Economy of Armenia

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countries (Latvia: 8.6%, Georgia: 7.7%, Azerbaijan: 4.8%), we can see that it is very high. In 2017, the National Statistical Service of Armenia stated that more than 60% of officially registered unemployed people in Armenia are women. One of the lecturers of Yerevan State University, Ani Kojoyan, mentioned that even though there is no issue in the legislation that becomes a reason for women's unemployment; however, there are some issues that are not mentioned in the legislation. Some of those issues are the fact that potential employers consider women's marital status, how many children they have, or if they are planning to get pregnant any time soon. Moreover, some women are not allowed to work by their husbands after graduating from higher educational institutions. She mentions that the most crucial problem affecting this phenomenon is the fact women do not stand up for their rights. It is also mentioned that according to various sources, there is an inequality in men's and women's monthly wages. In all the sectors, the average monthly salary of men is much higher than women even with the same years of education. It is stated that eliminating the discrimination between two genders would positively impact the country's economy. Ani Kojoyan mentions that this is a crucial problem for the economy except for being a women's rights violation. Thus, the Armenian government should take care that unemployed women can find jobs and become taxpayers.

1326:. In 1992, the Law on the Programme of Privatisation and Decentralisation of Incompletely Constructed Facilities established a state privatisation committee, with members from all political parties. In the middle of 1993, the committee announced a two-year privatisation programme, whose first stage would be privatisation of 30% of state enterprises, mostly services and light industries. The remaining 70%, including many bankrupt, nonfunctional enterprises, were to be privatised in a later stage with a minimum of government restriction, to encourage private initiative. For all enterprises, the workers would receive 20% of their firm's property free of charge; 30% would be distributed to all citizens by means of vouchers; and the remaining 50% was to be distributed by the government, with preference given to members of the labour organisations. A major problem of this system, however, was the lack of supporting legislation covering foreign investment protection, bankruptcy, monopoly policy, and consumer protection. 3298: 3538:

Statistical Committee. As a consequence, Armenia's foreign trade turnover reached 1.5 trillion drams ($ 2.9 billion), with exports totaling 567.4 billion drams ($ 1.1 billion) and imports being 931.8 billion drams ($ 1.8 billion), resulting in a 364.4 billion drams ($ 695 million) international trade deficit. Foreign trade turnover climbed by 3.9 percent in May 2021,resulting to a 7.9% increase in exports and a minimal 1.5 percent increase in imports. As a consequence, Armenia's international trade deficit in May 2021 was 83.4 billion drams ($ 160 million), decreasing 7.4% from the same month in 2020. (by 21.1 percent ). Foreign trade turnover increased by 13% year over year in May 2020, due to a 30.7 percent increase in exports and a moderate 4.3 percent increase in imports.

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refugees from Turkish Armenia, disease, hunger and economic misery. About 200,000 people died in 1919 alone. At that point, only American relief efforts saved Armenia from total collapse. Thus, Armenians went from being one of the wealthiest ethnic groups in the region to suffering from poverty and famine. Armenians were the second richest ethnic group in Anatolia after the Greeks, and they were heavily involved in very high productive sectors such as banking, architecture, and trade. However, after the mass killings of Armenian intellectuals in April 1915 and the genocide targeted towards the whole Armenian population left the people and the country in ruins. The genocide was responsible for the loss of many high-quality skills that the Armenians possessed.

1502: 1471: 4668:, warned that Armenia will not reach a higher level of development unless its leadership changes the "oligopolistic" structure of the national economy, bolsters the rule of law and shows "zero tolerance" towards corruption. "I think you can only go so far with this economic model," Ngozi Okonjo-Iweala told a news conference in Yerevan. "Armenia is a lower middle-income country. If it wants to become a high-income or upper middle-income country, it can not do so with this kind of economic structure. That is clear." She also called for a sweeping reform of tax and customs administration, the creation of a "strong and independent judicial system" as well as a tough fight against government corruption. The warning was echoed by the 4263: 3299: 6854: 3365: 3494:". In addition, the authors concluded that the most perspective product groups of Armenian export tend to be "Industrial products", "Food and beverages" and "Consumer goods". On the other hand, the paper "The effects of exchange rate volatility on exports: evidence from Armenia" analyzes the effect of Armenian floating exchange rate regime and exchange rate volatility on Armenian exports to Russia. According to the paper exchange rate volatility has long-run and short-run negative effects on exports. Moreover, authors stated that high exchange rate risk resulted in decreasing exports to Russia. 802: 689: 6846: 4455: 3478:

position as contract manufacturing destination for European brands. Foreign companies that put orders to Armenian companies are mainly famous European brands, particularly, from Italy (La Perla, SARTIS, VERSACE etc.) and Germany (LEBEK International Fashion, KUBLER Bekliedungswerk). With the Armenia's entry into Eurasian Economic Commission, the opportunity to increase its presence with textile and leather production raised also in the countries of Eurasian Economic Commission as no customs duty applies to Armenian products in the export markets within the customs union.

1318:(CPA) and other groups that had enjoyed privileged position in the old economy. In the late 1980s, much of Armenia's economy already was opening either semi-officially or illegally, with widespread corruption and bribery. The so-called mafia, made up of interconnected groups of powerful officials and their relatives and friends, sabotaged the efforts of reformers to create a lawful market system. When the December 1988 earthquake brought millions of dollars of foreign aid to the devastated regions of Armenia, much of the money went to corrupt and criminal elements. 3303: 2527: 42: 3301: 678: 2879: 2363: 4838: 1274:

underwent a fundamental transformation into a "proletarian" society. Between 1929 and 1939, the percentage of Armenia's work force categorised as industrial workers grew from 13% to 31%. By 1935 industry supplied 62% of Armenia's economic production. Highly integrated and sheltered within artificial barter economy of the Soviet system from the 1930s until the end of the communist era, the Armenian economy showed few signs of self-sufficiency at any time during that period. In 1988, Armenia produced only 0.9% of the

722: 12366: 4264: 5007:, which borders Iran. Economic analysts say that the project would cost at least $ 1 billion (equivalent to about 40 percent of Armenia's 2008 state budget). As of 2010, the project has been continuously delayed, with the rail link estimated to cost as much as $ 4 billion and stretch 313 km (194 mi). In June 2010, Transport Minister Manuk Vartanian revealed that Yerevan is seeking as much as $ 1 billion in loans from China to finance the railway's construction. 957: 933: 558: 550: 377: 369: 1250: 13169: 4260: 3356: 3295: 3511:

After the 2008 Russian-Georgian conflict, which briefly halted the nation's hydrocarbon supply and exposed the country's energy vulnerabilities, the country has been looking for other energy sources. Tensions with its neighbors, notably Azerbaijan and Turkey, continue to exist, affecting commerce. Armenia's ties to Russia, as well as its membership in the Eurasian Economic Union, constrain the country's potential to integrate further with the EU.

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Aimed at the sector's development on November 15, 2021, the Silicon Mountains Summit dedicated to introducing intelligent solutions in the economy was held in Yerevan. The main topic of the summit was the prospect of digitalization of the economy in Armenia. The main driving force of this sphere in Armenia is the banks. Digital transformation is a necessity for banks and financial institutions. At the moment, ACBA Bank is the leader․

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By signing another document on the same day, USAID increased the aid by additional US$ 7.5 million in support for more competitive and diversified private sector in Armenia. The financial allocations will be directed to the financing of the USAID-funded project in infrastructures, agriculture, tourism․ After the signing of the new bilateral agreements, the total amount of the U.S. grants to Armenia amounted to around US$ 81 million.

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sector." The compact includes a $ 67 million to rehabilitate up to 943 kilometers of rural roads, more than a third of Armenia's proposed "Lifeline road network". The Compact also includes a $ 146 million project to increase the productivity of approximately 250,000 farm households through improved water supply, higher yields, higher-value crops, and a more competitive agricultural sector.

10074: 4266: 9496: 1266:(NEP) of 1921–1927. This policy continued state control of the large enterprises and banks, but peasants could market much of their grain, and small businesses could function. In Armenia, the NEP years brought partial recovery from the economic disaster of the post-World War I period. By 1926 agricultural production in Armenia had reached nearly three-quarters of its prewar level. 1270:

Among other restrictions, peasants now were forced to sell nearly all of their output to state procurement agencies rather than at the open market. From the 1930s through the 1960s, an industrial infrastructure has been constructed. Besides hydroelectric plants and canals, roads were built and gas pipelines were laid to bring fuel and food from Azerbaijan and Russia.

1314:. To supply the country's basic needs, the first decision was land reform and the privatization of land. This allowed for the emergence of small-parcel agriculture supplying markets and supporting self-sustenance during the period of shortages. Cooperatives were set up in the service sector, particularly in restaurants, although substantial resistance came from the 2523:

macroeconomic stability and an enhanced business environment. In Armenia, the service sector in 2020 reduced volumes by 14.7%, against 15% growth a year earlier, amounting to 1.7 trillion drams ($ 3.5 billion). According to the Statistical Committee, a negative trend was recorded in all service segments except finance, as well as information and communication.

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2013-2017 reaching to around 14.90% in 2017. By comparing the share of agriculture as a component of GDP with the neighboring countries (Georgia, Azerbaijan, Turkey, Iran) one can notice that the percentage is highest for Armenia. As of 2017 the contribution of agriculture to the GDP for the neighboring countries was 6.88, 5.63, 6.08 and 9.05 respectively.

4267: 3091:, during the first half of 2008, cash remittances sent back to Armenia by Armenians working abroad rose by 57.5 percent and totaled US$ 668.6 million, equivalent to 15 percent of the country's first-half Gross Domestic Product. However, the latter figures only represent cash remittances processed through Armenian commercial banks. According to 4268: 1121:

small-scale agriculture away from the large agroindustrial complexes of the Soviet era. The agricultural sector has long-term needs for more investment and updated technology. Armenia began borrowing soon after declaring independence. In 2000, Armenian governmental debt reached its greatest level relative to GDP (49.3 percent of GDP).

3240:(VAT) of 20%. By comparison, corporate profit tax generated less than 16 percent of the revenues. This suggests that tax collection in Armenia is improving at the expense of ordinary citizens, rather than wealthy citizens (who have been the main beneficiaries of Armenia's double-digit economic growth in recent years). 1294:

the international trading system of the Soviet Union, the Armenian economy of the early 1990s remained far below its 1980 production levels. In the first years of independence (1992–93), inflation was extremely high, productivity and national income dropped dramatically, and the national budget ran large deficits.

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total imports of Armenia, followed by Refined Petroleum, which account for 5.46%. Armenia's main imports are oil, natural gas, cereals, rubber manufactures, cork and wood, and electrical machinery. Armenia's main imports partners are Russia, China, Ukraine, Iran, Germany, Italy, Turkey, France and Japan.

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reported that in 2020, the unemployment rate has been volatile reaching to 19.8% during the first quarter of the year and then decreasing to 16% during the fourth quarter. According to the latest reports on population of Armenia, in December 2020 the population consisted of 2.96million people and the

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process more than 90 percent of freight shipped to and from landlocked Armenia. The Georgian railway, which runs through the town of Gori in central Georgia, is the main transport link between Armenia and the aforementioned Georgian seaports. Fuel, wheat and other basic commodities are transported to

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Following the advice of economic advisers who cautioned Armenia's leadership against the consolidation of economic power in the hands of a few, in January 2001 the government of Armenia established the State Commission for the Protection of Economic Competition. Its members cannot be dismissed by the

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On May 8, 2019, conditioned with the political events in Armenia since April 2018, United States Agency for International Development signed an extension of US–Armenia bilateral agreement in the area of governance and public administration, which would add additional US$ 8.5 million to the agreement.

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Armenia's trade with Iran grew significantly from 2015 and 2020. Because Armenia's land borders to the east and west have been closed by the governments of Turkey and Azerbaijan, domestic firms have looked to Iran as a key economic partner. In 2020, trade between the countries exceeded $ 300 million.

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Nowadays(2019), Armenia has improved standards of living and growing income, which brought to the improvement of retail sector in Armenia. retail sector has the highest employment level. While the sector improves, currently the major sector is still in Yerevan, and not in the other cities of Armenia.

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In 2010, retail trade turnover was largely unaltered compared to 2009. The existing monopolies throughout the retail sector have made the sector non-responsive to the crisis and resulted in near zero growth. The aftermath of the crisis has started to shift the structure in the retail sector in favor

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By the end of the 1920s, Stalin's regime had revoked the NEP and re-established the centralised state monopoly on all economic activity. Once this occurred, the main goal of the Soviet economic policy in Armenia was to turn a predominantly agrarian and rural republic into an industrial and urban one.

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Since 2000 the Russian state has acquired several key assets in the energy sector and Soviet-era industrial plants. Property-for-debt or equity-for-debt swaps (acquiring ownership by simply writing off the Armenian government's debts to Russia) are usually the method of acquiring assets. The failure

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Since transition of power to new leadership in 2018 Armenian government works on improving domestic business environment. Numerous formerly privileged business are now required to pay taxes and officially register all workers. Mainly due to this there were 9.7% more payroll employees registered in

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In 2017 Armenia imported $ 3.96B, making it the 133rd largest importer in the world. During the last five years the imports of Armenia have decreased at an annualized rate of -1.2%, from $ 3.82B in 2012 to $ 3.96B in 2017. The most recent imports are led by Petroleum Gas which represent 8.21% of the

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In Armenia's external debt ($ 5.5 billion as of January 1, 2018), the arrears for multi-country credit programs dominate – 66.2% or $ 3.6 billion, followed by debt on bilateral loan programs - 17.5% or $ 958.9 million and investments of non-residents in Armenian Eurobonds – 15,4% or $ 844.9 million.

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in Armenia was dependent on them making a complementary effort to fill the gap in the financial services sector. Its primary goal was to deal with the rising unemployment and poverty brought on by transitory shock. In this context, self-employment in the country emerged as one of the best options to

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The amount of interest paid on the public debt rose significantly (from AMD 11 billion in 2008 to AMD 46.5 billion in 2013), as did the amount of principle repayments (from annual repayments of US$ 15–16 million in 2005-2008 exceeding US$ 150 million in 2013). This is a significant financial load on

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Industrial output was relatively positive throughout 2010, with year-on-year average growth of 10.9 percent in the period January to September 2010, due largely to the mining sector where higher global demand for commodities led to higher prices. According to the National Statistical Service, during

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by the Armenian government (per WTO requirements). In addition, the share of agriculture in Armenia's GDP hovered around 17.9% until 2012 according to the World Bank. Then already in 2013 the share of it was a bit higher comprising 18.43%. Afterwards a declining trend was registered in the period of

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By 1994, however, the Armenian government had launched an ambitious IMF-sponsored economic liberalization program that resulted in positive growth rates in 1995–2005. The economic growth of Armenia expressed in GDP per capita was one of strongest in the CIS. GDP went from $ 350 to more than $ 800 on

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A period of chronic shortages, was the first stage of price deregulation, which allowed goods to stay in Armenia as opposed to being exported for better prices; the inflation rates were 10 percent in 1990, 100 percent in 1991, and 642.5 percent during the first four months of 1992, compared with the

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Armenia's industry was especially dependent on the Soviet military-industrial complex. About 40% of all enterprises in the republic were devoted to defense, and some factories lost 60% to 80% of their business in the last years of the Soviet Union, when massive cuts were made in the national defense

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Armenia's foreign trade turnover increased by 11.6 percent in January–May 2021, compared to an 11.2 percent decline a year earlier, owing to a reversal of the y-o-y dynamics of exports and imports from 8.1 to 12.8 percent decline to 20.8-6.7 percent growth, according to preliminary data from the RA

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VAT (Value Added Tax): In Armenia, VAT-paying individuals subtract the VAT paid on their inputs from the VAT levied on their sales and account to the tax authorities for the difference. The standard rate of VAT on domestic sales of goods and services, as well as imports importation, is 20%. Exports

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The Stalinist command economy, in which market forces were suppressed and all orders for production and distribution came from the state authorities, survived in all its essential features until the fall of the Soviet regime in 1991. In the early stages of the communist economic revolution, Armenia

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For Armenians another feature of migration was an increase in a variety of threats. The journey itself was extremely dangerous. To pay their way, may departing migrants took out loans failed, the whole family's future was put at a risk. As a consequence, the practice of delaying or refusing to pay

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In 2010 the volume of US assistance to Armenia remained near 2009 levels; however, longer-term decline continued. The original Millennium Challenge Account commitment for $ 235 million had been reduced to about $ 175 million due to Armenia's poor governance record. Thus, the MCC would not complete

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In 2018 the country's structural trade imbalance was predicted to be 15.7 percent of GDP (World Bank). According to World Trade Organization data, Armenia exported commodities worth US$ 2.4 billion in 2018, up 7% from the previous year, and imported goods worth US$ 4.9 billion, up 18%. In terms of

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The European Union (28.7% of total exports), Russia (26.9%), Switzerland (14.1%), and Iraq (14.1%) are Armenia's largest export partners (6.3 percent ). The Russian Federation is the most important import partner (26.2%), followed by the EU (22.6%), China (13.8%), and Iran (13.8%). (5.6 percent ).

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Net private transfers decreased in 2009, but saw a continuous increase during the first six months of 2010. Since private transfers from the Diaspora tend to be mostly injected into consumption of imports and not in high value-added sectors, the transfers have not resulted in sizeable increases in

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In 1991, Armenia's last year as a Soviet republic, national income fell 12% from the previous year, while per capita gross national product was 4,920 rubles, only 68% of the Soviet average. In large part due to the earthquake of 1988, the Azerbaijani blockade that began in 1989 and the collapse of

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According to the agreement signed in 2020 EU will provide Armenia with 65 million euros for implementation of three programs in such areas as energy efficiency, environment and community development and formation of tools for implementation of the Comprehensive and Enhanced Partnership Agreement.

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In 2010 EU countries accounted for 32.1 percent of Armenia's foreign trade. Germany is Armenia's largest trading partner among EU member states, accounting for 7.2 percent of trade; this is due largely to mining exports. Armenian exports to EU countries have skyrocketed by 65.9 percent, making up

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has not been resolved. The consequent blockade along both the Azerbaijani and Turkish borders has devastated the economy, because of Armenia's dependence on outside supplies of energy and most raw materials. Land routes through Azerbaijan and Turkey are closed; routes through Georgia and Iran are

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The economic downturn that began in 1989 worsened dramatically in 1992. According to statistics, the GDP declined by 37.5 percent in 1991 compared to 1990, and all sectors contributing to the GDP decreased in production. The collapse of industry in favor of agriculture, whose products were mostly

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government (in office until 2008) say that the Armenian administration never considered alternative ways of settling the Russian debts. According to economist Eduard Aghajanov, Armenia could have repaid them with low-interest loans from other, presumably Western sources, or with some of its hard

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As of early 2011 trade with China is dominated by imports of Chinese goods and accounts for about 10 percent of Armenia's foreign trade. The volume of Chinese-Armenian trade soared by 55 percent to $ 390 million in January–November 2010. Armenian exports to China, though still modest in absolute

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From January 1, 2020, the republic will abandon two alternative tax systems - self-employed and family entrepreneurship. They will be replaced by micro-entrepreneurship with a non-taxable threshold of up to 24 million drams. Business entities that carry out specialized activities, in particular,

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The central bank has set additional capital buffers in the banking sector. In force since April 2019, the regulator set three buffers exceeding the current capital adequacy requirement compliant with the Basel III regulation: a capital conservation buffer, a counter-cyclical capital buffer and a

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The digital economy is a branch of the economy based on digital computing technologies. The digital economy is sometimes referred to as the Internet economy or the web economy. The digital economy is often intertwined with the traditional economy, making it difficult to distinguish between them.

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Since gaining independence in 1991, hundreds of thousands of Armenia's residents have gone abroad, mainly to Russia, in search of work. Unemployment has been the major cause of this massive labor emigration. OSCE experts estimate that between 116,000 and 147,000 people left Armenia for economic

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serves as Armenia's sole overland route to the former Soviet Union and Europe. It was controversially shut down by the Russian authorities in June 2006, at the height of a Russian-Georgian spy scandal. Upper Lars is the only land border crossing that does not go through Georgia's Russian-backed

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currency reserves which then totaled about $ 450 million. Furthermore, Aghajanov points to the Armenian government's failure to eliminate widespread corruption and mismanagement in the energy sector – abuses that cost Armenia at least $ 50 million in losses each year, according to one estimate.

