 138370 451886
GDP per capita (USD) 4732.10 4050 4050 4480 4480 4480
GDP per capita PPP (USD) 13653.70 13100 13100 13500 13500 13500
GDP From Agriculture (AMD Million) 60214.50 344239 277120 62924 62864 289313
GDP From Construction (AMD Million) 39280.40 122318 160213 41048 41009 167262
GDP From Manufacturing (AMD Million) 146568.70 206087 244268 153164 153018 255016
GDP From Mining (AMD Million) 45740.10 58426 59855 47798 47753 62489
GDP From Public Administration (AMD Million) 59635.20 71143 97633 62319 62259 101928
GDP From Services (AMD Million) 19198.90 47279 40350 20063 20044 42125
GDP From Transport (AMD Million) 37830.30 58114 63758 39533 39495 66564
GDP From Utilities (AMD Million) 4853.40 6702 5963 5072 5067 6225

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 19.80 21.3 22 22.2 22 21.7
Unemployed Persons (Thousand ) 60.20 59.5 59 58.5 58.5 58
Labor Force Participation Rate (%) 56.60 62.6 61.7 61.7 61.7 61.7
Wages (AMD/Month) 182200.00 230000 250000 250000 250000 250000
Minimum Wages (AMD/Month) 68000.00 60000 60000 60000 60000 65000
Population (Million) 2.97 2.95 2.95 2.94 2.94 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/Month) 167396.00 235000 242000 242000 242000 242000

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 1.50 1.3 1.5 1.7 1.8 2.5
Consumer Price Index CPI (points) 128.24 128 132 134 133 135
Core Consumer Prices (points) 99.92 102 102 102 102 103
Core Inflation Rate (%) 0.90 1.5 1.6 1.6 1.6 1.6
Producer Prices (points) 100.50 103 106 103 105 109
Inflation Rate Mom (%) -2.10 0.2 0.7 0.7 0.7 0.7
Producer Prices Change (%) 2.60 1.5 3 3.5 3.5 3
Food Inflation (%) 1.20 1.3 2.4 2.4 2.4 2.4

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 4.50 4.25 4.25 4.25 4.5 4.5
Money Supply M2 (AMD Million) 1894231.00 1620000 1750000 1750000 1750000 1750000
Deposit Interest Rate (%) 8.31 8.31 8.31 8.31 8.56 8.56
Lending Rate (%) 6.00 6 6 6.5 6.5 6.5
Foreign Exchange Reserves (USD Million) 2577.30 2200 2130 2130 2130 2130

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) -142.00 -176 -211 -230 -230 -211
Current Account (USD Million) -196.72 -225 -300 -300 -300 -250
Current Account to GDP (%) -9.70 -7.5 -7.5 -7.1 -7.1 -7.1
Imports (USD Million) 312.60 404 454 454 454 461
Exports (USD Million) 192.20 228 224 224 224 232
External Debt (USD Million) 12000.13 12000 12800 12800 12800 12800
Foreign Direct Investment (USD Million) 68.80 72.3 120 120 120 120
Tourist Arrivals (Thousand) 70603.00 17000 20000 45000 55000 65000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 45.60 49.5 49.5 52 52 52
Government Budget (% of GDP) -1.00 -5.8 -5.8 -8.5 -8.5 -8.5
Government Budget Value (AMD Billion) 46331.30 -180000 -190000 -190000 -190000 -190000
Government Debt (AMD Billion) 3646.90 4100 4370 4370 4370 4370
Military Expenditure (USD Million) 591.00 451 451 451 451 451
Government Spending (AMD Million) 159313.30 203718 306601 166482 166323 320092

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 23.00 23 23 23 23 23
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 5.00 5 5 5 5 5
Social Security Rate For Companies (%) 2.50 2.5 2.5 2.5 2.5 2.5
Social Security Rate For Employees (%) 2.50 2.5 2.5 10 10 10

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) -2.40 4.3 8.4 8.4 8.4 8.4
Industrial Production Mom (%) 6.30 0.5 12 7.5 7.5 5
Manufacturing Production (%) -9.40 8.5 9.5 6.5 6.5 9.5
Leading Economic Index (%) -7.50 3.5 12.8 12.8 12.8 12.8
Mining Production (%) 21.10 -3.5 6 -5.5 -5.5 5
Changes In Inventories (AMD Million) 84.80 114000 115000 115000 115000 115000

Consumer Actual Q3 Q4 Q1 Q2 2021
Retail Sales YoY (%) -12.40 5.2 5.2 5.2 5.2 7.5
Consumer Credit (AMD Million) 955530.28 856587 938816 994779 988095 980124
Consumer Spending (AMD Million) 1107864.00 1484045 1703875 1157718 1156610 1778846

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -23.30 1.5 2.5 5 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.