The Gross Domestic Product (GDP) in Armenia expanded 8.6 percent in the first quarter of 2022 over the same quarter of the previous year. At market prices, it was 1 484 AMD BLN. source: National Statistical Service of the Republic of Armenia

GDP Annual Growth Rate in Armenia averaged 6.59 percent from 1998 until 2021, 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. This page provides - Armenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Armenia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

GDP Annual Growth Rate in Armenia is expected to be 8.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Armenia GDP Annual Growth Rate is projected to trend around 3.50 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Armenia GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-02-21 11:00 AM Q4 9% 3% 8.7%
2022-05-23 11:00 AM Q1 8.6% 9% 9.3%
2022-08-22 11:00 AM Q2 8.6% 4.5%

Related Last Previous Unit Reference
GDP Annual Growth Rate 8.60 9.00 percent Mar 2022
GDP Constant Prices 1484336.90 2217154.70 AMD Million Mar 2022
Gross Fixed Capital Formation 191450.10 547805.90 AMD Million Mar 2022
GDP From Utilities 6383.60 6586.60 AMD Million Mar 2022
GDP From Transport 52176.50 47898.00 AMD Million Mar 2022
GDP From Services 27949.20 31510.30 AMD Million Mar 2022
GDP From Public Administration 69209.20 86637.10 AMD Million Mar 2022
GDP From Mining 98370.40 56089.90 AMD Million Mar 2022
GDP From Manufacturing 149001.80 286202.40 AMD Million Mar 2022
GDP From Construction 53880.70 206488.60 AMD Million Mar 2022
GDP From Agriculture 70145.70 226017.30 AMD Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.60 9.00 19.10 -19.70 1998 - 2022 percent Quarterly