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On March 27, 2006, the Millennium Challenge Corporation signed a five-year, $ 235.65 million compact with the Government of Armenia. The single stated goal of the "Armenian Compact" is "the reduction of rural poverty through a sustainable increase in the economic performance of the agricultural

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For the whole Armenian economy and international commerce, 2020 was a year of decline. In a variety of areas Armenian commodities are being exported and imported at a lower rate. According to the Armenian Statistical Committee, Armenia exported goods worth $ 2.544 billion in 2020, a fall of 3.9

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was the driving force behind Armenia's recent high economic growth rate. Between 2017 and 2019, Armenia's economy increased fast, with annual rate of GDP growth averaging 6.8 percent. Following the political realignment of 2018, prudent macroeconomic policy helped develop a track record of

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Armenia experienced a construction boom during the latter part of the 2000s. According to the National Statistical Service, Armenia's booming construction sector generated about 20 percent of Armenia's GDP during the first eight months of 2007. According to a World Bank official, 30 percent of

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Under the old Soviet central planning system, Armenia had developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics in exchange for raw materials and energy. Since the implosion of the USSR in December 1991, Armenia has switched to

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Worldwide, women's unemployment rate is 6%, higher than men's by about 0.8 points. According to International Labor Organization, Armenia has the highest women's unemployment rate in post-Soviet countries, equaling 17.3% for women above 25. If we compare this rate with those of the neighboring

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In 2007 cash remittances through bank transfers rose by 37 percent to a record-high level of US$ 1.32 billion. According to the Central Bank of Armenia, in 2005, cash remittances from Armenians working abroad reached a record-high level of $ 1 billion, which is worth more than one fifth of the

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of about 1.5 million Armenian inhabitants in their own homeland which caused total property and financial collapse when all of their assets and belongings were forcibly taken away by the Turks, the consequences of which after 105 years to this day remain incalculable, revolution, the influx of

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The “Alliance” FEZ was opened in August 2013, and currently has nine businesses taking advantage of its facilities. The focus of “Alliance” FEZ is on high-tech industries which include information and communication technologies, electronics, pharmaceuticals and biotechnology, architecture and

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According to most recent (2019 Jan-Feb compared to 2018 Jan-Feb) ArmStat calculations, biggest growth in export quantities was measured towards Turkmenistan by 23.6 times (from $ 37K to $ 912K), Estonia by 15 times (from $ 8.4K to $ 136.5K) and Canada by 11.5 times (from $ 623K to $ 7.8 mln).

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Geographical location of the country and relatively low electricity costs are comparative advantages supporting to boost the production of the textile and leather products in Armenia. Proximity to Europe in comparison with manufacturers in East Asia creates opportunity to strengthen Armenia's

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The number of Iranian tourists has risen in recent years, with an estimated 80,000 Iranian tourists in 2010. In January 2021, Iran's finance minister Farhad Dejpasand said that trade between the two countries could reach $ 1 billion annually as Iran looks to become a regional economic force.

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Armenia revised the country's fiscal rules in 2018, setting a permissible threshold for public debt in the amount of 40, 50 and 60% of GDP. At the same time, it established that in case of force majeure situations such as natural disasters, wars, the government will be allowed to exceed this

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is an indication of the unsustainability of a sector based on an elite market, with few products for the median or low budgets. This decrease comes despite the fact that an important component of the government stimulus package was to support the completion of ongoing construction projects.

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The reform adopted in June 2019 aims to boost medium-term economic activity and to increase tax compliance. Among other measures, the corporate income tax was reduced by two percentage points to 18.0 per cent and the tax on dividends for non-resident organisations halved to 5.0 per cent.

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The current account deficit represented 2.4 percent of GDP in 2017 and increased up to 8.1 percent of GDP during the first three quarters of 2018. This was a result of about 8 percent increase in goods export and 21 percent increase on goods import in nominal terms year on year in 2018.

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average between 1995 and 2003. Three principal factors explain this result: the credibility of the macroeconomic policies of stabilization, the correction effect following the depression, and the importance of external transfers, in particular since 2000. Armenia became a member of the

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of the former Soviet Union contributed to a severe economic decline in the early 1990s. Political instability and the threat of war placed a significant strain on economic development. Despite robust growth in recent years, the problem of geopolitical uncertainty resurfaced during the

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The volume of Georgian–Armenian trade remains modest in both relative and absolute terms. According to official Armenian statistics it rose by 11 percent to $ 91.6 million in January–November 2010. The figure was equivalent to just over 2 percent of Armenia's overall foreign trade.

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was $ 205.6 million (double the amount from the same period the previous year), making them the country's number one trading partner. During the first 11 months of 2006, the volume of Armenia's trade with Russia was $ 376.8 million or 13.2 percent of the total commercial exchange.

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Various basic foodstuffs such as rice, sugar, wheat, cooking oil and butter (the Salex Group enjoys a de facto monopoly on imports of wheat, sugar, flour, butter and cooking oil. Its owner was a parliament deputy Samvel Aleksanian (a.k.a. "Lfik Samo") and close to the country's

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The first Soviet Armenian government regulated economic activity stringently, nationalizing all economic enterprises, requisitioning grain from peasants, and suppressing most private market activity. This first experiment of state control ended with the advent of Soviet leader

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Cash remittances from Armenians working abroad — mostly in Russia and the United States — contribute significantly to Armenia's Gross Domestic Product making up 14% of GDP in 2018. They help Armenia sustain double-digit economic growth and finance its massive trade deficit.

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expenditures. As the republic's economy faced the prospects of competing in world markets in the mid-1990s, the great liabilities of Armenia's industry were its outdated equipment and infrastructure and the pollution emitted by many of the country's heavy industrial plants.

4906:. However, the rail link between Abkhazia and other Georgian regions has been closed for a number of years, forcing Armenia to receive rail cars laden with cargo only through the relatively expensive rail-ferry services operating between Georgian and other Black Sea ports. 2548:

there is a new mall opened called Shirak Mall. Another reason for the development of the retail is the development that happened in the banking industry. Today people can easily get financial assistance from the banks right to their credit cards, without visiting the bank.

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According to the National Statistical Service, Armenia's government debt stood at AMD 3.1 trillion (about $ 6,4 billion, including $ 5,1 billion of external debt) as of November 30, 2017. Armenia's debt-to-GDP ratio will drop by 1% in 2018 according to finance minister.

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As of February 2019 nearly 23 thousand employees were counted in ICT sector. With 404 thousand AMD they enjoyed highest pay rate among surveyed sectors of economy. Average salaries in pure IT sector (excluding communications sub-sector) stood at 582 thousand AMD.

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The inflation rate in Armenia in 2020 was 1.21 percent, a 0.23 percent decrease over 2019, in 2019 was 1.44 percent, a 1.08 percent decrease over 2018, in 2018 was 2.52 percent, up 1.55 percent from 2017 and in 2017 was 0.97 percent, a 2.37 percent rise from 2016.

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The economy of Armenia had grown by 7.5% in 2017 and reached a nominal GDP of $ 11.5 billion per annum, while per capita figure grew by 10.1% and reached $ 3880. With 7.29% Armenia was second best in GDP per capita growth terms in Europe and Central Asia in 2017.

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800 million. These loans are targeted at reducing the budget deficit, stabilizing the local currency; developing private businesses; energy; the agriculture, food processing, transportation, and health and education sectors; and ongoing rehabilitation work in the

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According to the National Statistical Committee, in 2018, exports amounted to $ 2.411.9 billion, having grown by 7.8% from the previous year. After a boom of almost 93% in 2022, the IMF expects exports of goods and services to grow by 22% in 2023 and 8% in 2024.

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With curtailment of the MCC funding, the European Union may replace the US as Armenia's chief source of foreign aid for the first time since independence. From 2011 to 2013 the EU is expected to advance at least €157.3 million ($ 208 million) in aid to Armenia.

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While Armenia is not the only ex-Soviet state that has incurred multi-million-dollar debts to Russia over the past decades, it is the only state to have so far given up such a large share of its economic infrastructure to Russia. For example, pro-Western

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In 2019 the volume of bilateral trade with Turkey was about $ 255 million, with trade taking place across Georgian territory. This figure is not expected to increase significantly so long as the land border between the Armenia and Turkey remains closed.

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Political observers say that Armenia's economic cooperation with Russia has been one of the least transparent areas of the Armenian government's work. The debt arrangements have been personally negotiated by (then) Defense Minister (and later President)

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From January to September 2010, bilateral trade with the United States was about $ 150 million, on track for about a 30 percent increase over 2009. An increase in Armenia's exports to the US in 2009 and 2010 has been due to shipments of aluminum foil.

1329:

In the first post-communist years, efforts to interest foreign investors in joint enterprises were only moderately successful because of the blockade and the energy shortage. Only in late 1993 was a department of foreign investment established in the

4279: 4500:

In June 2011 Armenia adopted a Law on Free Economic Zones (FEZ), and developed several key regulations at the end of 2011 to attract foreign investments into FEZs: exemptions from VAT (value added tax), profit tax, customs duties, and property tax.

4272: 9198: 1278:

of the Soviet Union (1.2% of industry, 0.7% of agriculture). The republic retained 1.4% of total state budget revenue, delivered 63.7% of its NMP to other republics, and exported only 1.4% of what it produced to markets outside the Soviet Union.

2509:

was the single largest contributor to the country's GDP, but remained largely stagnant with industrial output increasing only by 1.7 percent per year. In 2005, Armenia's industrial output (including electricity) made up about 30 percent of GDP.

1321:

Beginning in 1991, the democratically elected government pushed vigorously for privatisation and market relations, although its efforts were frustrated by the old ways of doing business in Armenia, the Azerbaijani blockade, and the costs of the

2544:

The development that happened in this sector was the opening of Dalma Garden Mall, and later Yerevan mall, Rio mall and Rossia mall, which dramatically increased the quality of retail in Yerevan. Currently there is a new development, as in

5165:

part or all of a migrant workers wages has become common. The risks were also heightened by many emigrants failure. This type of migration inherited almost all of the negative characteristics that described pre-transition labor migration.

3371: 2446:

Real estate transactions count grew by 36% in September 2019 compared to September 2018. Also, the average market value of one square meter of housing in apartment buildings in Yerevan in September 2019 grew by 10.8% from September 2018.

4274: 3521:

The global economic crisis has had less impact on imports because the sector is more diversified than exports. In the first nine months of 2010, imports grew about 19 percent, just about equal to the decline of the same sector in 2009.

4508:

In 2015 another “Meridian” FEZ, focused on jewelry production, watch-making, and diamond-cutting opened in Yerevan, with six businesses operating in it. The investment programs for these companies must still be approved by government.

4702:

On November 5, 2002, Armenia transferred control of 5 state enterprises to Russia in an assets-for-debts transaction which settled $ 100 million of Armenian state debts to Russia. The document was signed for Russia by Prime Minister

9109: 1428:(WTO) in January 2003. Armenia also has managed to slash inflation, stabilize its currency, and privatize most small- and medium-sized enterprises. Armenia's unemployment rate, however, remains high, despite strong economic growth. 1334:, to spread information about Armenia's investment opportunities and improve the legal infrastructure for investment activity. A specific goal of this agency was creating a market for scientific and technical intellectual property. 1337:

A few Armenians living abroad made large-scale investments. Besides a toy factory and construction projects, diaspora Armenians built a cold storage plant (which in its first years had little produce to store) and established the

3489:

approach. The study explored Armenia's trade flows to 139 countries for the period of 2003 to 2007. According to the results of the paper, the authors concluded that "Armenia has exceeded its export potential almost with all the

1092:

and textiles; it was highly dependent on outside resources. Armenian mines produce copper, zinc, gold and lead. The vast majority of energy is produced with imported fuel from Russia, including gas and nuclear fuel for Armenia's

7642: 5096:

publication based on data retrieved from employers and national income service cites 560,586 payroll positions in January 2019, an increase of 9.9% against previous year. This however does not match survey data published by the

3125:

systemic risk buffer. Full implementation of the buffers over the course of the next few years will strengthen the financial sector's resistance to economic shocks and help increase the efficiency of macroprudential policies.

1394:

Armenia has registered strong economic growth since 1995 and inflation has been negligible for the past several years. New sectors, such as precious stone processing and jewelry making and communication technology (primarily

4505:

engineering, industrial design and alternative energy. In 2014, the government expanded operations in the Alliance FEZ to include industrial production as long as there is no similar production already occurring in Armenia.

1369:

and the breakdown of former Soviet trading patterns. Soviet investment in and support of Armenian industry has virtually disappeared, so that few major enterprises are still able to function. In addition, the effects of the

8548: 4755:

from 45% to 58% by approving an additional issue of shares worth $ 119 million. This left the Armenian government with a 32% stake in ArmRosGazprom. The transaction will also help finance ArmRosGazprom's acquisition of the

6055: 2986:

The debt rose by $ 863.5 million in 2016 and by another $ 832.5 million in 2017. It totalled just $ 1.9 billion before the 2008-2009 (13.5% of GDP) global financial crisis that plunged the county into a severe recession.

3585:

totaled $ 200 million. During the first 11 months of 2006, the European Union remained Armenia's largest trading partner, accounting for 34.4 percent of its $ 2.85 billion commercial exchange during the 11-month period.

3075:

In 2008 transfers reached record high of $ 2.3 billion. In 2015 they reached 10-year low at $ 1.6 billion. In 2018, they run at round $ 1.8 billion. $ 0.8 billion were transferred in first half of 2019. According to

3369: 5168:

During the workshop, participants addressed the increasing importance of migration as a growth factor, as well as the significance of SDG Target 10.7 on anticipated and well-managed migration policies for Armenia.

5154:

reasons between 2002 and 2004, with two-thirds of them returning home by February 2005. According to estimates by the National Statistical Survey, the rate of labor emigration was twice as higher in 2001 and 2002.

5112:

The unemployment rate increased to 19% in 2018 before dropping to 18.3% in 2019 and 18.2% in 2020, having remained basically unchanged since 2009. At the same time, an estimated 60% of workers were employed in the

1353:

in September. A year later, the government complained that those organisations were holding back financial assistance and announced its intention to move toward fuller price liberalisation, and the removal of all

3228:

accounting, advocacy, and consulting will not be considered as micro-business entities. Micro business will be exempted from all types of taxes other than income tax, which will be 5 thousand drams per employee.

7510: 5117:

in 2019. The strong economic growth of 2021 and 2022 led to a significant drop in unemployment to 15.3% and 13% respectively, causing a substantial reduction in the proportion of the population living below the

3209:

From January 1, 2020, Armenia will switch to a flat income taxation system, which, regardless of the amount will tax wages at 23%. Moreover, until 2023 the taxation rate will gradually decrease from 23% to 20%.

3361: 4275: 2400:

Armenia's agricultural output dropped by 17.9 percent in the period of January–September 2010. This was owing to bad weather, a lack of a government stimulus package, and the continuing effects of decreased

2966:

After reaching nearly 60.0 per cent of GDP, the public debt to GDP ratio decreased by approximately three percentage points in 2018 compared with a year before and stood at 55.7 per cent at the end of 2018.

1077:. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key banking indicators like assets and credit exposures almost doubled. 612:, metal-cutting machine tools, forging and pressing machines, electric motors, knitted wear, hosiery, shoes, silk fabric, chemicals, trucks, instruments, microelectronics, jewelry, software, food processing 9722: 9657: 1069:, or $ 19.5 billion. At the same time, Armenia's foreign trade turnover significantly accelerated in growth from 17.7% in 2021 to 68.6% in 2022. GDP contracted sharply in 2020 by 7.2%, mainly due to the 3184:

percent from 2019. Armenia imported items worth 4.559 billion dollars in 2020, down 17.7% from the previous year.The volume of Armenia's international trade has varied throughout the previous 10 years.

2409:

In 2022, the industry with the highest number of companies registered in Armenia is Services with 1,907 companies followed by Wholesale Trade and Manufacturing with 510 and 408 companies respectively.

9627: 5822: 9302: 8848: 5003:

As of October 2008 the Armenian government was considering implementing an ambitious project to build a railway to Iran. The 400 kilometer railway would pass through Armenia's mountainous southern

3600:

Bilateral trade with Russia stood at more than $ 700 million for the first nine months of 2010 – on track to rebound to $ 1 billion mark first reached in 2008 prior to the global economic crisis.

3364: 5101:, according to which in 4th quarter of 2018 there were 870.1 thousand persons employed against 896.7 thousand employed persons in 4th quarter of 2017. The mismatch was highlighted by former PM 3366: 2963:

In 2019, the Armenian government planned to obtain about $ 490 million in fresh loans rising public debt to about $ 7.5 billion. Just over $ 6.9 billion of that would be the government's debt.

8370: 11072: 5109:

survey counted 915.5 thousand employed persons, an increase of 1.4% against previous year. In the same period unemployment rate of economically active population dropped from 20.8% to 20.4%.

8073: 11018: 9101: 10091: 3825:

was the main source of FDI in 2017. Moreover, combined net FDI from all other sources was negative, indicating capital outflow. The tax haven Jersey is home to an Anglo-American company,

9988: 4732:

three research-and-production enterprises — for mathematical machines, for the study of materials, and for automated control equipment — these being Soviet-era military-industrial plants

11321: 8581: 8516: 7646: 6884: 3474:

The goods export structure changed considerably in 2018 as the export of the traditional mining sector decreased while the share of textiles, agriculture and precious metals increased.

3095:, comparable sums are believed to be transferred through non-bank systems, implying that cash remittances make up approximately 30 percent of Armenia's GDP in the first half of 2008. 10586: 10560: 10356: 10335: 10314: 10247: 10226: 10191: 9357: 8786: 8539: 8487: 8459: 5325: 5072:

It is estimated that wages rise at 0.8% for each additional year of experience and "the ability to solve problems and learn new skills yields a wage premium of nearly 20 percent".

1411:, as well as other international financial institutions (IFIs) and foreign countries are extending considerable grants and loans. Total loans extended to Armenia since 1993 exceed 447: 6051: 9816: 4811:, had little say on the issue. Furthermore, all of the controversial agreements have been announced after Sarkisian's frequent trips to Moscow, without prior public discussion. 1399:, which is left from the USSR era and is owned by external investors). This steady economic progress has earned Armenia increasing support from international institutions. The 4689: 4276: 9958: 5718: 4600:

Oil import and distribution (claimed by Armenian opposition parties to belonging to a handful of government-linked individuals, one of which – "Mika Limited" – is owned by

4249:

During the sector consolidation process in 2014–2017 the share of foreign capital in the authorized capital of the Armenian commercial banks decreased from 74,6% to 61,8%.

4484:

In April 2019 Armenian parliament approved reforms of management of joint stock companies effectively enacting a blocking minority shareholders stake of 25% to cope with

4740:

signed an investment cooperation agreement, under which United Company RUSAL (which already owned a 76% stake) acquired the Armenian government's remaining 26% share of

3559: 2279: 9449: 7502: 7291: 4278: 1298:

first four months of 1991. Thus, there were two opposing dynamics: price increases in response to shortages and falling incomes due to the recession and unemployment.

6282: 2924:

Despite internal and external problems, the number of incoming tourists has been continually increasing. 2018 saw a record high of over 1.6 million inbound tourists.

11361: 7055: 5295: 4635:". "The result is the prices with us do not drop even if they do on international market, or they do quite belated and not to the size of the international market." 8168: 4277: 10642: 9714: 11446: 11441: 11436: 11431: 11426: 11421: 11416: 11411: 11406: 11401: 11396: 11391: 11386: 10681: 7643:"Թվային տնտեսություն, թվային հաշվիչ տեխնոլոգիաների վրա հիմնված տնտեսություն։ Թվային տնտեսությունը երբեմն անվանում են համացանցային տնտեսություն, նոր տնտեսություն" 9649: 4601: 6341: 3667:

Foreign direct investment (FDI) into Armenia decreased by US$ 2.7 million in December 2020, compared to a reduction of US$ 10.3 million the previous quarter.

9619: 5814: 4873:

Yerevan Central Bus Station, also known as Kilikia Bus Station, is Yerevan's primary bus terminal, linking buses to both domestic and foreign destinations.

4102:

By the end of 2017 stock net FDI (for the period 1988–2017) reached 1824 billion AMD, while gross flow of FDI for the same period reached 3869 billion AMD.

8837: 8254: 7025: 9294: 5129:

World Bank research also reveals that employment rate fell in years 2000–2015 in middle- and low-skill occupations, while it grew high-skill occupations.

2931:

amounted to $ 1.2 billion, nearly twice the value for 2010. In per capita terms these stood at $ 413, ahead of Turkey and Azerbaijan, but behind Georgia.

6824: 1362:

informed the United States officials in the fall of 1993 that plans had been made to embark on a renewed privatisation programme by the end of the year.

3578:

more than half of all 2010 January to September exports. Imports from EU countries increased by 17.1 percent, constituting 22.5 percent of all imports.

