Armenia GDP Annual Growth Rate2022 Data - 2023 Forecast - 1998-2021 Historical

Name: Armenia GDP Annual Growth Rate
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Keywords: Armenia,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2021,2022,2023

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 July 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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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.