The Armenia economy advanced 6.5 percent year-on-year in the second quarter of 2019, easing from an upwardly revised 7.2 percent growth in the first quarter of 2019. Agriculture, forestry and fishing production dropped (-10.1 percent vs 0.8 percent) while output slowed for building (0.9 percent vs 9.2 percent) and trade & services (9.0 percent vs 10.8 percent). On the other hand, industry production advanced faster (10.0 percent vs 0.3 percent). GDP Annual Growth Rate in Armenia averaged 7.22 percent from 1998 until 2019, 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.
GDP Annual Growth Rate in Armenia is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Armenia to stand at 4.40 in 12 months time. In the long-term, the Armenia GDP Annual Growth Rate is projected to trend around 4.30 percent in 2020, according to our econometric models.