14186: 11216: 9053: 7888: 4924: 4414: 2262:

The Armenian economy performed poorly in 2020, and contracted by 7.2% after years of consecutive growth. The two biggest contributing factors were the

1431:

The chronic energy shortages Armenia suffered in the early and mid-1990s have been offset by the energy supplied by one of its nuclear power plants at

95: 91: 10744: 8756: 5022:

In 2010 it was confirmed that Turkey will keep the border closed for the foreseeable future after the Turkey-Armenia normalization process collapsed.

2438:

In 2017, mineral product (without precious metals and stones) exports grew by 46.9% and run at US$ 692 million, which comprised 30.1% of all exports.

11065: 10453: 9530: 8362: 1374:, which killed more than 25,000 people and made 500,000 homeless, are still being felt. Although a cease-fire has held since 1994, the conflict with 11011: 8898: 7726: 5778: 5748: 5689: 4512:

The Armenian government approved the program to construct the Meghri free economic zone at the border with Iran, which is expected to open in 2017.

11466: 8065: 5844: 5057:

In 2018, about 30% of wage workers were organized in unions. At the same time, rate of unionization was dropping at average rate of 1% since 1993.

1481:

Nominal GDP per capita was approximately $ 4,196 in 2018 and is expected to reach $ 8,283 in 2023, surpassing neighbouring Azerbaijan and Georgia.

1408: 8400: 6687: 11653: 9689: 6026: 3568:

In 2022 Armenia's bilateral trade with the EU topped $ 2.3 billion, making the EU one of Armenia's biggest and most important economic partners.

10083: 9783: 7411: 4429:

road construction. Instead, the irrigated agriculture project was headed for completion with apparently no prospects for extension beyond 2011.

2270:. In the first half of 2020, the Armenian economy was negatively impacted by the economic restrictions that were implemented in response to the 11331: 9980: 7195: 5800: 1358:, quotas, and restrictions of foreign trade. Although privatisation had slowed because of catastrophic collapse of the economy, Prime Minister 8573: 8508: 6876: 5655: 13739: 13134: 11239: 10804: 8693:"Armenian parliament adopted amendments to Tax Code: changes are aimed at improving the competitiveness of the national economy | Finport.am" 7381: 3730:

in January–September 2019 the net flow of direct foreign investment in the real sector of the Armenian economy stood at about $ 267 million.

271: 7351: 6392:. Human development report / publ. for the United Nations Development Programme (UNDP). New York, NY: United Nations Development Programme. 4984:. The other two roads linking Georgia and Russia run through South Ossetia and Abkhazia, effectively barring them to international traffic. 3574:

In 2017 EU countries accounted for 24.3 percent of Armenia's foreign trade. Whereby exports to EU countries grew by 32,2% to $ 633 million.

8997: 5486: 5039:

statistical update, Armenia had the highest percentage of employment in services (49.7%) and lowest share in agriculture (34.4%) among the

4768: 2934:

In 2019 the largest growth at 27.2% was shown by accommodation and catering sector, which came as a result of the growth of tourist flows.

431: 8340: 12403: 12028: 10583: 10557: 10503: 10351: 10330: 10309: 10295: 10281: 10242: 10221: 10207: 10186: 10172: 10158: 10133: 10112: 9354: 9326: 9023: 8778: 8724: 8484: 8456: 8224: 7691: 7573: 7326: 6992:"Time series, GDP index-deflator (ratio of GDP at current prices to the volume of GDP at comparable prices of the previous year), %" 5317: 4653:

In early 2008 the State Commission for the Protection of Economic Competition named 60 companies having "dominant positions" in Armenia.

2457:

However, during the January to September 2010 period, the sector experienced a 5.2 percent year-on-year decrease, which according to the

1447:

440 Model V230 light-water-cooled reactors as the "oldest and least reliable" category of all the 66 Soviet reactors built in the former

10614: 10392: 10049: 7595: 9875: 4579: 4568: 3670:

Armenia foreign direct investment: USD mn Net Flows data is available from March 1993 through December 2020, and is updated quarterly.

591: 574: 9808: 6311: 2960:

the state budget. Because of additional borrowings and lower concessionality of new loans, the burden might rise in the future years.

11275: 6120: 5884: 4022:

Negative values indicate investments of Armenian corporations to foreign country exceeding investments from that country in Armenia.

1315: 277: 7997: 5528: 2397:

comprises on average 25 percent of Armenia's GDP. In 2006, the agricultural sector accounted for about 20 percent of Armenia's GDP.

13215: 11326: 11259: 10519: 10372: 5970: 5946: 3597:

2017 CIS countries accounted for 30 percent of Armenia's foreign trade. Exports to CIS countries rose by 40,3% to $ 579,5 million.

10866: 9751: 9475: 9417: 9176: 9142: 8700: 8637: 8284: 8277:"Vardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDP | Finport.am" 7793: 7758: 5714: 1237:

At the beginning of the 20th century, the territory of present-day Armenia was an agricultural region with some copper mining and

14191: 13083: 12348: 11628: 9950: 9848: 9602: 7440: 3563: 2918: 2283: 1495:

Armenian GDP PPP (measured in current international dollar) grew total of 316% per capita in 2000–2017, sixth-highest worldwide.

1282:

Agriculture accounted for only 20% of net material product and 10% of employment before the breakup of the Soviet Union in 1991.

10263: 7667: 13144: 11336: 11311: 11209: 7477: 5862: 5774: 5744: 10714: 9441: 8954:

Barseghyan, Gayane; Hambardzumyan, Hayk (2018). "The effects of exchange rate volatility on exports: Evidence from Armenia".

7310: 7304: 6667: 6634: 6397: 6372: 5080:

It was reported that in 2020 there was a drop in the unemployment rate in Armenia from 16.99% in 2019 to 16.63% in 2020. The

903: 10774: 9873:"Armenia and Millennium Challenge Corporation: Building a Dynamic Partnership for Poverty Reduction through Economic Growth" 9102:"Foreign trade figures of Armenia - Economic and Political Overview - International Trade Portal International Trade Portal" 9046:"Foreign trade figures of Armenia - Economic and Political Overview - International Trade Portal International Trade Portal" 8314: 6995: 6969: 6252: 4252:

Net FDI in founding capital of financial institutions accumulated by end of September 2017 is presented in pie chart below.

2581:

According to Moody's, robust economic growth will benefit banks with GDP growth remaining robust at around 4.5% in 2019–20.

13724: 12808: 11658: 10958: 10834: 6274: 5599: 3149:

has been proposed as an adaptable instrument to assist people in transition economies take advantage of new opportunities.

1215: 947: 7620: 7047: 6732: 5287: 2435:

In 2017, mining industry output with grew by 14.2% to 172 billion AMD at current prices and run at 3.1% of Armenia's GDP.

1097:. The main domestic energy source is hydroelectric. Small amounts of coal, gas and petroleum have not yet been developed. 13714: 13657: 13574: 13058: 12143: 11346: 11173: 9238: 9075: 8877: 8611: 8160: 7115: 5016: 4747:

On November 1, 2006, the Armenian government handed de facto control of the Iran-Armenia gas pipeline to Russian company

13496: 10635: 10423: 7856: 7544: 6795: 6475: 6222: 13491: 12531: 12266: 10674: 4031: 3491: 1179: 1085: 996: 640:

unwrought copper, pig iron, nonferrous metals, gold, diamonds, mineral products, foodstuffs, brandy, cigarettes, energy

180: 10989: 9564: 8107: 6710: 1941:

This is a list of provinces of Armenia by nominal GDP shown in Armenian dram and US$ . Statistics shown are for 2017.

14151: 13228: 13103: 12461: 11688: 11202: 10138: 10117: 9329: 8937: 8727: 7983: 7694: 7228: 5993: 5522: 5193:

has introduced a pollution fee system by which taxes are levied on air and water emissions and solid waste disposal.

5190: 4993: 4807:, initially Kocharyan's closest political associate. Other top government officials, including former Prime Minister 4459: 3594:

In the first quarter of 2019, share of Russia in foreign trade turnover fell to 11% from 29% from the previous year.

3158: 2558: 1501: 1470: 1149:, contributing to a 7.2% drop in GDP. Armenia's public debt rose to 67.4% in 2020, but fell below 50% again in 2022. 4030:

FDI stock to GDP ratio grew continuously during 2014–2016 and reached 44.1% in 2016, surpassing average figures for

1306:

Armenia introduced elements of the free market and privatisation into their economic system in the late 1980s, when

14018: 12018: 11351: 6659:

Commonwealth of Independent States (CIS) Industry: Clothing Industry Directory - Strategic Information and Contacts

6333: 6100: 5914: 5462: 5133: 5106: 5098: 5093: 5081: 5066: 4729:"Mars" — electronics and robotics plant in Yerevan, a Soviet-era flagship for both civilian and military production 4418: 3673:

The statistics ranged from a high of US$ 425.9 million in December 2008 to a low of –67.6 USD mn in December 2014.

3145:

institutions in Armenia overlooked micro-business enterprises that lacked credit histories and sufficient funding.

2893:

since the 1990s when tourist numbers exceeded half a million people visiting the country every year (mostly ethnic

314: 17: 9900: 9386: 7503:"Some 15,572 real estate transactions effected in Armenia in 2019 September, by 36.1% more than in September 2018" 5621: 3481:

According to the study "Regional and International Trade of Armenia", authors investigated the trade potential of

1498:

GDP grew 40.7% between 2012 and 2018, and key banking indicators like assets and credit exposures almost doubled.

13433: 13428: 12396: 10474: 8043: 6910: 4612: 3676:

Armenia's current account surplus is US$ 51.7 million in December 2020, according to the most recent statistics.

3092: 2864:

Industry report on banking sector prepared by AmRating presents slightly varying figures for some of above data.

1383:

adequate and reliable. In 1992–93, the GDP had fallen nearly 60% from its 1989 level. The national currency, the

522: 302: 8246: 8138: 7017: 4692:(AEN) to Midland Resources, a British offshore-registered firm which is said to have close Russian connections. 2976:

Other sources quote Armenia's debt at $ 10.8 billion in September 2018, possibly including non-public debt too.

1435:. Armenia is now a net energy exporter, although it does not have sufficient generating capacity to replace the 14057: 13745: 13584: 13347: 12118: 11528: 11150: 10827:"Socio- Economic Situation of RA, January–February 2019 (Armenian, Russian) / Statistical Committee of Armenia" 10538:"Մեղրիի և Ագարակի գազամատակարարման ցանցն անհատույց հանձնվեց "Գազպրոմ Արմենիա"-ին. վաճառելու առաջարկը մերժվել է" 8667: 8634:"Armenia's external debt is mainly concentrated on loans of international financial organizations | Finport.am" 6877:"GDP per capita, PPP (current international $ ) - Armenia, Romania, Georgia, China, European Union | Data" 5257: 4604:, while the other – "Flash" – is owned by Barsegh Beglarian, a "prominent representative of the Karabakh clan") 1339: 528: 308: 186: 10018: 9269: 9079: 6820: 5000:

allows trade with that country. An oil pipeline to pump Iranian oil products is also in the planning stages.

1478:

According to official preliminary data GDP grew by 7.6 per cent in 2019, largest recording growth since 2008.

13824: 13794: 13630: 12775: 12668: 12481: 12226: 12193: 12148: 10899: 8430: 7881: 5092:

in January 2019, 562,043 payroll jobs were recorded, against of 511,902 in January 2018, an increase of 9.7%.

4771:

after previously buying 80 percent of said bank in November 2007 and 94.15 percent in July of the same year.

4561: 2949: 2475: 1331: 1186: 516: 296: 9045: 6620:

Asociación Española de Ingeniería Sísmica, ed. (1994). "Economic and social impacts of Armenia earthquake".

14068: 13985: 13752: 13677: 13243: 13208: 12893: 12734: 12506: 12153: 11728: 10736: 8748: 8194: 5267: 4475: 3169: 2271: 1436: 1222: 1204: 1197: 1094: 471: 459: 10450: 10374:

Price Predictions: With present inflation at nearly triple expectation, economists challenge 2009 forecast

9522: 6943: 3530:

According to the National Statistical Service foreign trade deficit amounted to US$ 1.94 billion in 2017.

1171:, Armenia is classified as "mostly free" and ranks 34th, improving by 13 positions and ahead of all other 14181: 14052: 14047: 13951: 13834: 13809: 13709: 13528: 13398: 13270: 13139: 11983: 8891: 8547:(2014-406 ed.). Paris: Department of Research, Ipag Business School Working Papers. pp. 13–14. 7715: 6761: 6087: 5770: 5740: 5677: 5449: 5384: 5291: 5247: 5237: 5183:

Environmental Project Implementation Unit implements projects related to Natural environment protection.

5178: 4757: 4669: 2267: 1506: 1400: 1346: 1146: 1141: 1074: 1062: 609: 605: 5595: 1158: 13522: 13098: 13003: 12749: 12701: 12593: 12588: 12389: 12296: 12063: 11998: 11958: 11254: 11105: 9682: 8392: 7085: 6683: 5161:

is a married man aged between 41 and 50 years who "began looking for work abroad at the age of 32–33."

1323: 1226: 1088:

was based largely on manufacturing industry—chemicals, electronic products, machinery, processed food,

9776: 6052:"ARKA: "Armenia's GDP has grown 40.7% over seven year and key banking indicators have almost doubled"" 6018: 4695:

In September 2002 the Armenian government handed over Armenia's largest cement factory to the Russian

4675: 2290:, individual consumption dropped by 9% in the first six months of 2020 due to the stay-at-home order. 14037: 13734: 13609: 13604: 13589: 13517: 13486: 7826: 7403: 6623:

Proceedings of the Tenth World Conference on Earthquake Engineering: 19 - 24 July 1992, Madrid, Spain

4786:

for cost-free use. Construction of these was funded by foreign aid and costed about 1.3 billion AMD.

4639: 3724: 1396: 1164: 1129: 1024: 966: 871: 10046:

Competitive Edge: The pitfalls of monopolies, and the challenges of a business-influenced parliament

8191:"ՀՀ պետական պարտքը նվազել է 86.5 մլն դոլարով կամ գրեթե 2 տոկոսով | Ֆակտոր տեղեկատվական կենտրոն" 8025: 6684:"World Hyperinflations | Steve H. Hanke and Nicholas Krus | Cato Institute: Working Paper" 5556: 4850:

Since early 2008, Armenia's entire rail network is managed by the Russian state railway under brand

3712: 3280: 3020: 14042: 14007: 13614: 13108: 12825: 12801: 12706: 12553: 11853: 11753: 11316: 11225: 10951:"Labour market in the Republic of Armenia, 2018 / Statistical Committee of the Republic of Armenia" 9231:"EU-Armenia Partnership Implementation Report: EU is a crucial partner for Armenia's reform agenda" 6390:

Beyond income, beyond averages, beyond today: inequalities in human development in the 21st century

5643: 5262: 4593: 4463: 4238: 3137: 3108: 2573: 1425: 83: 11043: 10796: 7373: 7160: 4823:(both of which owe Russia more than Armenia) have managed to reschedule repayment of their debts. 4719:

signed for Armenia. The five enterprises which passed to 100 percent Russian state ownership are:

2970:

The government's public debt at the end of 2019 stood at $ 6.94 billion, making 50.3% of its GDP.

14095: 13962: 13789: 13784: 13704: 13687: 13662: 13619: 13295: 13275: 13260: 13201: 13053: 13018: 12973: 12711: 12673: 12068: 12053: 12038: 11878: 11593: 11249: 9715:"Net foreign direct investment in Armenia's real sector in 9 months amount to 59.8 billion drams" 7343: 6218: 5252: 5052: 5036: 3604: 3088: 3077: 3061: 2973:

In March 2019 sovereign debt was $ 5488 million, $ 86.5 million (about 2%) less than a year ago.

2943: 2586: 1485: 1455:

has found that the Metsamor NPP has adequate safety and can function beyond its design lifespan.

1211: 1172: 1168: 1105: 412: 163: 87: 9650:"Economist: Armenia's authorities should not expect influx of foreign investment in near future" 8989: 5570: 5474: 14090: 13852: 13779: 13692: 12943: 12938: 12833: 12653: 12083: 12023: 11938: 11823: 11703: 11668: 11508: 11376: 11280: 9620:"Правительство Армении намерено довести уровень капитальных инвестиций до 23% от ВВП – министр" 8336: 4851: 4550: 4485: 3486: 2307: 1371: 1290:

imported throughout the Soviet period, changed the structure of sectoral contributions to GDP.

141: 10495: 9295:"Экспорт Армении по итогам 2017 года составил $ 2 242.9 млн., рост стал максимальным за 5 лет" 9019: 8216: 7940: 6621: 5815:"Armenia's Budget for 2023 to Increase to $ 6.4 Billion Largest in the History of the Country" 5186:

Armenia's greenhouse gas emissions decreased 62% from 1990 to 2013, averaging −1.3% annually.

1474:

GDP growth rates in Armenia and some neighboring countries and some regions in years 2010–2017

1100:

The severe trade imbalance has been somewhat offset by international aid and remittances from

13883: 13682: 13667: 13463: 13063: 13038: 12953: 12933: 12883: 12853: 12843: 12623: 12583: 12563: 12543: 12446: 12286: 12088: 12048: 11923: 11913: 11888: 11863: 11833: 11813: 11723: 11663: 11623: 11553: 11482: 10611: 10389: 10044: 9020:"OEC - The Observatory of Economic Complexity | OEC - The Observatory of Economic Complexity" 7592: 6458:"The Taboo within the Taboo: The Fate of 'Armenian Capital' at the End of the Ottoman Empire" 4682: 4521: 2928: 9872: 4454: 13980: 13844: 13729: 13699: 13672: 13599: 13552: 13149: 13028: 13023: 12903: 12739: 12558: 12281: 12163: 12073: 12058: 11943: 11893: 11788: 11773: 11743: 11543: 11533: 10077:

One or more of the preceding sentences incorporates text from this source, which is in the

8276: 6304: 6077: 5439: 4832: 4737: 4467: 4241:(EIB) has invested about 380 million euros in the various projects implemented in Armenia. 3830: 3826: 3199: 2458: 2402: 2206: 2140: 1275: 1045: 330: 8247:"Armenia Government Debt: % of GDP [2002 - 2019] [Data & Charts]" 6112: 5888: 3042:

For 2023 the IMF forecasts inflation at 3.5%, which is below most neighbouring countries.

8: 14029: 13930: 13819: 13814: 13645: 13123: 13093: 13043: 12998: 12978: 12968: 12868: 12794: 12759: 12744: 12691: 12638: 12633: 12608: 12466: 12321: 12316: 12306: 12211: 12183: 12103: 12098: 12078: 11988: 11973: 11908: 11873: 11768: 11708: 11683: 11678: 11648: 11613: 11608: 11578: 11558: 11462: 11356: 7965: 7617:"Դեպի թվային տնտեսություն․ Կկայանա Silicon Mountains գագաթնաժողովը (ՎԻԴԵՈ) | ArmBanks.am" 5508: 5242: 5232: 4665: 4406: 3193: 2882: 2394: 2162: 1439:

nuclear plant, which is under international pressure to close due to its old design. The

1263: 1182:

including Cyprus, Bulgaria, Romania, Poland, Belgium, Spain, France, Portugal and Italy.

12729: 10859: 10523: 10011:"State Commission for the Protection of Economic Competition of the Republic of Armenia" 9744: 7786: 7751: 5967: 5938: 4898:. During Soviet times, Armenia's rail network connected to Russia's via Georgia through 14144: 13945: 13866: 13829: 13579: 13569: 13340: 13236: 13068: 12983: 12963: 12848: 12663: 12613: 12573: 12526: 12521: 12511: 12496: 12491: 12486: 12471: 12456: 12451: 12441: 12431: 12426: 12311: 12261: 12251: 12241: 12236: 12231: 12216: 12206: 12201: 12168: 12158: 12138: 12123: 12043: 11953: 11928: 11918: 11903: 11848: 11843: 11798: 11778: 11738: 11693: 11603: 11598: 11573: 11548: 11518: 11513: 9841: 9595: 9470: 9412: 9168: 9131: 8971: 8692: 8013: 7989: 7470: 7433: 6170: 6082: 5544: 5444: 4972: 4808: 4712: 4035: 2901:). The Armenian Ministry of Economy reports that most international tourists come from 2873: 2578:

In January 2019 there were 20.5 thousand employees registered in the financial sector.

