Markets Actual Q4 Q1 Q2 Q3 2023
Currency 394.12 400 407 413 420 433

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Annual Growth Rate (%) 14.80 3.7 2.7 3 3 3.5
Unemployment Rate (%) 13.00 13.5 14 15.3 15.5 15
Inflation Rate (%) 9.50 10.2 9.5 7.5 5 4
Interest Rate (%) 10.50 11 11 10.5 9.5 8.5
Balance of Trade (USD Million) -344.60 -390 -240 -160 -160 -320
Current Account (USD Million) -15.20 -400 -400 -80 -80 -250
Current Account to GDP (% of GDP) -2.50 -3.8 -3.8 -3.6 -3.6 -4.8
Government Debt to GDP (% of GDP) 60.25 63.5 63 63.9 63.9 65
Government Budget (% of GDP) -4.00 -2.3 -2.3 -2.5 -2.5 -2.6
Personal Income Tax Rate (%) 21.00 21 21 21 21 21
Corporate Tax Rate (%) 18.00 18 18 18 18 18

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Annual Growth Rate (%) 14.80 3.7 2.7 3 3 3.5
GDP (USD Billion) 13.86 14 14 14 14 14.8
GDP Constant Prices (AMD Million) 2379316.90 2299189 1524414 1955722 2450696 2379661
Gross Fixed Capital Formation (AMD Million) 371047.60 568075 196619 270659 382179 587957
GDP per Capita (USD) 4243.24 4080 4260 4260 4260 4560
GDP per Capita PPP (USD) 13317.23 13900 13900 13900 13900 13900
Full Year GDP Growth (%) 5.70 1.5 2.5 3.5 3.5 3.5
GDP from Agriculture (AMD Million) 322677.10 234380 72040 143782 332357 242583
GDP from Construction (AMD Million) 152128.30 214129 55335 91225 156692 221623
GDP from Manufacturing (AMD Million) 242418.20 296792 153025 196148 249691 307180
GDP from Mining (AMD Million) 94131.20 58165 101026 102635 96955 60201
GDP from Public Administration (AMD Million) 85288.20 89843 71078 93353 87847 92987
GDP from Services (AMD Million) 44643.80 32676 28704 37411 45983 33820
GDP from Transport (AMD Million) 83274.10 49670 53585 62286 85772 51409
GDP from Utilities (AMD Million) 8188.20 6830 6556 7305 8434 7069

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 13.00 13.5 14 15.3 15.5 15
Unemployed Persons (Thousand ) 51.00 57.5 56 57 57 56
Labor Force Participation Rate (%) 58.80 60 60 60.2 60.2 59.5
Wages (AMD/Month) 236742.00 250000 250000 250000 250000 250000
Minimum Wages (AMD/Month) 68000.00 68000 76000 76000 76000 76000
Population (Million) 2.96 2.99 3 3 3 3
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) 195168.00 242000 242000 242000 242000 242000

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 9.50 10.2 9.5 7.5 5 4
Consumer Price Index CPI (points) 153.08 160 164 166 161 166
Core Consumer Prices (points) 100.32 107 108 106 106 110
Core Inflation Rate (%) 10.50 6.7 6.7 5 5 3
Producer Prices (points) 100.70 99.76 98.94 101 108 106
Producer Prices Change (%) -2.90 -2 -3 3.8 5 6
Inflation Rate MoM (%) 0.30 0.5 0.4 0.5 0.5 0.4
Food Inflation (%) 12.50 12 9.5 8 8 6

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 10.50 11 11 10.5 9.5 8.5
Money Supply M2 (AMD Million) 2556951.00 2550000 2650000 2690000 2690000 2750000
Deposit Interest Rate (%) 9.00 9.5 9.5 9 8 7
Lending Rate (%) 12.00 12.5 12.5 12 11 10
Foreign Exchange Reserves (USD Million) 3614.07 3150 3100 3250 3250 3300

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (USD Million) -344.60 -390 -240 -160 -160 -320
Current Account (USD Million) -15.20 -400 -400 -80 -80 -250
Current Account to GDP (% of GDP) -2.50 -3.8 -3.8 -3.6 -3.6 -4.8
Exports (USD Million) 605.70 280 250 290 290 300
Imports (USD Million) 950.30 670 490 450 450 620
External Debt (USD Million) 13874.37 14200 14220 14400 14400 15100
Tourist Arrivals (Thousand) 588731.00 250000 120000 190000 190000 190000
Foreign Direct Investment (USD Million) 242.20 110 110 120 120 140

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 60.25 63.5 63 63.9 63.9 65
Government Budget (% of GDP) -4.00 -2.3 -2.3 -2.5 -2.5 -2.6
Government Budget Value (AMD Million) 45310.80 -60000 -40000 -30000 -30000 -120000
Government Debt (AMD Billion) 3814.90 4400 4490 4520 4520 4600
Government Spending (AMD Million) 349287.00 410879 182706 258522 359766 425260
Military Expenditure (USD Million) 619.40 640 640 640 640 680

Taxes Actual Q4 Q1 Q2 Q3 2023
Personal Income Tax Rate (%) 21.00 21 21 21 21 21
Corporate Tax Rate (%) 18.00 18 18 18 18 18
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 Q4 Q1 Q2 Q3 2023
Industrial Production (%) 9.70 4 4 3 2.7 3.5
Industrial Production Mom (%) -1.70 5 4 3 3 5
Manufacturing Production (%) 20.00 7.5 3.5 4 4 5.5
Leading Economic Index (%) 17.50 7 2 2.5 3 4
Mining Production (%) 4.30 1 3 2 2 3
Changes in Inventories (AMD Million) 76401.60 70000 35000 50000 50000 100000

Consumer Actual Q4 Q1 Q2 Q3 2023
Retail Sales YoY (%) 23.10 6.5 2.3 0.8 -0.1 0.2
Consumer Credit (AMD Million) 837565.99 855356 856936 853004 862693 885294
Consumer Spending (AMD Million) 1547693.40 1491698 1255826 1468109 1594124 1543908

Housing Actual Q4 Q1 Q2 Q3 2023
Construction Output (%) 15.10 4 4 2 1.5 2.5