Markets Actual Q2 Q3 Q4 Q1 2020
Currency 479.03 479 479 479 479 479
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 7.10 3.2 4.2 4.7 4.5 4.4
Unemployment Rate (%) 16.90 17 17.1 17.1 17.1 16.6
Inflation Rate (%) 2.20 2.8 2 2.6 2.5 3.1
Interest Rate (%) 5.75 5.75 5.5 5.5 5.5 5.5
Balance of Trade (USD Million) -203.90 -176 -219 -212 -212 -211
Current Account (USD Million) -389.80 -136 -98.7 -275 -275 -290
Current Account to GDP (%) -6.60 -6.7 -6.7 -6.7 -6.2 -6.2
Government Debt to GDP (%) 48.49 48 48 48 48.2 48.2
Government Budget (% of GDP) -1.80 -2.3 -2.3 -2.3 -1.9 -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 Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 7.10 3.2 4.2 4.7 4.5 4.4
GDP (USD Billion) 11.54 13.3 13.3 13.3 13.8 13.8
GDP Constant Prices (AMD Million) 1241543.50 1382861 1726111 1922010 1914632 2004657
Gross Fixed Capital Formation (AMD Million) 141591.70 193678 272212 423237 421613 441437
GDP per capita (USD) 4219.40 4572 4572 4572 4584 4584
GDP per capita PPP (USD) 8787.60 9400 9400 9400 9700 9700
GDP From Agriculture (AMD Million) 58353.70 127763 329231 271987 270943 283683
GDP From Construction (AMD Million) 45705.40 96051 123588 164538 163906 171613
GDP From Manufacturing (AMD Million) 147141.90 147203 173755 191833 191096 200081
GDP From Mining (AMD Million) 42938.50 37926 35815 41247 41089 43021
GDP From Public Administration (AMD Million) 47443.70 57369 53786 90234 89888 94114
GDP From Services (AMD Million) 19282.60 24897 36805 34747 34614 36241
GDP From Transport (AMD Million) 40575.50 45887 52960 52919 52716 55194
GDP From Utilities (AMD Million) 6266.00 6317 7115 5901 5879 6155
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 16.90 17 17.1 17.1 17.1 16.6
Unemployed Persons (Thousand ) 65.00 63.82 67.9 67.8 67.8 67.6
Labor Force Participation Rate (%) 65.70 61.2 62.4 62.6 62.6 61.7
Wages (AMD/Month) 177239.00 215000 223000 230000 230000 250000
Minimum Wages (AMD/Month) 55000.00 60000 60000 60000 60000 60000
Population (Million) 2.97 2.93 2.93 2.97 2.96 2.96
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) 158680.00 221000 229000 235000 235000 242000
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.20 2.8 2 2.6 2.5 3.1
Consumer Price Index CPI (Index Points) 131.64 129 128 132 135 136
Core Consumer Prices (Index Points) 99.93 101 102 103 103 105
Core Inflation Rate (%) 1.10 1.3 1.6 2.99 2.99 1.6
Producer Prices (Index Points) 100.70 107 104 103 105 107
Inflation Rate Mom (%) -0.10 0.8 0.28 0.2 0.2 0.7
Producer Prices Change (%) 3.00 4.6 4.3 4.2 4.2 3.7
Food Inflation (%) 3.90 2.5 2.6 1.3 1.3 2.4
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 5.75 5.75 5.5 5.5 5.5 5.5
Money Supply M2 (AMD Million) 1570161.00 1560000 1585000 1620000 1620000 1750000
Deposit Interest Rate (%) 8.57 8.57 8.57 8.57 8.57 8.57
Lending Rate (%) 7.25 7.25 7 7 7 7
Foreign Exchange Reserves (USD Million) 2148.64 2150 2170 2200 2200 2130
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Million) -203.90 -176 -219 -212 -212 -211
Current Account (USD Million) -389.80 -136 -98.7 -275 -275 -290
Current Account to GDP (%) -6.60 -6.7 -6.7 -6.7 -6.2 -6.2
Exports (USD Million) 206.50 222 187 215 219 224
Imports (USD Million) 410.40 398 406 448 417 454
External Debt (USD Million) 10916.02 11500 11750 12000 12000 12800
Tourist Arrivals (Thousand) 61173.00 77400 44700 44900 44900 46100
Foreign Direct Investment (USD Million) 70.70 74.5 64.3 72.3 72.3 120
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 48.49 48 48 48 48.2 48.2
Government Budget (% of GDP) -1.80 -2.3 -2.3 -2.3 -1.9 -1.9
Government Debt (AMD Billion) 3340.70 3690 3760 4100 4100 4370
Government Spending (AMD Million) 139153.30 193284 206334 251183 250218 261984
Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2020
Industrial Production (%) 2.20 5.4 3.3 6.5 6.5 8.4
Industrial Production Mom (%) 16.10 1.2 1.1 2.6 2.6 4.1
Manufacturing Production (%) 1.80 9.1 6.4 3.3 3.3 8.7
Leading Economic Index (%) 6.20 4.2 2.6 11.5 11.5 12.8
Mining Production (%) 0.80 9.8 6.3 -2.9 -2.9 2.4
Changes In Inventories (AMD Million) 53563.40 110000 112000 114000 114000 115000
Consumer Actual Q2 Q3 Q4 Q1 2020
Retail Sales YoY (%) 5.30 8.1 8.1 3.9 3.9 5.2
Consumer Credit (AMD Million) 776609.36 595375 645102 730570 753881 761984
Consumer Spending (AMD Million) 1080065.80 1077144 1293597 1494601 1488864 1558869
Housing Actual Q2 Q3 Q4 Q1 2020
Construction Output (%) 0.50 2.3 4.7 1.7 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.