The Gross Domestic Product (GDP) in Armenia expanded 2.7 percent in the third quarter of 2021 over the same quarter of the previous year. It compares with an 8.7 percent contraction in the same quarter of 2020. source: National Statistical Service of the Republic of Armenia

GDP Annual Growth Rate in Armenia averaged 6.57 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 December of 2021.

GDP Annual Growth Rate in Armenia is expected to be 7.00 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 2022 and 5.00 percent in 2023, according to our econometric models.

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Armenia GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-20 11:00 AM Q2 13.1% -3.3% -2%
2021-11-22 11:00 AM Q3 2.7% 13.3% 8%
2022-02-22 11:00 AM Q4


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GDP Annual Growth Rate 2.70 13.30 percent Sep/21
GDP Constant Prices 1900549.80 1575488.10 AMD Million Sep/21
Gross Fixed Capital Formation 322523.30 185737.40 AMD Million Sep/21
GDP From Utilities 7539.90 6893.50 AMD Million Sep/21
GDP From Transport 47334.60 38256.60 AMD Million Sep/21
GDP From Services 36869.30 26769.00 AMD Million Sep/21
GDP From Public Administration 71724.20 74281.10 AMD Million Sep/21
GDP From Mining 56920.00 67520.90 AMD Million Sep/21
GDP From Manufacturing 203950.60 172916.40 AMD Million Sep/21
GDP From Construction 123445.60 65935.60 AMD Million Sep/21
GDP From Agriculture 278999.00 122782.10 AMD Million Sep/21
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.