Armenia Economic Forecast

Armenia Economic Outlook

May 8, 2018

The parliament is set to elect a new prime minister on 8 May, in a bid to calm political tensions after mass protests forced veteran leader Serzh Sargsyan to resign on 23 April. The demonstrations were sparked after Sargsyan, who had served the maximum two terms allowed as president, was elected prime minister by his ruling Republican party, triggering accusations of a power grab. The Republican party has stated that they will not put forward a candidate for prime minister and support whoever earns a third of lawmakers’ votes, a climbdown after the party blocked protest leader Nikol Pashinyan’s bid to become prime minister in an earlier vote. On the economic front, data from before the political crisis suggests that the economy continued to grow robustly in Q1.

Armenia Economic Growth

Healthy exports and remittances inflows should fuel solid growth this year. It remains to be seen if the political unrest will have a pronounced effect on growth. Met the why particular panelists project the economy will grow 4.4% in 2018, up 0.3 percentage points from last month’s forecast, and 4.0% in 2019.

Armenia Economy Data

20132014201520162017
Population (million)3.03.03.03.03.0
GDP per capita (USD)3,7203,9663,5743,578-  
GDP (USD bn)11.111.811.711.7-  
Economic Growth (GDP, annual variation in %)3.33.63.20.2-  
Consumption (annual variation in %)0.91.0-7.81.0-  
Investment (annual variation in %)-7.0-2.22.5-11.2-  
Industrial Production (annual variation in %)7.32.65.16.8-  
Unemployment Rate16.217.819.517.1-  
Fiscal Balance (% of GDP)-2.6-2.1-2.7-2.6-  
Public Debt (% of GDP)11.843.748.756.5-  
Money (annual variation of M2 in %)14.9-3.55.224.8-  
Inflation Rate (CPI, annual variation in %)5.83.03.7-1.4-  
Policy Interest Rate (%)7.758.508.756.25-  
Exchange Rate (vs USD)115.3463.5482.9482.8-  
Exchange Rate (vs USD, aop)119.6415.9477.9480.5-  
Current Account (% of GDP)-7.3-7.5-2.5-2.2-  
Current Account Balance (USD bn)-0.8-0.9-0.3-0.2-  
Trade Balance (USD billion)-2.2-2.1-1.2-0.9-  
Exports (USD billion)1.61.71.61.9-  
Imports (USD billion)3.83.82.82.8-  
Exports (annual variation in %)7.93.8-4.416.4-  
Imports (annual variation in %)5.6-2.0-25.10.9-  
International Reserves (EUR)1.61.21.62.1-  
External Debt (% of GDP)78.872.183.593.0-  

Sample Report

5 years of Armenia economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.

Download

Armenia Facts

ValueChangeDate
Stock Market0.90.0 %May 21
Stock Market0.90.0 %May 21

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Search form