The Gross Domestic Product (GDP) in Armenia expanded 7.60 percent in the fourth quarter of 2019 over the same quarter of the previous year. Armenia GDP Annual Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

GDP Annual Growth Rate in Armenia averaged 7.25 percent from 1998 until 2019, reaching an all time high of 19.10 percent in the second quarter of 2006 and a record low of -19.70 percent in the third quarter of 2009. This page provides - Armenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: National Statistical Service of the Republic of Armenia

GDP Annual Growth Rate in Armenia is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Armenia to stand at 4.80 in 12 months time. In the long-term, the Armenia GDP Annual Growth Rate is projected to trend around 4.40 percent in 2021 and 4.30 percent in 2022, according to our econometric models.

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Armenia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.60 8.20 19.10 -19.70 1998 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-05-21 08:00 AM Q1 7.1% 3.1% 3.7%
2019-08-20 11:30 AM Q2 6.5% 7.2% 3.2%
2019-11-20 01:00 PM Q3 7.9% 6.9% 5.2%
2020-02-20 09:45 AM Q4 7.6% 8.2% 6.0%
2020-05-21 11:00 AM Q1 7.6% 4.8%
2020-08-20 11:00 AM Q2 5.0%
2020-11-20 11:00 AM Q3 4.4%

News Stream
Armenia GDP Expands the Most in Over a Year
The Armenian economy advanced 7.9 percent year-on-year in the third quarter of 2019, following an upwardly revised 6.9 percent expansion in the previous period. It was the strongest expansion since the first quarter of 2018, mainly boosted by manufacturing (11 percent vs 9.5 percent in Q2); construction (5.0 percent vs 0.9 percent) and financial and insurance (22.8 percent vs 14.8 percent) while agriculture output fell less (-2.0 percent vs -10.1 percent). On the other hand, wholesale and retail trade production increased at a softer pace (5.6 percent vs 7.7 percent).
Armenia GDP Growth Slows to 6.5% YoY in Q2
The Armenia economy advanced 6.5 percent year-on-year in the second quarter of 2019, easing from an upwardly revised 7.2 percent growth in the first quarter of 2019. Agriculture, forestry and fishing production dropped (-10.1 percent vs 0.8 percent) while output slowed for building (0.9 percent vs 9.2 percent) and trade & services (9.0 percent vs 10.8 percent). On the other hand, industry production advanced faster (10.0 percent vs 0.3 percent).
Armenia GDP Growth Rate Accelerates to 7.1% in Q1
The Armenian economy advanced 7.1 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.1 percent growth in the previous quarter. Output advanced further in the wholesale & retail trade sector (11.8 percent vs 5.8 percent in Q4); financial & insurance activities (26.5 percent vs 19.5 percent) and information & communication (8.2 percent vs 7.9 percent) while production rebounded for construction (9.2 percent vs -3.6 percent) and agriculture, hunting, forestry & fishing (0.8 percent vs -13.7 percent). On the other hand, output slowed for manufacturing (5.1 percent vs 9.3 percent); real estate activities (0.2 percent vs 6.7 percent) and education (1.0 percent vs 2.0 percent) while fell for electricity, gas, steam and air conditioning supply (-3.6 percent vs 14.8 percent) and transport ( -0.1 percent vs 7.4 percent).

Armenia GDP Annual Growth Rate
Armenia is a landlocked country without energy resources. Construction, which receives large funding from foreign direct investment and remittances, is the most important sector of the economy. As a modernization attempt, Armenia has focused on development of small scale agriculture and small and medium enterprises to replace the old soviet agro-industrial model. Nonetheless, industry and agriculture remain outperformed by services. Recent tax reforms have failed to tackle Armenia’s shadow economy and corruption problems.