2526: 2275: 2263: 1070: 110: 41: 11472: 9923:"Հայաստանն ԱՄՆ-ից լրացուցիչ կտրամադրի 7,449,000 ԱՄՆ դոլարի չափով ֆինանսական հատկացում" 8633: 8363:"Armenia's economy is expected to see 7.1% growth in 2019, central bank official says" 8307:"Ժամանակագրական շարքեր / Հայաստանի Հանրապետության Ազգային վիճակագրության ծառայություն" 8066:"Armenian premier: Largest growth in 2019 shown by accommodation and catering - 27.2%" 7660: 2995:

National Statistics Office publishes official reference exchange rates for each year.

14000: 13990: 13970: 13913: 13893: 13878: 13804: 13719: 13512: 13393: 13362: 13335: 13178: 13113: 13048: 13013: 12948: 12928: 12918: 12878: 12863: 12858: 12754: 12696: 12658: 12648: 12628: 12618: 12603: 12598: 12578: 12548: 12516: 12501: 12476: 12412: 12331: 12301: 12276: 12256: 12246: 12221: 12178: 12133: 12128: 12093: 12013: 12008: 11978: 11963: 11898: 11868: 11828: 11808: 11793: 11758: 11748: 11618: 11588: 11583: 11563: 11523: 11290: 11146: 11139: 8975: 7993: 7979: 7300: 6663: 6630: 6549: 6393: 6368: 6174: 6162: 5518: 5123: 4895: 4820: 2898: 2506: 2471: 2418: 1307: 1242: 1101: 764:

natural gas, petroleum, tobacco products, foodstuffs, diamonds, pharmaceuticals, cars

357: 9893:"Deputy Prime Minister Mher Grigoryan receives USAID Deputy Assistant Administrator" 8423:"Armenia Economy, Politics and GDP Growth Summary - The Economist Intelligence Unit" 7137: 4774:

In December 2017 government transferred natural gas distribution networks in cities

3829:, which is currently building a controversial massive gold mine in the southeastern 3685:-In December 2020 the country's nominal GDP was reported to be 3.8 billion dollars. 3679:-In June 2021, Armenian Direct Investment Abroad increased by 12.8 million dollars. 2362: 14160: 14062: 14012: 13975: 13940: 13935: 13923: 13918: 13898: 13458: 13403: 13367: 13154: 13073: 13033: 13008: 12988: 12923: 12898: 12888: 12873: 12643: 12568: 12538: 12326: 12291: 12271: 12173: 12113: 12033: 12003: 11948: 11933: 11858: 11818: 11803: 11783: 11763: 11733: 11718: 11698: 11643: 11638: 11568: 11285: 8963: 8574:"Moody's upgrades Armenia's rating to Ba3; changes outlook to stable from positive" 7971: 7538:"Preliminary Main Macro-Economic Indicators of Armenian Economy in 2017 by Armstat" 7168: 6541: 6465: 6154: 5987:"2019թ.-ի համախառն ներքին արդյունքի (ՀՆԱ) ռամսյակային և տարեկան նախնական տվյալները" 5845:"Moody's upgrades Armenia's rating to Ba3; changes outlook to stable from positive" 5321: 5224: 5114: 4795: 4704: 4676:

Takeover of Armenian industrial property by the Russian state and Russian companies

4554: 3518:

services, the country exported US$ 2 billion in 2018 and imported US$ 2.1 billion.

2890: 2366: 2052: 1379: 1365:

Like other former states, Armenia's economy suffers from the legacy of a centrally

1190: 1137: 1089: 389: 8967: 4837: 3833:. Lydian has pledged to invest a total of $ 370 million in the Amulsar gold mine. 3708: 3571:

EU-Armenia trade increased by 15% in 2018 reaching a total value of €1.1 billion.

3276: 3016: 2501:

In 2017, industrial output increased by 12.6% annually reaching 1661 billion AMD.

2293:

The economy was further impacted by the war against Azerbaijan later in the year.

14100: 13470: 13357: 13330: 13265: 12993: 12958: 12913: 12908: 12817: 12108: 11993: 11968: 11883: 11838: 11713: 11673: 11633: 11341: 10766: 10706: 10618: 10590: 10564: 10507: 10457: 10427: 10421:"Armenia's Energy Sector, Other Industrial Assets Passing Under Russia's Control" 10396: 10360: 10339: 10318: 10251: 10230: 10195: 10142: 10121: 10053: 9879: 9479: 9421: 9361: 9333: 8731: 8491: 8463: 8337:"World Economic Outlook (October 2023) - Inflation rate, average consumer prices" 7698: 7599: 6991: 6965: 6657: 6244: 5974: 5210: 5102: 5089: 5004: 4804: 4783: 4716: 4643: 4624: 4539: 3237: 3142: 2519: 2184: 2118: 2074: 2030: 2008: 1417: 1366: 1359: 1109: 12365: 10950: 10826: 8306: 4883:

World ranking: 112 (7,700 km paved including 1561 km of expressways).

2878: 1061:

grew by 12.6% in 2022, according to the country's Statistical Committee and the

14085: 13908: 13453: 12355: 11487: 11244: 10892:"50141 աշխատատեղ ստեղծվել է, բայց 76741 աշխատատեղ էլ՝ փակվե՞լ. Հրանտ Բագրատյան" 7616: 6529: 6245:"Armenia Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption" 5475:"Poverty headcount ratio at national poverty lines (% of population) - Armenia" 5158: 5040: 4779: 3582: 2906: 1440: 1388: 1259: 1176: 8873: 8603: 8509:"Armenian banks' lending in 2019 grows by 10 percent to 3.572 trillion. drams" 7537: 7173: 7107: 6545: 5678:"Employment to population ratio, 15+, total (%) (national estimate) - Armenia" 3682:-In June 2021, it boosted its Foreign Portfolio Investment by $ 14.6 million. 3641:

During the first 11 months of 2006 US–Armenian trade totaled $ 152.6 million.

14175: 13902: 13799: 13448: 13443: 13388: 13352: 13172: 10420: 10078: 9981:"Armenian parliament approves reforms of management of joint stock companies" 9230: 7914: 7848: 7138:"Համախառն ներքին արդյունքն (ՀՆԱ) ըստ ՀՀ մարզերի եւ Երեւան քաղաքի 2015-2017թթ" 6788:"Armenia leads EEU countries on level of economic growth – official EEC data" 6787: 6553: 6362: 6166: 5910: 5801:"Armenian National Assembly's committee approves draft state budget for 2024" 4977: 4939: 4926: 4862: 4752: 4741: 4708: 2910: 2481: 2096: 1954: 1459: 1384: 1066: 923: 58: 6457: 1505:

GDP (PPP) per capita of Armenia, Azerbaijan and Georgia in years 1994–2022,

14110: 14105: 13888: 13624: 13564: 13438: 13423: 12370: 11366: 11295: 11194: 10981: 9927:

Ministry of Economic Development and Investments of the Republic of Armenia

9556: 8926: 8099: 7975: 6702: 6462:

European Journal of Turkish Studies. Social Sciences on Contemporary Turkey

6413: 5986: 5136:

publication (in English) "Labour market in the Republic of Armenia, 2018".

4968: 4723:

Armenia's largest thermal gas-burning power plant, which is in the town of

4699:

gas exporter in payment for its $ 10 million debt for past gas deliveries.

3541: 3146: 3080:

their impact on economy is decreasing, as GDP grows at outperforming rate.

2428: 2286:. These restrictions had a negative impact on businesses; according to the 1528: 1448: 1218:

Armenia ranked 81st and is classified into "high human development" group.

1081: 10982:"Armenia Has Highest Female Unemployment Rate Among Post-Soviet Countries" 9199:"As Armenia-EU trade blooms, Armenian exporters look to new opportunities" 8927:"Regional and International Trade of Armenia: Perspectives and Potentials" 7220: 6907:"map of GDP PPP 2000-2017 growth rates worldwide (Data by the World Bank)" 6146: 1207:

Index Armenia ranks 47th with 10th rank on "starting business" sub-index.

14125: 13285: 13182: 11492: 11477: 10451:>Danielyan, Emil. RUSSIA TIGHTENS GRIP ON ARMENIA WITH DEBT AGREEMENTS 9203: 8779:"Exports of products and services last year grew to 38% of Armenia's GDP" 8541:

Microfinance in Armenia: Sector characteristics and adaptation strategies

8217:"Armenia External Debt [2002 - 2019] [Data & Charts]" 6619: 6158: 5510:

Europe Central Asia Economic Update, Spring 2020 : Fighting COVID-19

4957: 4953: 4764: 4535: 4410: 3236:

Over half of the tax revenues in January–August 2008 were generated from

2450:

In 2017, construction output increased by 2.2% reaching 416 billion AMD.

1311: 67: 9169:"Armenia's foreign trade deficit increased by 33% per annum in May 2021" 6214: 2530:

Headquarters of VivaCell MTS, Armenia's leading mobile services provider

1249: 1241:

production. From 1914 through 1921, Caucasian Armenia suffered from the

13594: 13418: 9892: 9378: 8538:

Khachatryan, Knar; Avetisyan, Emma; Teulon, Frédéric (1 January 2014).

5685: 5651: 5574: 5514: 5482: 5119: 4688:

In August 2002 the Armenian government sold an 80 percent stake in the

4661: 3117: 2480:

In 2017, electricity generation increased by 6.1% reaching 7.8 billion

2370: 2287: 1404: 1375: 1350: 583: 10478: 8134: 8039: 6906: 6703:"International Experts Find Adequate Safety At Armenian Nuclear Plant" 6470: 3707:

Graphs are unavailable due to technical issues. There is more info on

3275:

Graphs are unavailable due to technical issues. There is more info on

3015:

Graphs are unavailable due to technical issues. There is more info on

1342:

in Yerevan to teach the techniques necessary to run a market economy.

13995: 13413: 13408: 11145:. Washington, D. C.: Federal Research Division, Library of Congress. 9809:"European Investment Bank ready to carry out new programs in Armenia" 4903: 4632: 3113: 2894: 1133: 326: 12381: 8659: 8040:"Map of international tourism receipts per capita in Europe in 2018" 7941:"The number of tourists visiting Armenia increased by 10.5% in 2018" 7196:"COVID-19 leaves a legacy of rising poverty and widening inequality" 5715:"Armenian- U.S. Economic cooperation has great potential - Kerobyan" 5015:

The border closures by Turkey and Azerbaijan have severed Armenia's

4996:

has been completed, and a road to Iran through the southern city of

4891:

Russian natural gas reaches Armenia via a pipeline through Georgia.

4767:, the banking arm of Gazprom, acquired 100 percent of Armenian bank 4244: 3603:

During January–February 2007, Armenia's trade with Russia and other

13383: 13305: 13193: 10636:"Human Development Indices and Indicators: 2018 Statistical Update" 10537: 10010: 9265: 5318:"World Bank Country and Lending Groups – World Bank Data Help Desk" 4981: 4961: 4899: 4628: 4608: 3340:

non-precious metals and products of these: 177.5 million USD (8.3%)

2359:

In addition to smaller productions of other agricultural products.

1432: 12786: 10891: 10520:"Gazprombank acquiert entièrement la banque arménienne Areximbank" 8422: 4760:’s fifth power bloc (Hrazdan-5), the leading unit in the country. 4744:

aluminum foil mill, giving RUSAL 100% ownership of RUSAL ARMENAL.

2979:

In 2018 debt-to-GDP ratio stood at 55.7% down from 58.7% in 2017.

14115: 13543: 13310: 13290: 13224: 10927:. Washington, D.C.: International Monetary Fund. 5 October 2023. 9076:"Armenia: Foreign Trade Deficit $ 1.94 Billion in 2017 - Hetq.am" 8811:. Washington, D.C.: International Monetary Fund. 5 October 2023. 8339:. Washington, D.C.: International Monetary Fund. 5 October 2023. 6191:. Washington, D.C.: International Monetary Fund. 5 October 2023. 4816: 4748: 4724: 4657: 4543: 3514:

Imports in 2017 amounted to $ 4.183 billion, up 27.8% from 2016.

3482: 3065: 2386: 2236: 1986: 1125: 46: 32: 12349:

Special administrative regions of the People's Republic of China

11097: 10767:"Time series / Statistical Committee of the Republic of Armenia" 9951:"Armenian premier explains where 50,000 new jobs have come from" 8190: 5406: 4623:

According to one analyst, Armenia's economic system in 2008 was

3734:

FDI inward flows as percentage of gross fixed capital formation

3334:

precious metals and products of these: 289.6 million USD (13.5%)

1488:

countries in 2018 January–June against the same period of 2017.

1193:

Armenia ranks 27th (classified most free) out of 162 economies.

13320: 13315: 13300: 11168: 10622: 10594: 10568: 10400: 10146: 9922: 9777:"FDI data – United Nations Conference on Trade and Development" 9483: 9442:"Trade between Iran, Armenia can reach $ 1b annually: Minister" 9425: 9379:"Armenian economist on fall of Russian-Armenian trade turnover" 9365: 9337: 9266:"Արտաքին առևտուր. Հայաստանի TOP 10 գործընկերները 2017 թվականին" 8735: 8495: 8467: 7702: 7603: 7577: 7330: 6966:"Time series, Average de jure Population Number, thousand pers" 6662:. International Business Publications. 2013. pp. 247–248. 5624:. New York: United Nations Development Programme. 13 March 2024 5218: 5204: 4997: 4910: 4775: 4542:, formerly named ArmRosGazprom (controlled by Russian monopoly 3822: 2902: 2545: 2423: 1484:

With 8.3%, Armenia recorded highest degree of GDP growth among

1355: 1238: 1124:

Armenia is a food importer, and its mineral deposits (gold and

12356:

Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu

7692:"Government Downplays Economic Cost Of Russian Gas Price Hike" 4921:

Armenia's main rail and road border-crossing with Georgia (at

4751:

and increased Gazprom's stake in the Russian-Armenian company

14120: 13325: 8604:"Armenia debt-to-GDP ratio to drop 1% in 2018, minister says" 5189:

Armenia is working on addressing its environmental problems.

5085:

average monthly earning during February 2021 was US$ 366.05.

5069:

monthly wages averaged to 172 thousand AMD in February 2019.

4696: 3247: 2552: 2454:

Armenia's economy in 2009 came from the construction sector.

2382: 2378: 2340:

104 thousand tons of apricots (12th-largest world producer);;

9523:"Armenia Foreign Direct Investment, 1993 – 2021 | CEIC Data" 6847:"World Development Indicators - Google Public Data Explorer" 6534:

Demokratizatsiya: The Journal of Post-Soviet Democratization

5407:"Տեղեկատվական տեխնոլոգիաների ոլորտը Հայաստանում 2023 |" 3498:

Meanwhile, exports to Russia, Germany, USA and UAE dropped.

3045:

The Armenian government projects inflation at 2.7% in 2019.

1104:, and foreign direct investment. Armenia is a member of the 13280: 10160:

Editors Concerned About Sale Of Newspaper Distribution Firm

8749:"General Taxation Overview Armenia - ILex Law Firm Armenia" 6363:

World Bank (Washington, District of Columbia), ed. (2019).

5709: 5707: 4914: 3560:

Armenia-EU Comprehensive and Enhanced Partnership Agreement

2914: 2374: 1961: 1452: 1444: 9745:"Օտարերկրյա ներդրումները 2018 թվականի հունվար-սեպտեմբերին" 9322: 9320: 8537: 7818: 7569: 7567: 7565: 12351:, participating as "Hong Kong, China" and "Macao, China". 10584:"Armenia Scrambles To Restore Vital Supplies Via Georgia" 10040: 10038: 10036: 9683:"World Investment Report 2019 – Country Report – Armenia" 8720: 8718: 8161:"In 2019, Armenia's public debt to make 50.3% of its GDP" 7849:"Net profit of Armenian banks grow 8 billion AMD in 2017" 7077: 7048:"7.6% GDP growth recorded in Armenia in 2019 - Pashinyan" 6935: 6733:"7.6% GDP growth recorded in Armenia in 2019 - Pashinyan" 6414:"2021 Corruption Perceptions Index - Explore the results" 5288:"World Economic Outlook Database - Groups and Aggregates" 4826: 4647: 1412: 1232: 7532: 7530: 7528: 5945:. Washington, D.C.: The World Bank Group. 7 April 2023. 5704: 5126:

of $ 6.85 per day, from 51.7% in 2021 to 37.6% in 2023.

4588:

Fixed-line telephony, held by Armentel until August 2007

1391:

for the first few years after its introduction in 1993.

11179: 11035: 10446: 10444: 10442: 10440: 10432:

IASPS Policy Briefings: Oil in Geostrategic Perspective

10366: 9317: 8953: 7562: 7374:"GDP share of agriculture by country, around the world" 6601: 6591: 6589: 6587: 6572: 6490: 6439: 6437: 6435: 3581:

During January–February 2007, Armenia's trade with the

2585:

Development of Financial Services in 2017 according to

10385: 10383: 10033: 9408: 9406: 9404: 8715: 8452: 8450: 8448: 7685: 7434:"Armenian 2017 GDP breakdown by sector - Armstat (am)" 4681:

of market reforms, clan-based economics, and official

4585:

Internet access, held by Armentel until September 2006

3222: 2518:

In the 2000s, along with the construction sector, the

11342:

Trade-Related Aspects of Intellectual Property Rights

11036:"ԲԾԻԳ – Բնապահպանական ծրագրերի իրականացման գրասենյակ" 10607: 10605: 10603: 10579: 10577: 10553: 10551: 10549: 10547: 10283:

Armenia Airport Hamstrung By Mysterious Fuel Shortage

9350: 9348: 9346: 9068: 8480: 8478: 8476: 7588: 7586: 7525: 7327:"Kocharian Orders Tax Exemption For Armenian Farmers" 7320: 6530:"Economic Challenges Faced by the New Armenian State" 5968:

https://www.armstat.am/file/article/sv_12_22a_411.pdf

4627:

due to the structure of the economy being a type of "

4413:

from the government of the United States through the

3589: 2990: 2917:. Though relatively small in size, Armenia has three 1159:

Armenia § International Economy-related Rankings

1108:

and ties with Russia remain close, especially in the

11184: 10437: 8485:"Survey Highlights Armenia’s Lingering Unemployment" 7471:"Armenian 2017 foreign trade summary - Armstat (ru)" 6584: 6560: 6502: 6432: 5200: 4894:

The only operational rail link into Armenia is from

4865:

was launched in 1981. It serves 11 active stations.

3172:

upgraded Armenia to Ba3 rating with stable outlook.

3128:

Armenian banks' lending grew by 10 percent in 2019.

