Markets Actual Q3 Q4 Q1 Q2 2022
Currency 485.10 484 486 489 491 495

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -3.30 5.5 5 4.5 3.2 3.5
Unemployment Rate (%) 17.00 21 21 20 20 20
Inflation Rate (%) 6.50 8 5 4 3 3.5
Interest Rate (%) 6.50 6.5 6.5 6.75 7 7
Balance of Trade (USD Million) -113.10 -230 -229 -229 -229 -229
Current Account (USD Million) -82.35 -300 -250 -250 -250 -250
Current Account to GDP (% of GDP) -7.20 -6.6 -6.6 -6.6 -6.6 -6.8
Government Debt to GDP (% of GDP) 45.60 56.3 56.3 56.3 56.3 54.5
Government Budget (% of GDP) -1.00 -2.9 -2.9 -2.9 -2.9 -2.3
Corporate Tax Rate (%) 18.00 20 20 20 20 20
Personal Income Tax Rate (%) 22.00 36 36 36 36 36

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -3.30 5.5 5 4.5 3.2 3.5
GDP (USD Billion) 12.65 11 11 11 11 14
GDP Constant Prices (AMD Million) 1284086.40 1378324 2090857 1994103 1341870 2063897
Gross Fixed Capital Formation (AMD Million) 147701.90 160148 460418 487019 154348 504065
GDP per capita (USD) 4364.31 4480 4480 4480 4480 4760
GDP per capita PPP (USD) 12592.64 13500 13500 13500 13500 13900
GDP From Agriculture (AMD Million) 56351.20 131905 295881 259250 58887 268323
GDP From Construction (AMD Million) 46599.10 58697 178993 183168 48696 189579
GDP From Manufacturing (AMD Million) 128060.90 172140 208685 253040 133824 261897
GDP From Mining (AMD Million) 58130.70 59493 44871 52482 60747 54319
GDP From Public Administration (AMD Million) 69754.70 87895 98161 124350 72894 128702
GDP From Services (AMD Million) 18334.70 9635 37800 23264 19160 24078
GDP From Transport (AMD Million) 26504.20 35550 57568 35560 27697 36804
GDP From Utilities (AMD Million) 6081.50 5318 6420 5423 6355 5613

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 17.00 21 21 20 20 20
Unemployed Persons (Thousand ) 62.00 58.5 58 58 58 58
Labor Force Participation Rate (%) 56.20 61.7 61.7 61.7 61.7 61.7
Wages (AMD/Month) 197298.00 250000 250000 250000 250000 250000
Minimum Wages (AMD/Month) 68000.00 60000 65000 65000 65000 65000
Population (Million) 2.96 2.94 2.94 2.94 2.94 2.93
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) 173287.00 242000 242000 242000 242000 242000

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 6.50 8 5 4 3 3.5
Consumer Price Index CPI (points) 139.86 138 141 145 144 146
Core Consumer Prices (points) 100.29 105 106 106 106 106
Core Inflation Rate (%) 7.40 1.6 1.6 1.6 1.6 1.6
Producer Prices (points) 101.00 111 112 104 104 116
Inflation Rate Mom (%) -0.80 0.7 0.7 0.7 0.7 0.7
Food Inflation (%) 7.50 4.4 4.4 2 2 2.4
Producer Prices Change (%) 15.50 4.5 3 2.5 2.5 3

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 6.50 6.5 6.5 6.75 7 7
Money Supply M2 (AMD Million) 2171939.00 1750000 1750000 1750000 1750000 1750000
Deposit Interest Rate (%) 8.02 8.02 8.02 8.27 8.52 8.52
Lending Rate (%) 8.00 6.5 6.5 6.5 6.5 6.5
Foreign Exchange Reserves (USD Million) 2951.62 2130 2130 2130 2130 2130

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) -113.10 -230 -229 -229 -229 -229
Current Account (USD Million) -82.35 -300 -250 -250 -250 -250
Current Account to GDP (% of GDP) -7.20 -6.6 -6.6 -6.6 -6.6 -6.8
Imports (USD Million) 409.00 454 461 461 461 461
Exports (USD Million) 295.90 224 232 232 232 232
External Debt (USD Million) 13091.62 12800 12800 12800 12800 12800
Foreign Direct Investment (USD Million) -2.70 120 120 120 120 120
Tourist Arrivals (Thousand) 47.48 70000 65000 65000 65000 100000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 45.60 56.3 56.3 56.3 56.3 54.5
Government Budget (% of GDP) -1.00 -2.9 -2.9 -2.9 -2.9 -2.3
Government Budget Value (AMD Million) -50625.80 -190000 -190000 -190000 -190000 -190000
Government Debt (AMD Billion) 4329.20 4370 4370 4370 4370 4370
Military Expenditure (USD Million) 635.00 451 451 451 451 451
Government Spending (AMD Million) 188026.30 228139 273249 390479 196487 404146

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 18.00 20 20 20 20 20
Personal Income Tax Rate (%) 22.00 36 36 36 36 36
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 5.00 0 0 0 0 0
Social Security Rate For Companies (%) 2.50 0 0 0 0 0
Social Security Rate For Employees (%) 2.50 10 10 10 10 10

Business Actual Q3 Q4 Q1 Q2 2022
Industrial Production (%) 1.30 8 6 3 3 5
Industrial Production Mom (%) 2.10 7.5 5 5 5 5
Manufacturing Production (%) -4.20 6.5 9.5 9.5 9.5 8.5
Leading Economic Index (%) 8.00 5 3 3 2 4
Mining Production (%) 19.10 -5.5 5 5 5 5
Changes In Inventories (AMD Million) -50091.00 115000 115000 115000 115000 115000

Consumer Actual Q3 Q4 Q1 Q2 2022
Retail Sales YoY (%) 10.30 10 7.5 7.5 7.5 7.5
Consumer Credit (AMD Million) 893514.65 1036750 794750 975494 956765 1009637
Consumer Spending (AMD Million) 1063538.40 1100308 1625901 1275532 1111398 1320176

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 1.30 5 5 2.5 1.5 3


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.