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). GDP Annual Growth Rate in Armenia averaged 7.24 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.

GDP Annual Growth Rate in Armenia is expected to be 7.00 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 4.40 in 12 months time. In the long-term, the Armenia GDP Annual Growth Rate is projected to trend around 4.30 percent in 2020, according to our econometric models.

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Armenia GDP Annual Growth Rate
Calendar GMT Actual Previous Consensus TEForecast
2019-02-20 09:45 AM GDP Growth Rate YoY Q4 3.4% 2.5% 4.5%
2019-05-21 08:00 AM GDP Growth Rate YoY Q1 7.1% 3.1% 3.7%
2019-08-20 11:30 AM GDP Growth Rate YoY Q2 6.5% 7.2% 3.2%
2019-11-20 01:00 PM GDP Growth Rate YoY Q3 7.9% 6.9% 5.2%
2020-02-20 09:45 AM GDP Growth Rate YoY Q4 4.4%
2020-05-21 08:00 AM GDP Growth Rate YoY Q1 4.5%
2020-08-20 11:30 AM GDP Growth Rate YoY Q2 4.4%


Armenia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 7.90 6.90 19.10 -19.70 percent [+]
GDP 12.43 11.53 12.43 1.20 USD Billion [+]
GDP Constant Prices 1823763.30 1487174.80 1845202.80 8413.00 AMD Million [+]
Gross Fixed Capital Formation 275607.40 193844.60 451713.50 95230.00 AMD Million [+]
GDP per capita 4406.70 4198.80 4406.70 886.00 USD [+]
GDP per capita PPP 9177.70 8744.70 9177.70 1845.30 USD [+]
GDP From Agriculture 339988.80 121929.30 468357.70 50589.60 AMD Million [+]
GDP From Construction 120807.80 91519.10 196213.50 37520.60 AMD Million [+]
GDP From Manufacturing 203543.00 171789.00 203543.00 81803.40 AMD Million [+]
GDP From Mining 57704.60 51029.00 57704.60 20043.40 AMD Million [+]
GDP From Public Administration 70264.50 62188.90 88251.50 31259.30 AMD Million [+]
GDP From Services 46695.50 33909.90 46695.50 5295.50 AMD Million [+]
GDP From Transport 57396.60 47465.60 57396.60 24520.60 AMD Million [+]
GDP From Utilities 6619.10 7224.40 8163.50 2947.80 AMD Million [+]


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. This page provides - Armenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Armenia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.90 6.90 19.10 -19.70 1998 - 2019 percent Quarterly




Country Last Previous
China 6.00 Sep/19 6.2
Indonesia 5.02 Sep/19 5.05
India 4.50 Sep/19 5
United States 2.10 Sep/19 2.3
South Korea 2.00 Sep/19 2
Spain 2.00 Sep/19 2
Netherlands 1.90 Sep/19 1.8
Australia 1.70 Sep/19 1.6
Japan 1.70 Sep/19 0.9
Russia 1.70 Sep/19 0.9
Canada 1.60 Jun/19 1.4
France 1.40 Sep/19 1.4
Brazil 1.20 Sep/19 1.1
Euro Area 1.20 Sep/19 1.2
Switzerland 1.10 Sep/19 0.2
United Kingdom 1.00 Sep/19 1.3
Turkey 0.90 Sep/19 -1.6
Argentina 0.60 Jun/19 -5.8
Germany 0.50 Sep/19 0.3
Saudi Arabia 0.50 Jun/19 1.7
Singapore 0.50 Sep/19 0.2
Italy 0.30 Sep/19 0.1
South Africa 0.10 Sep/19 0.9
Mexico -0.30 Sep/19 -0.9


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