2699:

Ongoing liquidity normative indicator (minimum 60%)

2689:

General liquidity normative indicator (minimum 15%)

12354:

Officially the Republic of China, participates as "

10496:"Russia Cements Control of Armenia's Energy System" 10380: 9882:, Millennium Challenge Corporation, March 27, 2006. 9464: 9401: 8725:"Government Keeps Up Strong Growth In Tax Revenues" 8445: 7286: 7284: 7282: 7280: 7278: 7276: 7274: 7272: 7270: 7268: 7266: 6275:"Economic Freedom of the World: 2018 Annual Report" 6147:"Public Debt, Fiscal Decisions and Political Power" 3152: 11138: 10600: 10574: 10544: 10415: 10413: 10411: 10409: 9343: 9124: 8473: 7583: 7264: 7262: 7260: 7258: 7256: 7254: 7252: 7250: 7248: 7246: 6140: 6138: 4415:United States Agency for International Development 1458:The country's electricity distribution system was 1301: 11189: 11141:Armenia, Azerbaijan, and Georgia: country studies 10490: 10488: 9866: 7882:"Armenia Industry Research – Banks (07 May 2018)" 7819:"ArmBanks.am - Armenian financial-banking portal" 7752:"Armstat - Оплата труда и численность работников" 6523: 6521: 6519: 6517: 6046: 6044: 5172: 5139: 4245:FDI in founding capital of financial institutions 2389:are among a few of Armenian agricultural products 14173: 11066:"Greenhouse Gas Emissions in Armenia (by USAID)" 10919: 10917: 10707:"Time series / Statistical Committee of Armenia" 10297:Armenian Central Bank Approves Another Rate Rise 10223:Armenian Premier Downplays Impact Of Georgia War 8660:"2020 - Armenia's Top 10 Foreign Trade Partners" 7593:"Armenia Learning From Crisis, Says World Bank " 7344:"Armenia GDP share of agriculture - data, chart" 5915:Statistical Committee of the Republic of Armenia 5157:According to an OSCE survey, a typical Armenian 5010: 4449: 2889:Tourism in Armenia has been a key sector to the 10406: 10163:, Armenia Liberty (RFE/RL), September 13, 2007. 10135:Armenian Railway Under Anti-Trust Investigation 10124:, Armenia Liberty (RFE/RL), September 23, 2008. 8100:"Armenia's Public Debt To Rise Further In 2019" 7243: 7108:"Armenia's economy fell by 7.5 percent in 2020" 7018:"Armenia's economy grew by 5.2 percent in 2018" 6135: 4560:Electricity transmission and distribution (see 4262: 3616:In 2017 trade with China grew by 33.3 percent. 3358: 3297: 10558:"Armenia ‘Pressing Ahead’ With Iran Rail Link" 10485: 10068: 10066: 10064: 10062: 9472:Armenia, Georgia Agree On Joint Border Control 7967:International Tourism Highlights, 2019 Edition 6815: 6813: 6514: 6207: 6041: 4841:Zvartnots International Airport main concourse 13209: 12802: 12397: 12192: 11210: 10914: 10612:"Russia, Georgia Agree To Reopen Border Gate" 10363:, Armenia Liberty (RFE/RL), October 23, 2007. 10342:, Armenia Liberty (RFE/RL), January 29, 2008. 10286:, Armenia Liberty (RFE/RL), November 7, 2005. 10174:French Mobile Giant Set To Win Armenia Tender 9132:"Foreign sector of economy in 2017 - Armstat" 6930: 6928: 6019:"GDP growth (annual %) - Armenia | Data" 5933: 5931: 5622:"Inequality-adjusted Human Development Index" 5381:"World Economic Outlook Database, April 2024" 4495: 3662: 1065:. Total output amounted to 8.5 trillion 11224: 10925:"Report for Selected Countries and Subjects" 10254:, Armenia Liberty (RFE/RL), August 15, 2008. 10244:Armenian Cement Plant ‘Sold To Russian Firm’ 10233:, Armenia Liberty (RFE/RL), August 28, 2008. 10212:, Armenia Liberty (RFE/RL), August 24, 2007. 10177:, Armenia Liberty (RFE/RL), October 6, 2008. 9836: 9834: 9557:"Foreign Investment In Armenia Down In 2017" 9497:"Bilateral Trade by Products Turkey-Armenia" 9414:Chinese FM Visits Armenia, Urges Closer Ties 8809:"Report for Selected Countries and Subjects" 8457:"Cash Transfers To Armenia Jump To New High" 7970:. World Tourism Organization (UNWTO). 2019. 7915:"Armenia - UNESCO World Heritage Convention" 7661:"Armenian economy macro statistics for 2017" 7465: 7463: 7461: 7404:"Industry Breakdown of Companies in Armenia" 6758:"Report for Selected Countries and Subjects" 6750: 6189:"Report for Selected Countries and Subjects" 4736:In January 2003 the Armenian government and 4574:Former notable monopolies in Armenia : 3485:for different product groups by employing a 1044:All values, unless otherwise stated, are in 10332:Mining Giant Remains Armenia’s Top Taxpayer 10209:Armenian Telecom Sector Further Liberalized 10059: 9945: 9943: 9554: 8097: 7299:. Yerevan: The Civilitas Foundation. 2010. 6984: 6810: 6700: 4638:According to the 2008 estimate of a former 1465: 13216: 13202: 12809: 12795: 12404: 12390: 11217: 11203: 10198:, Armenia Liberty (RFE/RL), July 30, 2008. 10114:New Russian Gas Price For Armenia Unveiled 9596:"Foreign investments in 2017 – armstat.am" 6958: 6925: 6629:. Rotterdam: Balkema. pp. 7011–7015. 6144: 5928: 5375: 5373: 5371: 5369: 5367: 5365: 5363: 4685:have allowed the success of this process. 4481:January 2019 as compared to January 2018. 3248:Foreign trade, direct investments, and aid 2553:Information and Communication Technologies 2505:the January–August 2007 period, Armenia's 2296: 1140:and the breakup of the centrally directed 14187:World Trade Organization member economies 10979: 10321:, Armenia Liberty (RFE/RL), May 29, 2008. 10300:, Armenia Liberty (RFE/RL), June 3, 2008. 9897:The Government of the Republic of Armenia 9831: 9355:"Armenia Posts Record-High Trade Deficit" 8921: 8919: 8832: 8830: 7458: 7172: 6469: 6456:Matossian, Bedross Der (6 October 2011). 6455: 5763: 5733: 5501: 5434: 5432: 5430: 5428: 5426: 5424: 5422: 5420: 5418: 5416: 5361: 5359: 5357: 5355: 5353: 5351: 5349: 5347: 5345: 5343: 2679:Loans provided to businesses growth rate 1200:Armenia ranks 69th out of 141 economies. 1152: 956: 932: 557: 549: 376: 368: 10311:Government Vows To Curb Rising Inflation 10084:"Investment Climate Statements for 2017" 9940: 9769: 9166: 8098:Harutyunyan, Sargis (26 December 2018). 7574:"Armenian Growth Still In Double Digits" 4971:) between Georgia and Russia across the 4836: 4789: 4715:and National Security Council Secretary 4453: 3727:(FDI) in Armenia remain low as of 2018. 3540: 3346:other exports: 321.8 million USD (15.0%) 3244:of products and services are not taxed. 3112: 3056: 2877: 2525: 2422: 2361: 1500: 1469: 1248: 11024:from the original on 19 September 2018. 10188:Armenian Telecom Operator Fined $ 1 Mln 9677: 9675: 9436: 9434: 8687: 8685: 7781: 7779: 4515: 3564:European Business Association (Armenia) 3213: 2429:Kajaran copper-molybdenum open-pit mine 14: 14174: 11312:General Agreement on Tariffs and Trade 11136: 10854: 10852: 10669: 10667: 10665: 10663: 9590: 9588: 9586: 9584: 9582: 9550: 9548: 9289: 9287: 9260: 9258: 9256: 9241:from the original on 28 September 2020 8916: 8827: 8129: 8127: 8125: 7787:"Оплата труда и количество работников" 7483:from the original on 18 September 2021 7293:Armenia in 2010. A Year of Uncertainty 7155: 7153: 6652: 6650: 6648: 6646: 6607: 6595: 6578: 6566: 6527: 6508: 6496: 6443: 6123:from the original on 13 September 2019 6113:"Armenia - Energy Sector | export.gov" 5775:The Observatory of Economic Complexity 5745:The Observatory of Economic Complexity 5413: 5340: 5065:According to preliminary figures from 4827:Transportation routes and energy lines 4592:Assumed (unofficial) monopolies until 4352:Virgin Islands: 14.54 bill. AMD (3.1%) 3620:terms, nearly doubled in that period. 3204: 3163: 2441: 2301: 1233:History of the modern Armenian economy 1221:In the 2021 report (data for 2020) of 1210:In the 2019 report (data for 2018) of 1203:In the 2020 report (data for 2019) of 1185:In the 2019 report (data for 2017) of 13197: 12790: 12411: 12385: 11198: 11108:from the original on 11 December 2019 10961:from the original on 14 November 2019 10837:from the original on 13 November 2019 10717:from the original on 17 November 2018 9660:from the original on 24 February 2020 9533:from the original on 11 December 2021 9503:from the original on 18 February 2022 9452:from the original on 25 February 2021 9179:from the original on 11 December 2021 9112:from the original on 11 December 2021 9056:from the original on 11 December 2021 8838:"Country Economic Update Winter 2019" 8759:from the original on 11 December 2021 8670:from the original on 11 December 2021 8554:from the original on 14 December 2022 8519:from the original on 24 February 2020 8403:from the original on 14 December 2021 8093: 8091: 8076:from the original on 24 February 2020 8046:from the original on 23 November 2021 7876: 7874: 7829:from the original on 28 November 2016 7623:from the original on 19 December 2021 7058:from the original on 24 February 2020 7028:from the original on 21 February 2019 6998:from the original on 18 November 2008 6887:from the original on 26 December 2018 6690:from the original on 17 October 2012. 6486:– via journals.openedition.org. 6314:from the original on 10 November 2019 6285:from the original on 16 November 2019 6058:from the original on 25 December 2019 5781:from the original on 12 December 2022 5751:from the original on 12 December 2022 5692:from the original on 12 December 2022 4578:Wireless (mobile) telephony, held by 4531:Major monopolies in Armenia include: 3688: 2567: 380:44.1% on less than $ 5.50/day (2020f) 154:$ 25.408 billion (nominal, 2024 est.) 13223: 11185:Neruzh Diaspora Tech Startup Program 10986:«Ազատ Եվրոպա/Ազատություն» ռադիոկայան 10931:from the original on 30 October 2023 10747:from the original on 19 January 2023 10628: 10377:, ArmeniaNow.com, November 14, 2008. 10021:from the original on 5 December 2008 9819:from the original on 5 November 2019 9725:from the original on 2 December 2018 9672: 9608:from the original on 9 October 2022. 9561:«Ազատ Եվրոպա/Ազատություն» ռադիոկայան 9555:Harutyunyan, Sargis (6 April 2018). 9431: 9305:from the original on 9 February 2018 9272:from the original on 9 November 2023 9082:from the original on 9 November 2023 9000:from the original on 9 November 2023 8943:from the original on 9 October 2022. 8815:from the original on 30 October 2023 8682: 8584:from the original on 29 October 2019 8373:from the original on 5 November 2019 8355: 8197:from the original on 27 October 2021 8171:from the original on 5 November 2019 8141:from the original on 9 December 2019 8135:"Countries | Transition Report 2019" 8104:«Ազատ Եվրոպա/Ազատություն» ռադիոկայան 7776: 7513:from the original on 5 November 2019 7078:"Main Indicators in Graphical Forms" 6798:from the original on 3 December 2018 6768:from the original on 30 October 2023 6707:«Ազատ Եվրոպա/Ազատություն» ռադիոկայան 6387: 6334:"Global Competitiveness Report 2019" 6215:"Heritage Index of Economic Freedom" 6195:from the original on 30 October 2023 5600:United Nations Development Programme 5328:from the original on 28 October 2019 5298:from the original on 23 October 2023 4758:Hrazdan electricity generating plant 4358:Lichtenstein: 10.78 bill. AMD (2.3%) 3693: 3261: 3001: 2496: 1229:Armenia ranked 49 of 179 countries. 12816: 11322:Sanitary and Phytosanitary Measures 11078:from the original on 9 October 2022 10872:from the original on 9 October 2022 10849: 10687:from the original on 9 October 2022 10660: 10648:from the original on 9 October 2022 10272:), Armenia Liberty, March 19, 2007. 9854:from the original on 9 October 2022 9789:from the original on 9 October 2022 9757:from the original on 9 October 2022 9707: 9695:from the original on 9 October 2022 9579: 9545: 9284: 9253: 8880:from the original on 20 April 2020. 8854:from the original on 9 October 2022 8433:from the original on 15 August 2022 8122: 8000:from the original on 30 August 2019 7894:from the original on 9 October 2022 7799:from the original on 9 October 2022 7764:from the original on 9 October 2022 7716:"Armenia Investment Map, Oct. 2018" 7673:from the original on 9 October 2022 7550:from the original on 9 October 2022 7446:from the original on 9 October 2022 7150: 7040: 6713:from the original on 7 October 2022 6701:Harutyunyan, Sargis (2 June 2011). 6643: 6344:from the original on 9 October 2019 6255:from the original on 28 August 2021 5999:from the original on 9 October 2022 5030: 4967:The Upper Lars border crossing (at 4436: 4340:Netherlands: 16.57 bill. AMD (3.5%) 3223:Special taxation for small business 3052: 3031:Armenian dram exchange rate per USD 2937: 24: 13740:President of the National Assembly 11046:from the original on 19 April 2023 10807:from the original on 13 April 2021 10737:"Armenia – unemployment rate 2020" 10056:, ArmeniaNow.com, January 4, 2008. 9991:from the original on 30 April 2019 9961:from the original on 29 April 2019 9567:from the original on 18 April 2018 9211:from the original on 28 March 2023 9026:from the original on 10 April 2019 8703:from the original on 29 April 2021 8614:from the original on 23 March 2018 8393:"Armenia Inflation Rate 1994-2021" 8317:from the original on 4 August 2020 8088: 7912: 7871: 6936:"GDP at market prices, mln. drams" 5979: 5721:from the original on 22 April 2023 5658:from the original on 27 March 2023 5531:from the original on 11 April 2020 5489:from the original on 30 March 2023 5148: 4886: 4400: 4364:Switzerland: 6.73 bill. AMD (1.4%) 4328:Luxembourg: 21.86 bill. AMD (4.6%) 4258: 4032:Commonwealth of Independent States 3590:Russia and former Soviet republics 3354: 3293: 3231: 2991:Exchange rate of national currency 2513: 2487: 1018:B+, Outlook Positive (03 Mar 2022) 25: 14203: 12358:", and "Chinese Taipei" in short. 11332:Trade-Related Investment Measures 11161: 11137:Curtis, Glenn Eldon, ed. (1995). 11012:"Migration and skills in Armenia" 10980:Mkrtchian, Anush (9 March 2018). 10390:Armenia Warned To End ‘Oligopoly’ 10094:from the original on 30 July 2020 9148:from the original on 1 March 2018 8343:from the original on 4 April 2023 8227:from the original on 12 June 2017 6857:from the original on 30 July 2020 6827:from the original on 1 March 2018 6225:from the original on 20 July 2009 5949:from the original on 25 June 2020 5517:. 9 April 2020. pp. 39, 40. 5017:rail link between Gyumri and Kars 4763:In October 2008 the Russian bank 4538:import and distribution, held by 3553: 3328:textile: 130.6 million USD (6.1%) 3316:minerals: 692 million USD (32.3%) 3159:State Revenue Committee (Armenia) 2559:Science and technology in Armenia 2331:126 thousand tons of watermelons; 2257: 1010:Ba3, Outlook Stable (27 Aug 2019) 894:Abroad: $ 228 million (2015 est.) 13542: 13177: 13168: 13167: 12364: 11654:Democratic Republic of the Congo 11167: 11090: 11058: 11028: 11004: 10992:from the original on 13 May 2021 10973: 10943: 10884: 10819: 10789: 10777:from the original on 11 May 2021 10759: 10729: 10699: 10530: 10512: 10467: 10345: 10324: 10303: 10289: 10275: 10257: 10236: 10215: 10201: 10180: 10166: 10152: 10127: 10106: 10072: 10003: 9973: 9915: 9903:from the original on 12 May 2019 9885: 9801: 9737: 9642: 9612: 9515: 9489: 9371: 9327:"Armenia Keeps Up Robust Growth" 9223: 9191: 9167:Badalian, Naira (26 June 2021). 9160: 9094: 9038: 9012: 8982: 8947: 8904:from the original on 12 May 2019 8884: 8866: 8801: 8771: 8741: 8652: 8626: 8596: 8566: 8531: 8501: 8415: 8385: 8329: 8299: 8269: 8257:from the original on 22 May 2019 8239: 8209: 7732:from the original on 12 May 2019 7414:from the original on 9 July 2023 7384:from the original on 12 May 2019 7354:from the original on 12 May 2019 7231:from the original on 11 May 2017 7118:from the original on 12 May 2021 7088:from the original on 19 May 2008 6946:from the original on 19 May 2008 6478:from the original on 13 May 2021 6367:. Washington: World Bank Group. 