ECON FACTBOOK

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Economy of Armenia

Population: 3.0 million in 2013¹

GDP: $10.4 billion in 2013²

GDP per capita: $3,505 nominal³ ($7,774 PPP⁴) in 2013

GDP growth rate: 3.5% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ millions) 2012	Percent of total
Other activities	2,144	23.1%
Agriculture, hunting, forestry, fishing	2,061	22.2%
Wholesale, retail trade, restaurants and hotels	1,405	15.1%
Construction	1,318	14.2%
Manufacturing	1,072	11.5%
Mining and utilities	667	7.2%
Transport, storage and communication	626	6.7%
Total value added	9,293	100%

Employment

Unemployment rate: 16.2% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Agriculture, forestry and fishing	422	36.3%
Wholesale trade, retail trade and repair of motor vehicles	115	9.9%
Education	106	9.1%
Manufacturing	97	8.3%
Public administration and defence	83	7.2%
Construction	66	5.7%
Transportation and storage	51	4.4%
Human health and social work	49	4.2%
Other service	25	2.2%
Arts, entertainment and recreation	22	1.9%
Information and communication	21	1.8%
Accommodation and food service	20	1.7%
Electricity, gas, steam and air conditioning	20	1.7%
Finance and insurance	16	1.4%
Professional, scientific and technical	15	1.3%
Administrative and support service	10	0.9%
Mining and quarrying	9	0.8%
Water supply, sewerage and waste management	6	0.6%
Extraterritorial organizations and bodies	3	0.3%
Activities of households as employers	3	0.3%
Real estate	2	0.2%
Total employment	1,164	100%

Corporations

Top 10 Corporations by Revenue 2013⁹

N/A

Households

Household Wealth: $14 billion (135% of GDP) in 2014¹⁰

Household Wealth per Adult: $5,950 in 2014¹⁰

Gini Coefficient: .313 in 2013¹¹

Government

Central Government

Central Government Revenue: $2.7 billion (26% of GDP) in 2013¹²

Central Government Expenditure: $2.7 billion (26% of GDP) in 2013¹²

Central Government Budget Balance: $0 billion (0% of GDP) in 2013¹²

Central Government Public Debt: $3.8 billion (37% of GDP) in Q3 2014* ¹³

Central Government 10 Year Bond Interest Rate: 6.25% in Sept 2013¹⁴

* Public debt calculated using the exchange rate 479 AMD = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* ¹⁵

24.4%: $0-$250
26% on excess + $61: $250-$4,175
36% on excess + $1,082: $4,175+

Corporate Tax Rate: 20% in 2014¹⁶

Monetary Policy

Money Supply (M1): $1.1 billion (11% of GDP) in Dec 2014* ¹⁷

Benchmark Interest Rate: 8.5% in Sept 2013¹⁸

Total Reserves: $2.3 billion (22% of GDP) in 2013¹⁹

Exchange Rate: 479 Armenian Dram = 1 U.S. Dollar on Feb 17, 2013²⁰

Inflation: 5.8% in 2013²¹

* Money supply calculated using the exchange rate 479 AMD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 2013²²

N/A (data not available at Relbanks.com)

International Accounts

Exports: $1.6 billion (16% of GDP) in 2013²³

Imports: $3.5 billion (34% of GDP) in 2013²³

Trade Balance: -$1.9 billion (-18% of GDP) in 2013²³

Foreign Direct Investment Inflow: $0.4 billion (4% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $0.3 billion (3% of GDP) in 2012²⁵

Foreign Aid Outflow: N/A

References