Markets Actual Q3 Q4 Q1 Q2 2023
Currency 404.91 411 418 424 431 445

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Annual Growth Rate (%) 8.60 5 3.7 2.7 3 3.5
Unemployment Rate (%) 14.80 16 15.5 15.5 15.3 15
Inflation Rate (%) 9.30 8.7 7.9 6.5 5.5 4
Interest Rate (%) 9.50 9.5 9 9 8 7
Balance of Trade (USD Million) -236.30 -280 -390 -240 -160 -320
Current Account (USD Million) -284.24 -350 -400 -400 -80 -250
Current Account to GDP (% of GDP) -2.50 -2.6 -3.8 -3.8 -3.6 -4.8
Government Debt to GDP (% of GDP) 62.79 64.5 63.5 63 63.9 65
Government Budget (% of GDP) -4.00 -2.9 -2.3 -2.3 -2.5 -2.6
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 21.00 21 21 21 21 21

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Annual Growth Rate (%) 8.60 5 3.7 2.7 3 3.5
GDP (USD Billion) 13.86 13 14 14 14 14.8
GDP Constant Prices (AMD Million) 1484336.90 1995577 2299189 1524414 1528867 2379661
Gross Fixed Capital Formation (AMD Million) 191450.10 338649 568075 196619 197194 587957
GDP per capita (USD) 4243.24 4080 4080 4260 4260 4560
GDP per capita PPP (USD) 13317.23 13500 13900 13900 13900 13900
Full Year GDP Growth (%) 5.70 1 1.5 2.5 3.5 3.5
GDP From Agriculture (AMD Million) 70145.70 292949 234380 72040 72250 242583
GDP From Construction (AMD Million) 53880.70 129618 214129 55335 55497 221623
GDP From Manufacturing (AMD Million) 149001.80 214148 296792 153025 153472 307180
GDP From Mining (AMD Million) 98370.40 59766 58165 101026 101322 60201
GDP From Public Administration (AMD Million) 69209.20 75310 89843 71078 71285 92987
GDP From Services (AMD Million) 27949.20 38713 32676 28704 28788 33820
GDP From Transport (AMD Million) 52176.50 49701 49670 53585 53742 51409
GDP From Utilities (AMD Million) 6383.60 7917 6830 6556 6575 7069

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 14.80 16 15.5 15.5 15.3 15
Unemployed Persons (Thousand ) 56.10 56.5 57.5 56 57 56
Labor Force Participation Rate (%) 58.50 59.9 60 60 60.2 59.5
Wages (AMD/Month) 227173.00 250000 250000 250000 250000 250000
Minimum Wages (AMD/Month) 68000.00 68000 68000 76000 76000 76000
Population (Million) 2.96 2.99 2.99 3 3 3
Retirement Age Women 63.00 63 63 63 63 63
Retirement Age Men 65.00 65 65 65 65 65
Wages In Manufacturing (AMD/Month) 182026.00 242000 242000 242000 242000 242000

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 9.30 8.7 7.9 6.5 5.5 4
Consumer Price Index CPI (points) 151.86 151 156 160 162 163
Core Consumer Prices (points) 101.02 108 107 108 106 110
Core Inflation Rate (%) 9.40 7.2 6.7 6.7 5 3
Producer Prices (points) 96.90 111 109 109 103 116
Producer Prices Change (%) -1.20 7.7 7.5 6.9 6.1 6
Inflation Rate Mom (%) -1.38 0.2 0.5 0.4 0.5 0.4
Food Inflation (%) 17.10 15 12 9.5 8 6

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 9.50 9.5 9 9 8 7
Money Supply M2 (AMD Million) 2503155.00 2490000 2550000 2650000 2690000 2750000
Deposit Interest Rate (%) 7.75 8 7.5 7.5 6.5 6.5
Lending Rate (%) 10.75 11 6.5 10.5 9.5 9.5
Foreign Exchange Reserves (USD Million) 3018.63 3080 3150 3100 3250 3300

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (USD Million) -236.30 -280 -390 -240 -160 -320
Current Account (USD Million) -284.24 -350 -400 -400 -80 -250
Current Account to GDP (% of GDP) -2.50 -2.6 -3.8 -3.8 -3.6 -4.8
Exports (USD Million) 290.90 240 280 250 290 300
Imports (USD Million) 514.70 520 670 490 450 620
External Debt (USD Million) 13443.38 14200 14200 14220 14400 15100
Tourist Arrivals (Thousand) 249361.00 380000 250000 120000 190000 190000
Foreign Direct Investment (USD Million) 364.70 110 110 120 120 140

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 62.79 64.5 63.5 63 63.9 65
Government Budget (% of GDP) -4.00 -2.9 -2.3 -2.3 -2.5 -2.6
Government Budget Value (AMD Million) 28674.60 -80000 -60000 -40000 -30000 -120000
Government Debt (AMD Billion) 4332.80 4390 4400 4490 4520 4600
Government Spending (AMD Million) 177902.70 342719 410879 182706 183240 425260
Military Expenditure (USD Million) 635.00 640 640 640 640 680

Taxes Actual Q3 Q4 Q1 Q2 2023
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 21.00 21 21 21 21 21
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 (%) 5.00 5 5 5 5 5
Social Security Rate For Employees (%) 5.00 5 5 5 5 5

Business Actual Q3 Q4 Q1 Q2 2023
Industrial Production (%) 19.00 3 4 4 3 3.5
Industrial Production Mom (%) 11.70 5 5 4 3 5
Manufacturing Production (%) 3.60 2 7.5 3.5 4 5.5
Leading Economic Index (%) 18.50 3.5 3 2 2.5 4
Mining Production (%) -29.00 2 1 3 2 3
Changes In Inventories (AMD Million) 60855.00 65000 70000 35000 50000 100000

Consumer Actual Q3 Q4 Q1 Q2 2023
Retail Sales YoY (%) 18.20 4.5 4.5 5.5 3.5 4.5
Consumer Credit (AMD Million) 828159.40 874820 855356 856936 853004 885294
Consumer Spending (AMD Million) 1222810.30 1359952 1491698 1255826 1259495 1543908

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) 16.70 4.5 3 3 2 2.5


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Armenia Forecast - was last updated on Saturday, August 13, 2022.