5825:from the original on 29 May 2023 5217: 5203: 5134:Statistical Committee of Armenia 5107:Statistical Committee of Armenia 5099:Statistical Committee of Armenia 5094:Statistical Committee of Armenia 5082:Statistical Committee of Armenia 5067:Statistical Committee of Armenia 5060: 4909:The Georgian Black Sea ports of 4567:Newspaper distribution, held by 4460:Armenian State Revenue Committee 4419:Millennium Challenge Corporation 3698: 3632: 3463:exports to other countries: 4.7% 3266: 3252: 3153:Government revenues and taxation 3006: 2319:199 thousand tons of vegetables; 2274:. These restrictions included a 2229: 1979: 1132:with Azerbaijan over the ethnic 1033: 1032: 1014: 1013: 1006: 1005: 955: 931: 912: 911: 890: 889: 882: 881: 855: 844: 833: 822: 811: 800: 789: 778: 750: 749: 731: 720: 709: 698: 687: 676: 665: 654: 626: 625: 556: 548: 496: 495: 488: 487: 466: 465: 438: 437: 422: 421: 397: 375: 367: 251: 250: 243: 242: 222: 221: 214: 213: 206: 205: 158: 157: 150: 149: 131: 49:, the economic centre of Armenia 40: 10902:from the original on 1 May 2019 10860:"Աշխատանքի շուկայի ցուցանիշներ" 10675:"World Development Report 2019" 9630:from the original on 4 May 2019 9389:from the original on 2 May 2019 8789:from the original on 4 May 2019 8640:from the original on 7 May 2021 8287:from the original on 6 May 2021 8183: 8153: 8110:from the original on 4 May 2019 8058: 8032: 7958: 7938: 7932: 7913:Centre, UNESCO World Heritage. 7906: 7859:from the original on 5 May 2018 7841: 7811: 7744: 7708: 7653: 7635: 7609: 7495: 7426: 7396: 7366: 7336: 7213: 7188: 7130: 7100: 7070: 7010: 6972:from the original on 8 May 2016 6913:from the original on 6 May 2021 6899: 6869: 6839: 6780: 6725: 6694: 6676: 6613: 6528:Sarian, Armand (1 March 2006). 6449: 6406: 6381: 6356: 6326: 6297: 6267: 6237: 6181: 6105: 6070: 6029:from the original on 3 May 2023 6011: 5961: 5903: 5877: 5855: 5837: 5807: 5793: 5670: 5636: 5614: 5075: 5046: 5025: 4987: 4656:In October 2009, when visiting 4316:Lebanon: 38.32 bill. AMD (8.0%) 4304:Russia: 58.28 bill. AMD (12.2%) 4292:Cyprus: 98.06 bill. AMD (20.6%) 3723:Despite robust economic growth 3131: 2954: 2534: 2346:54 thousand tons of sugar beet; 1936: 1302:Post-communist economic reforms 14192:Economies of Europe by country 13135:British Indian Ocean Territory 12029:St. Vincent and the Grenadines 6145:Waaniewski, Krzysztof (2014). 5644:"Labor force, total - Armenia" 5588: 5563: 5467: 5399: 5310: 5280: 5258:Geographical Issues in Armenia 5173:Natural environment protection 5140:Female unemployment in Armenia 4650:is controlled by 44 families. 4395: 4388:Austria: 0.46 bill. AMD (0.1%) 4382:Germany: 0.55 bill. AMD (0.1%) 4346:France: 16.22 bill. AMD (3.4%) 3748:South-East Europe and the CIS 2352:50 thousand tons of cucumbers; 2328:138 thousand tons of tomatoes; 2316:415 thousand tons of potatoes; 1340:American University of Armenia 398: 132: 13: 1: 11180:Investment Council of Armenia 10353:Armenia Hit By Sugar Shortage 8968:10.1080/13504851.2017.1418064 6305:"You are being redirected..." 5105:. For the whole year of 2018 5011:Through Turkey and Azerbaijan 4881:Total length: 8,140 km, 4562:Electricity sector in Armenia 4553:, owned by Russian Railways ( 4526: 4450:Domestic business environment 4370:Latvia: 2.06 bill. AMD (0.4%) 3322:food: 531 million USD (24.8%) 2950:Central Depository of Armenia 2476:Electricity sector in Armenia 2343:89 thousand tons of cabbages; 1187:Economic Freedom of the World 1037:$ 3.6 billion (December 2023) 7919:UNESCO World Heritage Centre 6686:. Cato.org. 15 August 2012. 5771:"Import partners of Armenia" 5741:"Export partners of Armenia" 5268:List of companies of Armenia 5122:upper-middle income economy 5088:According to prime minister 4690:Armenian Electricity Network 4476:List of companies of Armenia 4376:Canada: 0.6 bill. AMD (0.1%) 4322:Iran: 33.71 bill. AMD (7.1%) 4310:USA: 54.18 bill. AMD (11.4%) 4025: 3037: 2594:Financial Services Segments 2427:Armenia's largest mine, the 2349:52 thousand tons of peaches; 2337:109 thousand tons of apples; 2334:124 thousand tons of barley; 2325:179 thousand tons of grapes; 1345:Armenia was admitted to the 1223:Corruption Perceptions Index 1198:Global Competitiveness Index 1095:Metsamor nuclear power plant 500:50.1% employment rate (2017) 470:47 out of 100 points (2023, 460:Corruption Perceptions Index 247:$ 8,575 (nominal, 2024 est.) 7: 14053:Armenian Brotherhood Church 14048:Armenian Evangelical Church 13399:Armenian Kingdom of Cilicia 11327:Technical Barriers to Trade 11190:Armenia Securities Exchange 10797:"Armenia Unemployment Rate" 10506:September 13, 2007, at the 7161:"IMF Staff Country Reports" 6762:International Monetary Fund 6088:Central Intelligence Agency 5450:Central Intelligence Agency 5385:International Monetary Fund 5292:International Monetary Fund 5248:Diamond industry in Armenia 5238:Armenia Securities Exchange 5196: 5179:Waste management in Armenia 4876: 4845: 4670:International Monetary Fund 4334:EBRD: 21.2 bill. AMD (4.4%) 4298:UK: 82.42 bill. AMD (17.3%) 3548: 3187: 2355:39 thousand tons of onions; 2322:187 thousand tons of wheat; 2268:Second Nagorno-Karabakh War 1401:International Monetary Fund 1347:International Monetary Fund 1253:100 million rubles banknote 1115: 1063:International Monetary Fund 886:$ 4.169 billion (2015 est.) 115:Upper-middle income economy 10: 14208: 13523:Armenian national movement 11255:International Trade Centre 11124: 8874:"Armenian Business Briefs" 5176: 5050: 4956:near the Armenian town of 4830: 4646:, 55 percent of Armenia's 4519: 4496:Foreign trade facilitation 4473: 3663:Foreign direct investments 3644: 3557: 3525: 3501: 3257: 3197: 3191: 3156: 3106: 3102: 2947: 2941: 2871: 2867: 2812:Total capital growth rate 2771:Total capital growth rate 2730:Total capital growth rate 2659:Total capital growth rate 2571: 2556: 2469: 2416: 2312:Armenia produced in 2018: 2305: 1324:First Nagorno-Karabakh War 1316:Communist Party of Armenia 1227:Transparency International 1156: 974:−4.6% (of GDP) (2024 est.) 916:−$ 328 million (2017 est.) 592:AMD 200,000 / €469 / $ 509 509:Labour force by occupation 14138: 14078: 14038:Armenian Apostolic Church 14028: 13961: 13874: 13865: 13843: 13775: 13766: 13715:National Security Service 13653: 13644: 13560: 13551: 13540: 13518:Nagorno-Karabakh conflict 13505: 13487:First Republic of Armenia 13479: 13434:1508–1828 Iranian Armenia 13376: 13253: 13235: 13163: 13122: 13082: 12824: 12768: 12720: 12682: 12419: 12344: 11501: 11455: 11375: 11304: 11268: 11232: 8956:Applied Economics Letters 7174:10.5089/9798400262463.002 6546:10.3200/demo.14.2.193-222 4960:and the Georgian town of 4940:41.2283250°N 44.8358667°E 4857: 4237:As of February 2019, the 3844:exceeding 1 billion AMD) 3725:foreign direct investment 3653: 3427:Other CIS countries: 1.7% 3170:Moody's Investors Service 3138:Microfinance institutions 3064:'s Educational Center in 2465: 2412: 1165:Index of Economic Freedom 1041: 1022: 994: 986: 978: 964: 945: 940: 920: 901: 869: 768: 758: 745: 644: 634: 621: 616: 598: 581: 575:AMD 251,822/ €641 / $ 690 568: 541: 507: 478: 457: 410: 387: 353: 324: 287: 262: 255:$ 21,746 (PPP, 2024 est.) 233: 196: 173: 140: 136:2.963 million (2024 est.) 127: 122: 101: 77: 65: 54: 39: 14043:Armenian Catholic Church 13658:Administrative divisions 12884:East Timor (Timor-Leste) 11629:Central African Republic 11260:Chronology of key events 11240:Accession and membership 11226:World Trade Organization 11129: 10898:. Peyotto Technologies. 8892:"Armenia Investment Map" 6101:(Archived 2019 edition.) 5887:. cba.am. Archived from 5463:(Archived 2019 edition.) 5320:. Washington, D.C.: The 5273: 5263:List of banks in Armenia 4994:new gas pipeline to Iran 4868: 4464:Armenian Customs Service 4239:European Investment Bank 3611: 3403:Other EU countries: 5.5% 3109:List of banks in Armenia 2822:Liabilities growth rate 2781:Liabilities growth rate 2740:Liabilities growth rate 2669:Liabilities growth rate 2574:List of banks in Armenia 1466:Outperforming GDP growth 1426:World Trade Organization 960:48.4% of GDP (2024 est.) 577:monthly (February, 2023) 13620:Shikahogh State Reserve 13271:Shulaveri–Shomu culture 13145:Cocos (Keeling) Islands 11250:Dispute Settlement Body 9106:www.lloydsbanktrade.com 9050:www.lloydsbanktrade.com 7939:LLC, Helix Consulting. 6308:www.fraserinstitute.org 6219:The Heritage Foundation 6151:SSRN Electronic Journal 5596:"Specific country data" 5253:Eurasian Economic Union 5191:Ministry of Environment 5053:Trade unions in Armenia 4852:South Caucasus Railways 4711:, while Prime Minister 4615:), held by Mika Limited 4110:with largest positions 3756:2005–2007 p.a. average 3623: 3605:former Soviet republics 3120:headquarters in Yerevan 3089:Central Bank of Armenia 3062:Central Bank of Armenia 2944:Central Bank of Armenia 2843:Net assets growth rate 2833:Mandatory pension funds 2638:Return on equity (ROE) 2627:Return on assets (ROA) 2395:agricultural production 2297:Main sectors of economy 1519:GDP (millions of drams) 1486:Eurasian Economic Union 1349:in May 1992 and to the 1212:Human Development Index 1173:Eurasian Economic Union 1169:The Heritage Foundation 1106:Eurasian Economic Union 982:6.8 billion (2024 est.) 413:Human Development Index 372:23.5% in poverty (2018) 14091:Armenian eternity sign 13853:South Caucasus Railway 12462:Bosnia and Herzegovina 11352:Information Technology 11347:Government Procurement 11281:Doha Development Round 7976:10.18111/9789284421152 7580:), September 20, 2007. 5571:"Gini index - Armenia" 5035:According to the 2018 4945:41.2283250; 44.8358667 4842: 4707:and Industry Minister 4664:’s managing director, 4594:2018 velvet revolution 4551:South Caucasus Railway 4486:shareholder oppression 4471: 4282: 3545: 3487:gravity model of trade 3375: 3306: 3121: 3068: 2927:In 2018 receipts from 2886: 2531: 2432: 2403:agricultural subsidies 2390: 2308:Agriculture in Armenia 1970:GDP per capita (US$ ) 1525:GDP per capita (drams) 1510: 1475: 1254: 1196:In the 2019 report of 1175:countries and several 1163:In the 2020 report of 1153:Global competitiveness 1075:war against Azerbaijan 936:$ 13.81 billion (2021) 13464:Treaty of Turkmenchay 11659:Republic of the Congo 11483:Supachai Panitchpakdi 10625:), December 24, 2009. 10500:Eurasia Daily Monitor 9878:May 14, 2009, at the 9842:"FDI data by ArmStat" 9486:), February 16, 2011. 9428:), February 17, 2011. 7705:), February 10, 2006. 7606:), November 27, 2009. 6281:. 25 September 2018. 5863:"Outlook Positive B+" 4976:breakaway regions of 4840: 4790:Non-transparent deals 4683:corruption in Armenia 4522:Corruption in Armenia 4457: 4281: 3858:in 9 months of 2018, 3544: 3374: 3305: 3136:The establishment of 3116: 3060: 2929:international tourism 2919:UNESCO world heritage 2885:, established in 1926 2881: 2529: 2426: 2365: 1504: 1473: 1252: 1136:-dominated region of 990:8 billion (2024 est.) 754:$ 12.3 billion (2023) 13785:AMX (stock exchange) 13059:United Arab Emirates 12144:United Arab Emirates 11176:at Wikimedia Commons 10571:), October 14, 2008. 10502:, November 3, 2006. 10481:on 31 December 2015. 10434:, November 13, 2002. 10149:), November 5, 2008. 9207:. 21 February 2023. 8990:"Hovsep Patvakanyan" 8845:The World Bank Group 8738:), October 14, 2008. 8515:. 14 February 2020. 8498:), February 9, 2006. 8072:. 21 February 2020. 7649:on 19 December 2021. 7378:TheGlobalEconomy.com 7348:TheGlobalEconomy.com 6760:. Washington, D.C.: 6338:World Economic Forum 6159:10.2139/ssrn.2517967 5383:. Washington, D.C.: 5290:. Washington, D.C.: 4833:Transport in Armenia 4738:United Company RUSAL 4602:Mikhail Baghdasarian 4516:Controversial issues 4468:Armenian Tax Service 4458:Headquarters of the 4036:transition economies 3831:Vayots Dzor Province 3827:Lydian International 3214:Corporate income tax 3200:Armenian Tax Service 3099:country's 2005 GDP. 2792:Investment companies 2710:Credit organizations 2459:Civilitas Foundation 2385:sold at a market in 2207:Vayots Dzor Province 2141:Gegharkunik Province 1276:net material product 770:Main import partners 646:Main export partners 630:$ 8.4 billion (2023) 570:Average gross salary 274:(nominal, 2024 est.) 183:(nominal, 2024 est.) 13795:Central Depository 13497:Independent Armenia 13276:Kura–Araxes culture 13086:limited recognition 12683:States with limited 12119:Trinidad and Tobago 12019:St. Kitts and Nevis 11529:Antigua and Barbuda 11463:Ngozi Okonjo-Iweala 11357:Marrakesh Agreement 10621:, Armenia Liberty ( 10597:), August 18, 2008. 10593:, Armenia Liberty ( 10567:, Armenia Liberty ( 10399:, Armenia Liberty ( 10145:, Armenia Liberty ( 9482:, Armenia Liberty ( 9448:. 26 January 2021. 9424:, Armenia Liberty ( 9368:), January 8, 2007. 9364:, Armenia Liberty ( 9336:, Armenia Liberty ( 8785:. 8 February 2019. 8734:, Armenia Liberty ( 8494:, Armenia Liberty ( 8466:, Armenia Liberty ( 8397:www.macrotrends.net 8369:. 5 November 2019. 8167:. 31 October 2019. 7701:, Armenia Liberty ( 7602:, Armenia Liberty ( 7576:, Armenia Liberty ( 7329:, Armenia Liberty ( 6365:Doing business 2020 5891:on 12 December 2022 5821:. 1 November 2022. 5243:Currency of Armenia 5233:Armenian merchantry 4936: / 4666:Ngozi Okonjo-Iweala 4549:Armenia's railway, 4407:Armenian government 4043: 3841:(with FDI net flow 3735: 3415:United States: 3.1% 3205:Employee income tax 3194:Taxation in Armenia 3164:Government revenues 2883:Grand Hotel Yerevan 2802:Assets growth rate 2761:Assets growth rate 2720:Assets growth rate 2649:Assets growth rate 2590: 2442:Construction sector 2431:in southern Armenia 2302:Agricultural sector 2282:requirement, and a 2163:Aragatsotn Province 1967:GDP per capita (֏) 1443:had classified the 1332:Ministry of Economy 1264:New Economic Policy 264:GDP per capita rank 111:Developing/Emerging 79:Trade organisations 36: 14182:Economy of Armenia 13825:Telecommunications 13746:more on government 13570:Armenian highlands 13348:Kingdom of Armenia 13341:Satrapy of Armenia 12413:Economy of Europe 11689:Dominican Republic 11174:Economy of Armenia 10617:2012-03-07 at the 10589:2008-11-05 at the 10563:2008-10-17 at the 10526:on 5 October 2008. 10456:2008-08-13 at the 10426:2008-10-06 at the 10403:)October 10, 2009. 10395:2009-11-24 at the 10359:2007-12-24 at the 10338:2008-01-31 at the 10317:2008-11-23 at the 10250:2008-10-14 at the 10229:2008-11-04 at the 10194:2009-01-08 at the 10141:2023-11-09 at the 10120:2023-11-09 at the 10052:2016-03-03 at the 10015:www.competition.am 9478:2011-02-19 at the 9420:2011-02-19 at the 9360:2007-02-23 at the 9340:), March 30, 2007. 9332:2023-11-09 at the 8730:2023-11-09 at the 8580:. 27 August 2019. 8490:2007-06-13 at the 8470:), August 5, 2008. 8462:2008-11-04 at the 7697:2023-11-09 at the 7598:2012-03-07 at the 7333:), August 8, 2006. 6881:data.worldbank.org 6764:. 5 October 2023. 6388:UNDP, ed. (2019). 6083:The World Factbook 6023:data.worldbank.org 5973:2023-03-01 at the 5865:. fitchratings.com 5682:data.worldbank.org 5648:data.worldbank.org 5479:data.worldbank.org 5445:The World Factbook 5294:. 5 October 2023. 5005:province of Syunik 4973:Caucasus Mountains 4843: 4809:Andranik Markarian 4713:Andranik Markarian 4472: 4462:(housing both the 4283: 4041: 3733: 3689:Yearly FDI figures 3546: 3376: 3307: 3143:Commercial banking 3122: 3069: 2887: 2874:Tourism in Armenia 2856:105.6 billion AMD 2584: 2568:Financial Services 2540:of food products. 2532: 2433: 2391: 2367:Cornelian cherries 2276:stay-at-home order 2264:COVID-19 recession 1511: 1476: 1255: 1080:While part of the 1071:COVID-19 recession 1059:economy of Armenia 862:India 1.93% (2020) 796:European Union 17% 738:Iran 2.51% (2019) 661:European Union 25% 610:diamond processing 594:monthly (Q3, 2023) 585:Average net salary 162:$ 64.432 billion ( 29: 14169: 14168: 14134: 14133: 13986:Ethnic minorities 13861: 13860: 13762: 13761: 13725:Political parties 13710:National Assembly 13678:Foreign relations 13640: 13639: 13538: 13537: 13513:Armenian genocide 13394:Bagratuni Armenia 13363:Byzantine Armenia 13336:Achaemenid Empire 13321:Kingdom of Urartu 13191: 13190: 13128:other territories 12784: 12783: 12379: 12378: 12340: 12339: 11337:Trade in Services 11291:Quota Elimination 11172:Media related to 10494:Socor, Vladimir. 10419:Socor, Vladimir. 8962:(18): 1266–1268. 8666:. 10 March 2021. 7316:on 21 April 2014. 7306:978-99941-2-503-6 6669:978-1-4387-0940-6 6636:978-90-5410-060-7 6471:10.4000/ejts.4411 6420:. 25 January 2022 6399:978-92-1-004496-7 6374:978-1-4648-1440-2 6086:(2024 ed.). 5851:. 27 August 2019. 5448:(2024 ed.). 