Markets Actual Q3 Q4 Q1 Q2 2020
Currency 474.91 475 475 475 475 475
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 7.10 4.2 4.7 4.5 4.4 4.4
Unemployment Rate (%) 16.90 17 17.1 17.1 16.9 16.6
Inflation Rate (%) 1.70 2 2.6 2.5 2.7 3.1
Interest Rate (%) 5.75 5.5 5.5 5.5 5.5 5.5
Balance of Trade (USD Million) -215.60 -219 -212 -212 -212 -211
Current Account (USD Million) -277.28 -260 -385 -250 -225 -300
Current Account to GDP (%) -6.60 -6.7 -6.7 -6.2 -6.2 -6.2
Government Debt to GDP (%) 48.49 48 48 48.2 48.2 48.2
Government Budget (% of GDP) -1.80 -2.3 -2.3 -1.9 -1.9 -1.9
Personal Income Tax Rate (%) 36.00 36 36 36 36 36
Corporate Tax Rate (%) 20.00 20 20 20 20 20
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 7.10 4.2 4.7 4.5 4.4 4.4
GDP (USD Billion) 12.43 13.3 13.3 13.8 13.8 13.8
GDP Constant Prices (AMD Million) 1241543.50 1753884 1931233 1297413 1296171 2016207
Gross Fixed Capital Formation (AMD Million) 141591.70 276592 425268 147963 147822 443980
GDP per capita (USD) 4406.70 4572 4572 4584 4584 4584
GDP per capita PPP (USD) 9177.70 9400 9400 9700 9700 9700
GDP From Agriculture (AMD Million) 58353.70 334528 273292 60980 60921 285317
GDP From Construction (AMD Million) 45705.40 125577 165328 47762 47716 172602
GDP From Manufacturing (AMD Million) 147141.90 176551 192753 153763 153616 201234
GDP From Mining (AMD Million) 42938.50 36391 41445 44871 44828 43269
GDP From Public Administration (AMD Million) 47443.70 54652 90667 49579 49531 94656
GDP From Services (AMD Million) 19282.60 37397 34914 20150 20131 36450
GDP From Transport (AMD Million) 40575.50 53812 53173 42401 42361 55512
GDP From Utilities (AMD Million) 6266.00 7229 5930 6548 6542 6191
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 16.90 17 17.1 17.1 16.9 16.6
Unemployed Persons (Thousand ) 63.40 67.9 67.8 67.8 67.8 67.6
Labor Force Participation Rate (%) 65.70 62.4 62.6 62.6 62.6 61.7
Wages (AMD/Month) 179519.00 223000 230000 230000 230000 250000
Minimum Wages (AMD/Month) 55000.00 60000 60000 60000 60000 60000
Population (Million) 2.97 2.93 2.97 2.96 2.96 2.96
Retirement Age Women 63.00 63 63 63 63 63
Retirement Age Men 63.00 63 63 63 63 63
Wages In Manufacturing (AMD/Monthly) 177218.00 229000 235000 235000 235000 242000
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 1.70 2 2.6 2.5 2.7 3.1
Consumer Price Index CPI (Index Points) 126.17 128 132 135 132 136
Core Consumer Prices (Index Points) 99.94 102 103 103 102 105
Core Inflation Rate (%) 1.50 1.6 1.8 2 1.8 1.6
Producer Prices (Index Points) 99.00 102 102 104 103 106
Inflation Rate Mom (%) -1.90 0.8 0.2 0.2 0.2 0.7
Producer Prices Change (%) -2.10 1.5 3.2 3.2 4 3.7
Food Inflation (%) 2.60 2.6 1.3 1.3 1.3 2.4
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 5.75 5.5 5.5 5.5 5.5 5.5
Money Supply M2 (AMD Million) 1609563.00 1585000 1620000 1620000 1620000 1750000
Deposit Interest Rate (%) 8.25 8.57 8.57 8.57 8.57 8.57
Lending Rate (%) 7.25 7 7 7 7 7
Foreign Exchange Reserves (USD Million) 2200.00 2170 2200 2200 2200 2130
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Million) -215.60 -219 -212 -212 -212 -211
Current Account (USD Million) -277.28 -260 -385 -250 -225 -300
Current Account to GDP (%) -6.60 -6.7 -6.7 -6.2 -6.2 -6.2
Exports (USD Million) 212.30 187 215 219 228 224
Imports (USD Million) 427.90 406 448 417 404 454
External Debt (USD Million) 11078.96 11292 11429 11578 11566 11932
Tourist Arrivals (Thousand) 61268.00 77400 44700 44900 44900 46100
Foreign Direct Investment (USD Million) 34.40 64.3 72.3 72.3 72.3 120
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 48.49 48 48 48.2 48.2 48.2
Government Budget (% of GDP) -1.80 -2.3 -2.3 -1.9 -1.9 -1.9
Government Debt (AMD Billion) 3364.80 3760 4100 4100 4100 4370
Government Spending (AMD Million) 139153.30 209654 252388 145415 145276 263493
Taxes Actual Q3 Q4 Q1 Q2 2020
Personal Income Tax Rate (%) 36.00 36 36 36 36 36
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 0.00 0 0 0 0 0
Social Security Rate For Companies (%) 0.00 0 0 0 0 0
Social Security Rate For Employees (%) 0.00 0 0 0 0 0
Business Actual Q3 Q4 Q1 Q2 2020
Industrial Production (%) 12.80 3.3 6.5 6.5 6.5 8.4
Industrial Production Mom (%) 6.30 1.1 2.6 2.6 2.6 4.1
Manufacturing Production (%) 1.80 6.4 3.3 3.3 3.3 8.7
Leading Economic Index (%) 3.40 2.6 11.5 11.5 11.5 12.8
Mining Production (%) 0.80 6.3 -2.9 -2.9 -2.9 2.4
Changes In Inventories (AMD Million) 53563.40 112000 114000 114000 114000 115000
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales YoY (%) 6.70 8.1 3.9 3.9 3.9 5.2
Consumer Credit (AMD Million) 795409.07 655482 734075 777882 815955 766375
Consumer Spending (AMD Million) 1080065.80 1314411 1501773 1128669 1127589 1567851
Housing Actual Q3 Q4 Q1 Q2 2020
Construction Output (%) 0.60 4.7 1.7 1.7 1.7 2.5


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.