The Armenian economy advanced 3.4 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 2.5 percent growth in the previous quarter. Output advanced further in the trade & services sector (10.7 percent from 7.9 percent in Q3). On the other hand, production slowed for industry (1.1 percent from 2.9 percent in Q3) and fell faster for construction (-2.7 percent from -0.4 percent) and for agriculture, hunting, forestry & fishing (-13.7 percent from -10.8 in Q3). On a quarterly basis, the GDP grew 7.4 percent after expanding 29.5 percent in the third quarter of the year. Considering the whole 2018, the economy grew by 5.2 percent, below a 7.5 percent expansion in the previous year. GDP Annual Growth Rate in Armenia averaged 7.23 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 3.80 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 4.60 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.