5124:poverty threshold 4918:Armenia by rail. 4613:Zvartnots airport 4235: 4234: 4100: 4099: 4042:Stock inward FDI 4020: 4019: 3820: 3819: 3720: 3719: 3288: 3287: 3238:value-added taxes 3087:According to the 3028: 3027: 2862: 2861: 2622:31.7 billion AMD 2619:39.7 billion AMD 2507:industrial sector 2497:Industrial sector 2472:Energy in Armenia 2419:Mining in Armenia 2280:social distancing 2272:COVID-19 pandemic 2255: 2254: 1934: 1933: 1310:began advocating 1308:Mikhail Gorbachev 1128:) are small. The 1084:, the economy of 1054: 1053: 683:Switzerland 20.4% 561:12.5% (2023 est.) 553:13.0% (2024 est.) 355:Population below 16:(Redirected from 14199: 14154: 14147: 13872: 13871: 13835:Waste management 13773: 13772: 13651: 13650: 13558: 13557: 13546: 13459:Karabakh Khanate 13368:Sasanian Armenia 13251: 13250: 13247: 13218: 13211: 13204: 13195: 13194: 13181: 13171: 13170: 13140:Christmas Island 12826:Sovereign states 12818:Economy of Asia 12811: 12804: 12797: 12788: 12787: 12721:Dependencies and 12420:Sovereign states 12406: 12399: 12392: 12383: 12382: 12371:World portal 12369: 12368: 12190: 12189: 11984:Papua New Guinea 11467:Director-General 11362:Doha Declaration 11286:Singapore issues 11219: 11212: 11205: 11196: 11195: 11171: 11156: 11144: 11118: 11117: 11115: 11113: 11094: 11088: 11087: 11085: 11083: 11077: 11070: 11062: 11056: 11055: 11053: 11051: 11032: 11026: 11025: 11023: 11016: 11008: 11002: 11001: 10999: 10997: 10977: 10971: 10970: 10968: 10966: 10947: 10941: 10940: 10938: 10936: 10921: 10912: 10911: 10909: 10907: 10888: 10882: 10881: 10879: 10877: 10871: 10864: 10856: 10847: 10846: 10844: 10842: 10823: 10817: 10816: 10814: 10812: 10801:www.ceicdata.com 10793: 10787: 10786: 10784: 10782: 10763: 10757: 10756: 10754: 10752: 10733: 10727: 10726: 10724: 10722: 10703: 10697: 10696: 10694: 10692: 10686: 10679: 10671: 10658: 10657: 10655: 10653: 10647: 10640: 10632: 10626: 10609: 10598: 10581: 10572: 10555: 10542: 10541: 10534: 10528: 10527: 10522:. 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Archived from 10471: 10465: 10448: 10435: 10417: 10404: 10387: 10378: 10370: 10364: 10349: 10343: 10328: 10322: 10307: 10301: 10293: 10287: 10279: 10273: 10270:Zhamanak Yerevan 10261: 10255: 10240: 10234: 10219: 10213: 10205: 10199: 10184: 10178: 10170: 10164: 10156: 10150: 10131: 10125: 10110: 10104: 10103: 10101: 10099: 10076: 10075: 10070: 10057: 10042: 10031: 10030: 10028: 10026: 10007: 10001: 10000: 9998: 9996: 9985:ARKA News Agency 9977: 9971: 9970: 9968: 9966: 9955:ARKA News Agency 9947: 9938: 9937: 9935: 9933: 9919: 9913: 9912: 9910: 9908: 9889: 9883: 9870: 9864: 9863: 9861: 9859: 9853: 9846: 9838: 9829: 9828: 9826: 9824: 9805: 9799: 9798: 9796: 9794: 9788: 9781: 9773: 9767: 9766: 9764: 9762: 9756: 9749: 9741: 9735: 9734: 9732: 9730: 9719:ARKA News Agency 9711: 9705: 9704: 9702: 9700: 9694: 9687: 9679: 9670: 9669: 9667: 9665: 9646: 9640: 9639: 9637: 9635: 9624:ARKA News Agency 9616: 9610: 9609: 9607: 9600: 9592: 9577: 9576: 9574: 9572: 9552: 9543: 9542: 9540: 9538: 9527:www.ceicdata.com 9519: 9513: 9512: 9510: 9508: 9493: 9487: 9468: 9462: 9461: 9459: 9457: 9438: 9429: 9410: 9399: 9398: 9396: 9394: 9375: 9369: 9352: 9341: 9324: 9315: 9314: 9312: 9310: 9291: 9282: 9281: 9279: 9277: 9262: 9251: 9250: 9248: 9246: 9227: 9221: 9220: 9218: 9216: 9195: 9189: 9188: 9186: 9184: 9164: 9158: 9157: 9155: 9153: 9147: 9136: 9128: 9122: 9121: 9119: 9117: 9098: 9092: 9091: 9089: 9087: 9072: 9066: 9065: 9063: 9061: 9042: 9036: 9035: 9033: 9031: 9016: 9010: 9009: 9007: 9005: 8994:www.facebook.com 8986: 8980: 8979: 8951: 8945: 8944: 8942: 8931: 8923: 8914: 8913: 8911: 8909: 8903: 8896: 8888: 8882: 8881: 8870: 8864: 8863: 8861: 8859: 8853: 8847:. 1 March 2019. 8842: 8834: 8825: 8824: 8822: 8820: 8805: 8799: 8798: 8796: 8794: 8783:ARKA News Agency 8775: 8769: 8768: 8766: 8764: 8745: 8739: 8722: 8713: 8712: 8710: 8708: 8689: 8680: 8679: 8677: 8675: 8656: 8650: 8649: 8647: 8645: 8630: 8624: 8623: 8621: 8619: 8600: 8594: 8593: 8591: 8589: 8570: 8564: 8563: 8561: 8559: 8553: 8546: 8535: 8529: 8528: 8526: 8524: 8505: 8499: 8482: 8471: 8454: 8443: 8442: 8440: 8438: 8419: 8413: 8412: 8410: 8408: 8389: 8383: 8382: 8380: 8378: 8359: 8353: 8352: 8350: 8348: 8333: 8327: 8326: 8324: 8322: 8303: 8297: 8296: 8294: 8292: 8273: 8267: 8266: 8264: 8262: 8251:www.ceicdata.com 8243: 8237: 8236: 8234: 8232: 8221:www.ceicdata.com 8213: 8207: 8206: 8204: 8202: 8187: 8181: 8180: 8178: 8176: 8157: 8151: 8150: 8148: 8146: 8131: 8120: 8119: 8117: 8115: 8095: 8086: 8085: 8083: 8081: 8062: 8056: 8055: 8053: 8051: 8036: 8030: 8029: 8023: 8019: 8017: 8009: 8007: 8005: 7962: 7956: 7955: 7953: 7951: 7936: 7930: 7929: 7927: 7925: 7910: 7904: 7903: 7901: 7899: 7893: 7886: 7878: 7869: 7868: 7866: 7864: 7845: 7839: 7838: 7836: 7834: 7815: 7809: 7808: 7806: 7804: 7798: 7791: 7783: 7774: 7773: 7771: 7769: 7763: 7756: 7748: 7742: 7741: 7739: 7737: 7731: 7720: 7712: 7706: 7689: 7683: 7682: 7680: 7678: 7672: 7665: 7657: 7651: 7650: 7645:. Archived from 7639: 7633: 7632: 7630: 7628: 7613: 7607: 7590: 7581: 7571: 7560: 7559: 7557: 7555: 7549: 7542: 7534: 7523: 7522: 7520: 7518: 7499: 7493: 7492: 7490: 7488: 7482: 7475: 7467: 7456: 7455: 7453: 7451: 7445: 7438: 7430: 7424: 7423: 7421: 7419: 7400: 7394: 7393: 7391: 7389: 7370: 7364: 7363: 7361: 7359: 7340: 7334: 7324: 7318: 7317: 7315: 7309:. Archived from 7298: 7288: 7241: 7240: 7238: 7236: 7217: 7211: 7210: 7208: 7206: 7200:World Bank Blogs 7192: 7186: 7185: 7183: 7181: 7176: 7157: 7148: 7147: 7142: 7134: 7128: 7127: 7125: 7123: 7104: 7098: 7097: 7095: 7093: 7074: 7068: 7067: 7065: 7063: 7044: 7038: 7037: 7035: 7033: 7022:ARKA News Agency 7014: 7008: 7007: 7005: 7003: 6988: 6982: 6981: 6979: 6977: 6962: 6956: 6955: 6953: 6951: 6932: 6923: 6922: 6920: 6918: 6903: 6897: 6896: 6894: 6892: 6873: 6867: 6866: 6864: 6862: 6843: 6837: 6836: 6834: 6832: 6817: 6808: 6807: 6805: 6803: 6784: 6778: 6777: 6775: 6773: 6754: 6748: 6747: 6745: 6743: 6729: 6723: 6722: 6720: 6718: 6698: 6692: 6691: 6680: 6674: 6673: 6654: 6641: 6640: 6628: 6617: 6611: 6610:, p. 50–51. 6605: 6599: 6593: 6582: 6581:, p. 48–50. 6576: 6570: 6564: 6558: 6557: 6525: 6512: 6506: 6500: 6499:, p. 42–43. 6494: 6488: 6487: 6485: 6483: 6473: 6453: 6447: 6441: 6430: 6429: 6427: 6425: 6418:Transparency.org 6410: 6404: 6403: 6385: 6379: 6378: 6360: 6354: 6353: 6351: 6349: 6330: 6324: 6323: 6321: 6319: 6301: 6295: 6294: 6292: 6290: 6279:Fraser Institute 6271: 6265: 6264: 6262: 6260: 6249:www.heritage.org 6241: 6235: 6234: 6232: 6230: 6211: 6205: 6204: 6202: 6200: 6185: 6179: 6178: 6142: 6133: 6132: 6130: 6128: 6109: 6103: 6098: 6096: 6094: 6074: 6068: 6067: 6065: 6063: 6048: 6039: 6038: 6036: 6034: 6015: 6009: 6008: 6006: 6004: 5998: 5991: 5983: 5977: 5965: 5959: 5958: 5956: 5954: 5935: 5926: 5925: 5923: 5921: 5907: 5901: 5900: 5898: 5896: 5881: 5875: 5874: 5872: 5870: 5859: 5853: 5852: 5841: 5835: 5834: 5832: 5830: 5811: 5805: 5804: 5797: 5791: 5790: 5788: 5786: 5767: 5761: 5760: 5758: 5756: 5737: 5731: 5730: 5728: 5726: 5711: 5702: 5701: 5699: 5697: 5674: 5668: 5667: 5665: 5663: 5640: 5634: 5633: 5631: 5629: 5618: 5612: 5611: 5609: 5607: 5592: 5586: 5585: 5583: 5581: 5567: 5561: 5560: 5554: 5550: 5548: 5540: 5538: 5536: 5505: 5499: 5498: 5496: 5494: 5471: 5465: 5460: 5458: 5456: 5436: 5411: 5410: 5403: 5397: 5396: 5394: 5392: 5377: 5338: 5337: 5335: 5333: 5322:World Bank Group 5314: 5308: 5307: 5305: 5303: 5284: 5227: 5225:Economics portal 5222: 5221: 5213: 5208: 5207: 5115:informal economy 5031:Labor occupation 4951: 4950: 4948: 4947: 4946: 4941: 4937: 4934: 4933: 4932: 4929: 4796:Robert Kocharyan 4705:Mikhail Kasyanov 4387: 4381: 4375: 4369: 4363: 4357: 4351: 4345: 4339: 4333: 4327: 4321: 4315: 4309: 4303: 4297: 4291: 4261: 4116:by end of 2017, 4105: 4104: 4050:Million dollars 4044: 4040: 3856:Net flow of FDI 3836: 3835: 3736: 3732: 3702: 3701: 3694: 3462: 3456: 3450: 3444: 3438: 3432: 3426: 3420: 3414: 3409:Switzerland: 12% 3408: 3402: 3396: 3390: 3384: 3357: 3345: 3339: 3333: 3327: 3321: 3315: 3296: 3270: 3269: 3262: 3053:Cash remittances 3010: 3009: 3002: 2938:Financial system 2891:Armenian economy 2751:Insurance system 2591: 2583: 2393:As of 2010, the 2235: 2233: 2232: 2053:Armavir Province 1985: 1983: 1982: 1944: 1943: 1513: 1512: 1380:Nagorno-Karabakh 1191:Fraser Institute 1138:Nagorno-Karabakh 1130:ongoing conflict 1102:Armenians abroad 1090:synthetic rubber 1036: 1035: 1027: 1026:Foreign reserves 1017: 1016: 1009: 1008: 999: 969: 959: 958: 950: 935: 934: 926: 915: 914: 906: 893: 892: 885: 884: 861: 859: 858: 850: 848: 847: 839: 837: 836: 828: 826: 825: 817: 815: 814: 806: 804: 803: 795: 793: 792: 784: 782: 781: 753: 752: 737: 735: 734: 726: 724: 723: 715: 713: 712: 704: 702: 701: 693: 691: 690: 682: 680: 679: 671: 669: 668: 660: 658: 657: 629: 628: 586: 560: 559: 552: 551: 499: 498: 492:1,380,405 (2019) 491: 490: 469: 468: 445: 441: 440: 429: 425: 424: 405: 401: 400: 392: 391:Gini coefficient 379: 378: 371: 370: 360: 343:2.0% (2023 est.) 340:3.1% (2024 est.) 280:(PPP, 2024 est.) 254: 253: 246: 245: 225: 224: 218:8.7% (2023 est.) 217: 216: 210:6.0% (2024 est.) 209: 208: 189:(PPP, 2024 est.) 161: 160: 153: 152: 135: 134: 44: 37: 35: 28: 21: 18:Armenian economy 14207: 14206: 14202: 14201: 14200: 14198: 14197: 14196: 14172: 14171: 14170: 14165: 14157: 14150: 14143: 14130: 14111:National anthem 14074: 14024: 13957: 13857: 13839: 13800:Dram (currency) 13758: 13636: 13547: 13534: 13501: 13475: 13471:Russian Armenia 13429:Ottoman Armenia 13372: 13358:Parthian Empire 13331:Orontid dynasty 13241: 13240: 13231: 13222: 13192: 13187: 13159: 13127: 13118: 13099:Northern Cyprus 13085: 13078: 12820: 12815: 12785: 12780: 12764: 12722: 12716: 12702:Northern Cyprus 12684: 12678: 12594:North Macedonia 12415: 12410: 12380: 12375: 12363: 12336: 12188: 12064:Solomon Islands 11959:North Macedonia 11497: 11473:Roberto Azevêdo 11451: 11378: 11371: 11300: 11264: 11228: 11223: 11164: 11159: 11153: 11132: 11127: 11122: 11121: 11111: 11109: 11096: 11095: 11091: 11081: 11079: 11075: 11068: 11064: 11063: 11059: 11049: 11047: 11034: 11033: 11029: 11021: 11014: 11010: 11009: 11005: 10995: 10993: 10988:(in Armenian). 10978: 10974: 10964: 10962: 10949: 10948: 10944: 10934: 10932: 10923: 10922: 10915: 10905: 10903: 10890: 10889: 10885: 10875: 10873: 10869: 10862: 10858: 10857: 10850: 10840: 10838: 10825: 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10073: 10071: 10060: 10054:Wayback Machine 10043: 10034: 10024: 10022: 10009: 10008: 10004: 9994: 9992: 9979: 9978: 9974: 9964: 9962: 9949: 9948: 9941: 9931: 9929: 9921: 9920: 9916: 9906: 9904: 9891: 9890: 9886: 9880:Wayback Machine 9871: 9867: 9857: 9855: 9851: 9847:(in Armenian). 9844: 9840: 9839: 9832: 9822: 9820: 9807: 9806: 9802: 9792: 9790: 9786: 9779: 9775: 9774: 9770: 9760: 9758: 9754: 9747: 9743: 9742: 9738: 9728: 9726: 9713: 9712: 9708: 9698: 9696: 9692: 9685: 9681: 9680: 9673: 9663: 9661: 9648: 9647: 9643: 9633: 9631: 9618: 9617: 9613: 9605: 9598: 9594: 9593: 9580: 9570: 9568: 9563:(in Armenian). 9553: 9546: 9536: 9534: 9521: 9520: 9516: 9506: 9504: 9495: 9494: 9490: 9480:Wayback Machine 9469: 9465: 9455: 9453: 9440: 9439: 9432: 9422:Wayback Machine 9411: 9402: 9392: 9390: 9377: 9376: 9372: 9362:Wayback Machine 9353: 9344: 9334:Wayback Machine 9325: 9318: 9308: 9306: 9293: 9292: 9285: 9275: 9273: 9268:(in Armenian). 9264: 9263: 9254: 9244: 9242: 9237:. 21 May 2019. 9229: 9228: 9224: 9214: 9212: 9197: 9196: 9192: 9182: 9180: 9165: 9161: 9151: 9149: 9145: 9134: 9130: 9129: 9125: 9115: 9113: 9100: 9099: 9095: 9085: 9083: 9074: 9073: 9069: 9059: 9057: 9044: 9043: 9039: 9029: 9027: 9018: 9017: 9013: 9003: 9001: 8988: 8987: 8983: 8952: 8948: 8940: 8929: 8925: 8924: 8917: 8907: 8905: 8901: 8894: 8890: 8889: 8885: 8872: 8871: 8867: 8857: 8855: 8851: 8840: 8836: 8835: 8828: 8818: 8816: 8807: 8806: 8802: 8792: 8790: 8777: 8776: 8772: 8762: 8760: 8747: 8746: 8742: 8732:Wayback Machine 8723: 8716: 8706: 8704: 8691: 8690: 8683: 8673: 8671: 8658: 8657: 8653: 8643: 8641: 8632: 8631: 8627: 8617: 8615: 8608:PanARMENIAN.Net 8602: 8601: 8597: 8587: 8585: 8572: 8571: 8567: 8557: 8555: 8551: 8544: 8536: 8532: 8522: 8520: 8507: 8506: 8502: 8492:Wayback Machine 8483: 8474: 8464:Wayback Machine 8455: 8446: 8436: 8434: 8427:country.eiu.com 8421: 8420: 8416: 8406: 8404: 8391: 8390: 8386: 8376: 8374: 8361: 8360: 8356: 8346: 8344: 8335: 8334: 8330: 8320: 8318: 8305: 8304: 8300: 8290: 8288: 8275: 8274: 8270: 8260: 8258: 8245: 8244: 8240: 8230: 8228: 8215: 8214: 8210: 8200: 8198: 8189: 8188: 8184: 8174: 8172: 8159: 8158: 8154: 8144: 8142: 8133: 8132: 8123: 8113: 8111: 8106:(in Armenian). 8096: 8089: 8079: 8077: 8064: 8063: 8059: 8049: 8047: 8038: 8037: 8033: 8021: 8020: 8011: 8010: 8003: 8001: 7986: 7964: 7963: 7959: 7949: 7947: 7945:www.panorama.am 7937: 7933: 7923: 7921: 7911: 7907: 7897: 7895: 7891: 7884: 7880: 7879: 7872: 7862: 7860: 7847: 7846: 7842: 7832: 7830: 7817: 7816: 7812: 7802: 7800: 7796: 7789: 7785: 7784: 7777: 7767: 7765: 7761: 7754: 7750: 7749: 7745: 7735: 7733: 7729: 7718: 7714: 7713: 7709: 7699:Wayback Machine 7690: 7686: 7676: 7674: 7670: 7663: 7659: 7658: 7654: 7641: 7640: 7636: 7626: 7624: 7615: 7614: 7610: 7600:Wayback Machine 7591: 7584: 7572: 7563: 7553: 7551: 7547: 7540: 7536: 7535: 7526: 7516: 7514: 7501: 7500: 7496: 7486: 7484: 7480: 7473: 7469: 7468: 7459: 7449: 7447: 7443: 7436: 7432: 7431: 7427: 7417: 7415: 7402: 7401: 7397: 7387: 7385: 7372: 7371: 7367: 7357: 7355: 7342: 7341: 7337: 7325: 7321: 7313: 7307: 7296: 7290: 7289: 7244: 7234: 7232: 7219: 7218: 7214: 7204: 7202: 7194: 7193: 7189: 7179: 7177: 7159: 7158: 7151: 7140: 7136: 7135: 7131: 7121: 7119: 7106: 7105: 7101: 7091: 7089: 7076: 7075: 7071: 7061: 7059: 7046: 7045: 7041: 7031: 7029: 7016: 7015: 7011: 7001: 6999: 6990: 6989: 6985: 6975: 6973: 6964: 6963: 6959: 6949: 6947: 6934: 6933: 6926: 6916: 6914: 6905: 6904: 6900: 6890: 6888: 6875: 6874: 6870: 6860: 6858: 6845: 6844: 6840: 6830: 6828: 6821:"ARKA 2017 GDP" 6819: 6818: 6811: 6801: 6799: 6786: 6785: 6781: 6771: 6769: 6756: 6755: 6751: 6741: 6739: 6731: 6730: 6726: 6716: 6714: 6709:(in Armenian). 6699: 6695: 6682: 6681: 6677: 6670: 6656: 6655: 6644: 6637: 6626: 6618: 6614: 6606: 6602: 6594: 6585: 6577: 6573: 6565: 6561: 6526: 6515: 6507: 6503: 6495: 6491: 6481: 6479: 6454: 6450: 6442: 6433: 6423: 6421: 6412: 6411: 6407: 6400: 6386: 6382: 6375: 6361: 6357: 6347: 6345: 6332: 6331: 6327: 6317: 6315: 6303: 6302: 6298: 6288: 6286: 6273: 6272: 6268: 6258: 6256: 6243: 6242: 6238: 6228: 6226: 6213: 6212: 6208: 6198: 6196: 6187: 6186: 6182: 6143: 6136: 6126: 6124: 6111: 6110: 6106: 6092: 6090: 6076: 6075: 6071: 6061: 6059: 6050: 6049: 6042: 6032: 6030: 6017: 6016: 6012: 6002: 6000: 5996: 5989: 5985: 5984: 5980: 5975:Wayback Machine 5966: 5962: 5952: 5950: 5937: 5936: 5929: 5919: 5917: 5909: 5908: 5904: 5894: 5892: 5883: 5882: 5878: 5868: 5866: 5861: 5860: 5856: 5843: 5842: 5838: 5828: 5826: 5813: 5812: 5808: 5799: 5798: 5794: 5784: 5782: 5769: 5768: 5764: 5754: 5752: 5739: 5738: 5734: 5724: 5722: 5713: 5712: 5705: 5695: 5693: 5676: 5675: 5671: 5661: 5659: 5642: 5641: 5637: 5627: 5625: 5620: 5619: 5615: 5605: 5603: 5602:. 13 March 2024 5594: 5593: 5589: 5579: 5577: 5569: 5568: 5564: 5552: 5551: 5542: 5541: 5534: 5532: 5525: 5507: 5506: 5502: 5492: 5490: 5473: 5472: 5468: 5454: 5452: 5438: 5437: 5414: 5405: 5404: 5400: 5390: 5388: 5387:. 16 April 2024 5379: 5378: 5341: 5331: 5329: 5316: 5315: 5311: 5301: 5299: 5286: 5285: 5281: 5276: 5223: 5216: 5211:Business portal 5209: 5202: 5199: 5181: 5175: 5151: 5149:Migrant workers 5142: 5103:Hrant Bagratyan 5090:Nikol Pashinyan 5078: 5063: 5055: 5049: 5033: 5028: 5013: 4990: 4944: 4942: 4938: 4935: 4930: 4927: 4925: 4923: 4922: 4889: 4887:Through Georgia 4882: 4879: 4871: 4860: 4848: 4835: 4829: 4805:Serge Sarkisian 4794:Critics of the 4792: 4784:Gazprom Armenia 4717:Serge Sarkisian 4678: 4644:Hrant Bagratyan 4625:anticompetitive 4540:Gazprom Armenia 4529: 4524: 4518: 4498: 4478: 4452: 4439: 4403: 4398: 4393: 4392: 4391: 4385: 4379: 4373: 4367: 4361: 4355: 4349: 4343: 4337: 4331: 4325: 4319: 4313: 4307: 4301: 4295: 4289: 4285: 4284: 4280: 4259: 4247: 4118:in billion AMD 4115: 4038:and the world. 