Markets Actual Q2 Q3 Q4 Q1 2021
Currency 481.00 481 481 481 481 481

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 3.80 -10.5 2.5 2.5 4.5 4.4
Unemployment Rate (%) 17.90 19.5 21.3 22 22.2 21.7
Inflation Rate (%) 0.90 3.2 2.3 3.1 3.1 3.5
Interest Rate (%) 5.00 5 5 5 5 5.5
Balance of Trade (USD Million) -151.00 -176 -176 -211 -230 -211
Current Account (USD Million) -582.16 -225 -225 -300 -300 -250
Current Account to GDP (%) -8.20 -7.5 -7.5 -7.5 -7.1 -7.1
Government Debt to GDP (%) 48.49 49.5 49.5 49.5 52 52
Government Budget (% of GDP) -1.80 -5.8 -5.8 -5.8 -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 Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 3.80 -10.5 2.5 2.5 4.5 4.4
GDP (USD Billion) 13.30 10.29 13.8 13.8 14.4 14.4
GDP Constant Prices (AMD Million) 1267150.80 1409098 1850702 2041306 2081136 2131123
Gross Fixed Capital Formation (AMD Million) 132538.10 183668 279052 432841 441286 451886
GDP per capita (USD) 4406.70 4591 4591 4591 4726 4726
GDP per capita PPP (USD) 9177.70 8152 9700 9700 8152 8321
GDP From Agriculture (AMD Million) 60214.50 115528 344239 277120 282527 289313
GDP From Construction (AMD Million) 39280.40 86714 122318 160213 163339 167262
GDP From Manufacturing (AMD Million) 146568.70 162770 206087 244268 249034 255016
GDP From Mining (AMD Million) 45740.10 48350 58426 59855 61023 62489
GDP From Public Administration (AMD Million) 59635.20 58924 71143 97633 99538 101928
GDP From Services (AMD Million) 19198.90 32130 47279 40350 41137 42125
GDP From Transport (AMD Million) 37830.30 44974 58114 63758 65002 66564
GDP From Utilities (AMD Million) 4853.40 6845 6702 5963 6079 6225

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 17.90 19.5 21.3 22 22.2 21.7
Unemployed Persons (Thousand ) 61.60 61 59.5 59 58.5 58
Labor Force Participation Rate (%) 56.60 62.6 62.6 61.7 61.7 61.7
Wages (AMD/Month) 192450.00 230000 230000 250000 250000 250000
Minimum Wages (AMD/Month) 68000.00 60000 60000 60000 60000 65000
Population (Million) 2.97 2.95 2.95 2.95 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) 171731.00 235000 235000 242000 242000 242000

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 0.90 3.2 2.3 3.1 3.1 3.5
Consumer Price Index CPI (points) 133.02 133 129 134 136 138
Core Consumer Prices (points) 99.96 102 102 102 102 103
Core Inflation Rate (%) 0.50 1.8 1.8 1.6 1.6 1.6
Producer Prices (points) 99.60 103 103 106 103 109
Producer Prices Change (%) 0.80 4 1.5 3 3.5 3
Inflation Rate Mom (%) 0.90 0.2 0.2 0.7 0.7 0.7
Food Inflation (%) -2.80 1.3 1.3 2.4 2.4 2.4

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 5.00 5 5 5 5 5.5
Money Supply M2 (AMD Million) 1844220.00 1620000 1620000 1750000 1750000 1750000
Deposit Interest Rate (%) 8.47 8.47 8.22 9.01 8.22 9.01
Lending Rate (%) 6.50 6.5 6.5 6.5 6.5 6.5
Foreign Exchange Reserves (USD Million) 2488.28 2200 2200 2130 2130 2130

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Million) -151.00 -176 -176 -211 -230 -211
Current Account (USD Million) -582.16 -225 -225 -300 -300 -250
Current Account to GDP (%) -8.20 -7.5 -7.5 -7.5 -7.1 -7.1
Imports (USD Million) 296.90 404 404 454 454 461
Exports (USD Million) 145.90 228 228 224 224 232
External Debt (USD Million) 12199.07 12000 11429 12800 12800 12800
Foreign Direct Investment (USD Million) 68.80 72.3 72.3 120 120 120
Tourist Arrivals (Thousand) 134490.00 77400 44700 44900 44900 46100

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 48.49 49.5 49.5 49.5 52 52
Government Budget (% of GDP) -1.80 -5.8 -5.8 -5.8 -8.5 -8.5
Government Budget Value (AMD Billion) -161239.60 -180000 -180000 -190000 -190000 -190000
Government Debt (AMD Billion) 3509.60 4100 4100 4370 4370 4370
Military Expenditure (USD Million) 591.00 451 451 451 451 451
Government Spending (AMD Million) 159313.30 167087 203718 306601 312584 320092

Taxes Actual Q2 Q3 Q4 Q1 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 2.5 10 10

Business Actual Q2 Q3 Q4 Q1 2021
Industrial Production (%) -8.60 8.5 4.3 8.4 8.4 8.4
Industrial Production Mom (%) -2.00 6.5 0.5 12 7.5 5
Manufacturing Production (%) -5.20 7.5 8.5 9.5 6.5 9.5
Leading Economic Index (%) -17.20 3.5 11.5 12.8 12.8 12.8
Mining Production (%) 11.80 5.5 -3.5 6 -5.5 5
Changes In Inventories (AMD Million) 84.80 114000 114000 115000 115000 115000

Consumer Actual Q2 Q3 Q4 Q1 2021
Retail Sales YoY (%) -33.10 5.9 5.2 5.2 5.2 7.5
Consumer Credit (AMD Million) 951942.07 753650 856587 938816 994779 980124
Consumer Spending (AMD Million) 1107864.00 1213023 1484045 1703875 1737121 1778846

Housing Actual Q2 Q3 Q4 Q1 2021
Construction Output (%) -51.00 3.5 1.7 2.5 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.