Economic data

• Population : 2 984 000 (2014, World Bank)

• Currency Armenian DRAM : 1€ = 570.17 Drams

1$ = 464.575 Drams
(19/12/2014, CBA)

(Source: http://www.rate.am)

• GDP in 2013 : $10,432,169,571

Armenia is a lower middle-income country. Remittances from migrant workers, which play an important role in Armenia’s economy, reached 12.1% of GDP in 2011. (World Bank 2011)

Composition by sector (Index Mundi)

agriculture: 20.6%
industry: 30.7%
services: 42.1%

• GDP growth in 2013 : 3.5%

The global financial crisis had a major impact on Armenia. Before the crisis, the growth rate neared 14%. Now, economic growth is gradually picking up from 2.1% in 2010 to 4.6% in 2013 driven mainly by the services sector and, to a lesser extent, agro-industries. (World Bank 2014)

(Source: http://www.worldbank.org/en/country/armenia)

• Poverty, measured as the % of the population living below the national poverty line : 32% (2013)

The effect of the financial crisis on rural and urban poverty has been dramatic-the poverty rate increased from 27.6% in 2008 to 35.8% in 2010. The situation improved though during the last few years, and came down to 32% in 2013. The poor have been supported through targeted social expenditures and pension increases, and as growth picks up the number of people living in poverty is expected to fall. (World Bank)

Poverty incidence (in %) 2008-2011 (Armstat, published also by World Bank).

(Source: http://www.armstat.am/file/article/poverty_2012e_2.pdf)

To read the report "Republic of Armenia: Poverty Reduction Strategy Paper-Progress Report" from the International Monetary Fund, click here.

• Gross external debt:

• Imports and Exports (Armenian Development Agency)

(Source: http://www.ada.am/rus/about-armenia/economic-info/key-economic-indicators/)

(Source: Eurostat (NewCronos), 10 January 2012)

• The Global Innovation Index (www.globalinnovationindex.org)

The 2013 Global Innovation Index (GII) ranks Armenia 59th among 142 countries with a score of 37.59.

(Sources:http://www.globalinnovationindex.org/content.aspx?page=gii-full-report-2013#pdfopener, July 2013)

The Global Innovation Index (GII) is a yearly report co-published by Cornell University, the European Institute of Business Administration and the World Intellectual Property Organization (a specialized agency of the United Nations). The GII focuses on measuring innovation at the country level. It provides interesting insights into the framework conditions needed for innovation to take place; it also looks at variations in actual innovation performance. The scores assigned are based on a scale of 100 (the highest value, leading to the best ranking) to 0 (the lowest score, leading to the worst ranking).

• Key indicators on Armenia (2007 - 2011)