4028: 3861:in billion AMD 3852:in billion AMD 3849: 3848:Net flow of FDI 3721: 3716: 3703: 3699: 3691: 3665: 3656: 3647: 3635: 3626: 3614: 3592: 3566: 3556: 3551: 3528: 3504: 3468: 3467: 3466: 3460: 3454: 3448: 3442: 3436: 3430: 3424: 3418: 3412: 3406: 3400: 3397:Netherlands: 4% 3394: 3388: 3385:Bulgaria: 12.8% 3382: 3378: 3377: 3373: 3355: 3350: 3349: 3343: 3337: 3331: 3325: 3319: 3313: 3309: 3308: 3304: 3294: 3284: 3271: 3267: 3260: 3255: 3250: 3234: 3232:Value-added tax 3225: 3216: 3207: 3202: 3196: 3190: 3168:In August 2019 3166: 3161: 3155: 3134: 3111: 3105: 3055: 3040: 3035: 3034: 3033: 3032: 3029: 3024: 3011: 3007: 2993: 2957: 2952: 2946: 2940: 2876: 2870: 2576: 2570: 2561: 2555: 2537: 2520:services sector 2516: 2514:Services sector 2499: 2490: 2488:Digital economy 2478: 2470:Main articles: 2468: 2444: 2421: 2415: 2310: 2304: 2299: 2260: 2230: 2228: 2185:Tavush Province 2119:Shirak Province 2075:Syunik Province 2031:Kotayk Province 2009:Ararat Province 1980: 1978: 1939: 1468: 1418:earthquake zone 1372:1988 earthquake 1367:planned economy 1360:Hrant Bagratyan 1312:economic reform 1304: 1235: 1161: 1155: 1142:economic system 1118: 1056: 1050: 1029: 1025: 1011: 1001: 997: 971: 967: 952: 949:Government debt 948: 941:Public finances 928: 924: 908: 905:Current account 904: 897: 875: 865: 856: 854: 845: 843: 834: 832: 823: 821: 812: 810: 801: 799: 790: 788: 779: 777: 771: 761: 741: 732: 730: 721: 719: 710: 708: 699: 697: 688: 686: 677: 675: 666: 664: 655: 653: 647: 637: 601: 600:Main industries 588: 584: 571: 564: 537: 510: 503: 481: 462: 453: 443: 427: 415: 403: 394: 390: 383: 361: 356: 349: 334: 320: 290: 283: 265: 258: 236: 229: 199: 192: 169: 118: 104: 80: 70: 50: 31: 23: 22: 15: 12: 11: 5: 14205: 14195: 14194: 14189: 14184: 14167: 14166: 14164: 14163: 14156: 14155: 14148: 14140: 14139: 14136: 14135: 14132: 14131: 14129: 14128: 14123: 14118: 14113: 14108: 14103: 14098: 14093: 14088: 14086:Armenian Cross 14082: 14080: 14076: 14075: 14073: 14072: 14065: 14060: 14055: 14050: 14045: 14040: 14034: 14032: 14026: 14025: 14023: 14022: 14015: 14010: 14005: 14004: 14003: 13993: 13988: 13983: 13978: 13973: 13967: 13965: 13959: 13958: 13956: 13955: 13948: 13943: 13938: 13933: 13928: 13927: 13926: 13921: 13911: 13906: 13896: 13891: 13886: 13881: 13875: 13869: 13863: 13862: 13859: 13858: 13856: 13855: 13849: 13847: 13841: 13840: 13838: 13837: 13832: 13827: 13822: 13817: 13815:Pension reform 13812: 13807: 13802: 13797: 13792: 13787: 13782: 13776: 13770: 13764: 13763: 13760: 13759: 13757: 13756: 13749: 13742: 13737: 13735:Prime Minister 13732: 13727: 13722: 13717: 13712: 13707: 13702: 13697: 13696: 13695: 13685: 13680: 13675: 13670: 13665: 13660: 13654: 13648: 13642: 13641: 13638: 13637: 13635: 13634: 13627: 13622: 13617: 13612: 13607: 13605:Municipalities 13602: 13597: 13592: 13590:Extreme points 13587: 13582: 13577: 13572: 13567: 13561: 13555: 13549: 13548: 13541: 13539: 13536: 13535: 13533: 13532: 13525: 13520: 13515: 13509: 13507: 13503: 13502: 13500: 13499: 13494: 13492:Soviet Armenia 13489: 13483: 13481: 13477: 13476: 13474: 13473: 13468: 13467: 13466: 13461: 13456: 13454:Erivan Khanate 13446: 13441: 13436: 13431: 13426: 13421: 13416: 13411: 13406: 13401: 13396: 13391: 13386: 13380: 13378: 13374: 13373: 13371: 13370: 13365: 13360: 13355: 13350: 13345: 13344: 13343: 13333: 13328: 13326:Median kingdom 13323: 13318: 13313: 13308: 13303: 13298: 13293: 13288: 13283: 13278: 13273: 13268: 13263: 13257: 13255: 13248: 13233: 13232: 13221: 13220: 13213: 13206: 13198: 13189: 13188: 13186: 13185: 13175: 13164: 13161: 13160: 13158: 13157: 13152: 13147: 13142: 13137: 13131: 13129: 13120: 13119: 13117: 13116: 13111: 13106: 13101: 13096: 13090: 13088: 13080: 13079: 13077: 13076: 13071: 13066: 13061: 13056: 13051: 13046: 13041: 13036: 13031: 13026: 13021: 13016: 13011: 13006: 13001: 12996: 12991: 12986: 12981: 12976: 12971: 12966: 12961: 12956: 12951: 12946: 12941: 12936: 12931: 12926: 12921: 12916: 12911: 12906: 12901: 12896: 12891: 12886: 12881: 12876: 12871: 12866: 12861: 12856: 12851: 12846: 12841: 12836: 12830: 12828: 12822: 12821: 12814: 12813: 12806: 12799: 12791: 12782: 12781: 12779: 12778: 12776:European Union 12772: 12770: 12769:Other entities 12766: 12765: 12763: 12762: 12757: 12752: 12747: 12742: 12737: 12732: 12726: 12724: 12723:other entities 12718: 12717: 12715: 12714: 12709: 12704: 12699: 12694: 12688: 12686: 12680: 12679: 12677: 12676: 12671: 12669:United Kingdom 12666: 12661: 12656: 12651: 12646: 12641: 12636: 12631: 12626: 12621: 12616: 12611: 12606: 12601: 12596: 12591: 12586: 12581: 12576: 12571: 12566: 12561: 12556: 12551: 12546: 12541: 12536: 12534: 12529: 12524: 12519: 12514: 12509: 12504: 12499: 12494: 12489: 12484: 12482:Czech Republic 12479: 12474: 12469: 12464: 12459: 12454: 12449: 12444: 12439: 12434: 12429: 12423: 12421: 12417: 12416: 12409: 12408: 12401: 12394: 12386: 12377: 12376: 12360: 12359: 12352: 12345: 12342: 12341: 12338: 12337: 12335: 12334: 12329: 12324: 12319: 12314: 12309: 12304: 12299: 12294: 12289: 12284: 12279: 12274: 12269: 12264: 12259: 12254: 12249: 12244: 12239: 12234: 12229: 12227:Czech Republic 12224: 12219: 12214: 12209: 12204: 12198: 12196: 12194:European Union 12187: 12186: 12181: 12176: 12171: 12166: 12161: 12156: 12151: 12149:United Kingdom 12146: 12141: 12136: 12131: 12126: 12121: 12116: 12111: 12106: 12101: 12096: 12091: 12086: 12081: 12076: 12071: 12066: 12061: 12056: 12051: 12046: 12041: 12036: 12031: 12026: 12021: 12016: 12011: 12006: 12001: 11996: 11991: 11986: 11981: 11976: 11971: 11966: 11961: 11956: 11951: 11946: 11941: 11936: 11931: 11926: 11921: 11916: 11911: 11906: 11901: 11896: 11891: 11886: 11881: 11876: 11871: 11866: 11861: 11856: 11851: 11846: 11841: 11836: 11831: 11826: 11821: 11816: 11811: 11806: 11801: 11796: 11791: 11786: 11781: 11776: 11771: 11766: 11761: 11756: 11751: 11746: 11741: 11736: 11731: 11726: 11721: 11716: 11711: 11706: 11701: 11696: 11691: 11686: 11681: 11676: 11671: 11666: 11661: 11656: 11651: 11646: 11641: 11636: 11631: 11626: 11621: 11616: 11611: 11606: 11601: 11596: 11591: 11586: 11581: 11576: 11571: 11566: 11561: 11556: 11551: 11546: 11541: 11536: 11531: 11526: 11521: 11516: 11511: 11505: 11503: 11499: 11498: 11496: 11495: 11490: 11488:Alejandro Jara 11485: 11480: 11475: 11470: 11459: 11457: 11453: 11452: 11450: 11449: 11444: 11439: 11434: 11429: 11424: 11419: 11414: 11409: 11404: 11399: 11394: 11389: 11383: 11381: 11373: 11372: 11370: 11369: 11364: 11359: 11354: 11349: 11344: 11339: 11334: 11329: 11324: 11319: 11314: 11308: 11306: 11302: 11301: 11299: 11298: 11293: 11288: 11283: 11278: 11272: 11270: 11266: 11265: 11263: 11262: 11257: 11252: 11247: 11245:Appellate Body 11242: 11236: 11234: 11230: 11229: 11222: 11221: 11214: 11207: 11199: 11193: 11192: 11187: 11182: 11177: 11163: 11162:External links 11160: 11158: 11157: 11151: 11133: 11131: 11128: 11126: 11123: 11120: 11119: 11089: 11057: 11027: 11003: 10972: 10955:www.armstat.am 10942: 10913: 10883: 10848: 10831:www.armstat.am 10818: 10788: 10771:www.armstat.am 10758: 10728: 10711:www.armstat.am 10698: 10659: 10627: 10599: 10573: 10543: 10540:(in Armenian). 10529: 10511: 10484: 10466: 10436: 10405: 10379: 10365: 10344: 10323: 10302: 10288: 10274: 10256: 10235: 10214: 10200: 10179: 10165: 10151: 10126: 10105: 10058: 10032: 10002: 9972: 9939: 9914: 9884: 9865: 9830: 9800: 9768: 9736: 9706: 9671: 9641: 9611: 9601:(in Russian). 9578: 9544: 9514: 9488: 9463: 9430: 9400: 9370: 9342: 9316: 9283: 9252: 9222: 9190: 9159: 9141:(in Russian). 9123: 9093: 9067: 9037: 9011: 8981: 8946: 8915: 8883: 8865: 8826: 8800: 8770: 8740: 8714: 8681: 8651: 8625: 8595: 8565: 8530: 8500: 8472: 8444: 8414: 8384: 8354: 8328: 8311:www.armstat.am 8298: 8281:www.finport.am 8268: 8238: 8208: 8182: 8152: 8121: 8087: 8057: 8031: 8022:|website= 7984: 7957: 7931: 7905: 7870: 7840: 7810: 7775: 7743: 7707: 7684: 7652: 7634: 7608: 7582: 7561: 7524: 7494: 7457: 7425: 7395: 7365: 7335: 7319: 7305: 7242: 7212: 7187: 7149: 7129: 7099: 7069: 7039: 7009: 6983: 6957: 6924: 6898: 6868: 6851:www.google.com 6838: 6809: 6779: 6749: 6724: 6693: 6675: 6668: 6642: 6635: 6612: 6600: 6583: 6571: 6559: 6540:(2): 193–222. 6513: 6501: 6489: 6448: 6431: 6405: 6398: 6380: 6373: 6355: 6325: 6296: 6266: 6236: 6206: 6180: 6134: 6117:www.export.gov 6104: 6069: 6040: 6010: 5978: 5960: 5927: 5902: 5876: 5854: 5836: 5819:massispost.com 5806: 5792: 5762: 5732: 5703: 5669: 5635: 5613: 5587: 5562: 5553:|website= 5523: 5500: 5466: 5412: 5398: 5339: 5309: 5278: 5277: 5275: 5272: 5271: 5270: 5265: 5260: 5255: 5250: 5245: 5240: 5235: 5229: 5228: 5214: 5198: 5195: 5174: 5171: 5159:migrant worker 5150: 5147: 5141: 5138: 5077: 5074: 5062: 5059: 5048: 5045: 5041:South Caucasus 5032: 5029: 5027: 5024: 5012: 5009: 4989: 4986: 4888: 4885: 4878: 4875: 4870: 4867: 4859: 4856: 4847: 4844: 4828: 4825: 4791: 4788: 4734: 4733: 4730: 4727: 4677: 4674: 4640:prime minister 4621: 4620: 4616: 4611:(supplying to 4605: 4590: 4589: 4586: 4583: 4572: 4571: 4565: 4558: 4547: 4528: 4525: 4517: 4514: 4497: 4494: 4451: 4448: 4438: 4437:European Union 4435: 4402: 4399: 4397: 4394: 4390: 4389: 4383: 4377: 4371: 4365: 4359: 4353: 4347: 4341: 4335: 4329: 4323: 4317: 4311: 4305: 4299: 4293: 4286: 4257: 4256: 4255: 4254: 4246: 4243: 4233: 4232: 4229: 4225: 4224: 4221: 4217: 4216: 4213: 4209: 4208: 4205: 4201: 4200: 4197: 4193: 4192: 4189: 4185: 4184: 4181: 4177: 4176: 4173: 4169: 4168: 4165: 4161: 4160: 4157: 4153: 4152: 4149: 4145: 4144: 4141: 4137: 4136: 4133: 4129: 4128: 4125: 4121: 4120: 4114:Stock net FDI 4112: 4098: 4097: 4094: 4091: 4087: 4086: 4083: 4080: 4076: 4075: 4072: 4069: 4065: 4064: 4062: 4059: 4055: 4054: 4051: 4048: 4027: 4024: 4018: 4017: 4014: 4011: 4007: 4006: 4003: 4000: 3996: 3995: 3992: 3989: 3985: 3984: 3981: 3978: 3974: 3973: 3970: 3967: 3963: 3962: 3959: 3956: 3952: 3951: 3948: 3945: 3941: 3940: 3937: 3934: 3930: 3929: 3926: 3923: 3919: 3918: 3915: 3912: 3908: 3907: 3904: 3901: 3897: 3896: 3893: 3890: 3886: 3885: 3882: 3879: 3875: 3874: 3871: 3868: 3864: 3863: 3854: 3846: 3818: 3817: 3814: 3811: 3808: 3805: 3801: 3800: 3797: 3794: 3791: 3788: 3784: 3783: 3780: 3777: 3774: 3771: 3767: 3766: 3764: 3762: 3760: 3757: 3753: 3752: 3749: 3746: 3743: 3740: 3718: 3717: 3706: 3704: 3697: 3692: 3690: 3687: 3664: 3661: 3655: 3652: 3646: 3643: 3634: 3631: 3625: 3622: 3613: 3610: 3591: 3588: 3583:European Union 3555: 3554:European Union 3552: 3550: 3547: 3527: 3524: 3503: 3500: 3465: 3464: 3458: 3452: 3446: 3440: 3434: 3428: 3422: 3416: 3410: 3404: 3398: 3392: 3386: 3379: 3353: 3352: 3351: 3348: 3347: 3341: 3335: 3329: 3323: 3317: 3310: 3292: 3291: 3290: 3289: 3286: 3285: 3274: 3272: 3265: 3259: 3256: 3254: 3251: 3249: 3246: 3233: 3230: 3224: 3221: 3215: 3212: 3206: 3203: 3192:Main article: 3189: 3186: 3165: 3162: 3154: 3151: 3141:unemployment. 3133: 3130: 3107:Main article: 3104: 3101: 3084:productivity. 3054: 3051: 3039: 3036: 3030: 3026: 3025: 3014: 3012: 3005: 3000: 2999: 2998: 2997: 2992: 2989: 2956: 2953: 2942:Main article: 2939: 2936: 2872:Main article: 2869: 2866: 2860: 2859: 2857: 2854: 2850: 2849: 2847: 2844: 2840: 2839: 2837: 2835: 2829: 2828: 2826: 2823: 2819: 2818: 2816: 2813: 2809: 2808: 2806: 2803: 2799: 2798: 2796: 2794: 2788: 2787: 2785: 2782: 2778: 2777: 2775: 2772: 2768: 2767: 2765: 2762: 2758: 2757: 2755: 2753: 2747: 2746: 2744: 2741: 2737: 2736: 2734: 2731: 2727: 2726: 2724: 2721: 2717: 2716: 2714: 2712: 2706: 2705: 2703: 2700: 2696: 2695: 2693: 2690: 2686: 2685: 2683: 2680: 2676: 2675: 2673: 2670: 2666: 2665: 2663: 2660: 2656: 2655: 2653: 2650: 2646: 2645: 2642: 2639: 2635: 2634: 2631: 2628: 2624: 2623: 2620: 2617: 2613: 2612: 2610: 2608: 2606:Banking system 2602: 2601: 2598: 2595: 2572:Main article: 2569: 2566: 2554: 2551: 2536: 2533: 2515: 2512: 2498: 2495: 2489: 2486: 2467: 2464: 2443: 2440: 2417:Main article: 2414: 2411: 2357: 2356: 2353: 2350: 2347: 2344: 2341: 2338: 2335: 2332: 2329: 2326: 2323: 2320: 2317: 2306:Main article: 2303: 2300: 2298: 2295: 2259: 2258:2020 recession 2256: 2253: 2252: 2249: 2246: 2243: 2240: 2225: 2222: 2221: 2218: 2215: 2212: 2209: 2204: 2200: 2199: 2196: 2193: 2190: 2187: 2182: 2178: 2177: 2174: 2171: 2168: 2165: 2160: 2156: 2155: 2152: 2149: 2146: 2143: 2138: 2134: 2133: 2130: 2127: 2124: 2121: 2116: 2112: 2111: 2108: 2105: 2102: 2099: 2094: 2090: 2089: 2086: 2083: 2080: 2077: 2072: 2068: 2067: 2064: 2061: 2058: 2055: 2050: 2046: 2045: 2042: 2039: 2036: 2033: 2028: 2024: 2023: 2020: 2017: 2014: 2011: 2006: 2002: 2001: 1998: 1995: 1992: 1989: 1976: 1972: 1971: 1968: 1965: 1958: 1951: 1948: 1938: 1935: 1932: 1931: 1928: 1926: 1923: 1920: 1916: 1915: 1912: 1910: 1907: 1904: 1900: 1899: 1896: 1894: 1891: 1888: 1884: 1883: 1880: 1878: 1875: 1872: 1868: 1867: 1864: 1862: 1859: 1856: 1852: 1851: 1848: 1846: 1843: 1840: 1836: 1835: 1832: 1830: 1827: 1824: 1820: 1819: 1816: 1814: 1811: 1808: 1804: 1803: 1800: 1797: 1794: 1791: 1787: 1786: 1783: 1780: 1777: 1774: 1770: 1769: 1766: 1763: 1760: 1757: 1753: 1752: 1749: 1746: 1743: 1740: 1736: 1735: 1732: 1729: 1726: 1723: 1719: 1718: 1715: 1712: 1709: 1706: 1702: 1701: 1698: 1695: 1692: 1689: 1685: 1684: 1681: 1678: 1675: 1672: 1668: 1667: 1664: 1661: 1658: 1655: 1651: 1650: 1647: 1644: 1641: 1638: 1634: 1633: 1630: 1627: 1624: 1621: 1617: 1616: 1613: 1610: 1607: 1604: 1600: 1599: 1596: 1593: 1590: 1587: 1583: 1582: 1579: 1576: 1573: 1570: 1566: 1565: 1562: 1559: 1556: 1553: 1549: 1548: 1545: 1542: 1539: 1536: 1532: 1531: 1526: 1523: 1520: 1517: 1467: 1464: 1451:. However the 1441:European Union 1389:hyperinflation 1303: 1300: 1260:Vladimir Lenin 1234: 1231: 1205:Doing Business 1154: 1151: 1117: 1114: 1067:Armenian drams 1052: 1051: 1042: 1039: 1038: 1030: 1023: 1020: 1019: 1002: 995: 992: 991: 988: 984: 983: 980: 976: 975: 972: 968:Budget balance 965: 962: 961: 953: 946: 943: 942: 938: 937: 929: 921: 918: 917: 909: 902: 899: 898: 896: 895: 887: 878: 876: 870: 867: 866: 864: 863: 852: 841: 830: 819: 808: 797: 786: 774: 772: 769: 766: 765: 762: 759: 756: 755: 747: 743: 742: 740: 739: 728: 717: 706: 695: 684: 673: 662: 650: 648: 645: 642: 641: 638: 635: 632: 631: 623: 619: 618: 614: 613: 602: 599: 596: 595: 589: 582: 579: 578: 572: 569: 566: 565: 563: 562: 554: 545: 543: 539: 538: 536: 535: 532: 526: 520: 513: 511: 508: 505: 504: 502: 501: 493: 484: 482: 479: 476: 475: 463: 458: 455: 454: 452: 451: 435: 418: 416: 411: 408: 407: 395: 388: 385: 384: 382: 381: 373: 364: 362: 354: 351: 350: 348: 347: 344: 341: 337: 335: 325: 322: 321: 319: 318: 317:: 8.25% (2023) 312: 306: 300: 293: 291: 288: 285: 284: 282: 281: 275: 268: 266: 263: 260: 259: 257: 256: 248: 239: 237: 235:GDP per capita 234: 231: 230: 228: 227: 219: 211: 202: 200: 197: 194: 193: 191: 190: 184: 177: 175: 171: 170: 168: 167: 155: 146: 144: 138: 137: 129: 125: 124: 120: 119: 117: 116: 113: 107: 105: 102: 99: 98: 81: 78: 75: 74: 71: 66: 63: 62: 56: 52: 51: 45: 9: 6: 4: 3: 2: 14204: 14193: 14190: 14188: 14185: 14183: 14180: 14179: 14177: 14162: 14159: 14158: 14153: 14149: 14146: 14142: 14141: 14137: 14127: 14124: 14122: 14119: 14117: 14114: 14112: 14109: 14107: 14104: 14102: 14099: 14097: 14094: 14092: 14089: 14087: 14084: 14083: 14081: 14077: 14071: 14070: 14066: 14064: 14061: 14059: 14056: 14054: 14051: 14049: 14046: 14044: 14041: 14039: 14036: 14035: 14033: 14031: 14027: 14021: 14020: 14016: 14014: 14011: 14009: 14008:Social issues 14006: 14002: 13999: 13998: 13997: 13994: 13992: 13989: 13987: 13984: 13982: 13979: 13977: 13974: 13972: 13969: 13968: 13966: 13964: 13960: 13954: 13953: 13949: 13947: 13944: 13942: 13939: 13937: 13934: 13932: 13929: 13925: 13922: 13920: 13917: 13916: 13915: 13912: 13910: 13907: 13904: 13900: 13897: 13895: 13892: 13890: 13887: 13885: 13882: 13880: 13877: 13876: 13873: 13870: 13868: 13864: 13854: 13851: 13850: 13848: 13846: 13842: 13836: 13833: 13831: 13828: 13826: 13823: 13821: 13818: 13816: 13813: 13811: 13808: 13806: 13803: 13801: 13798: 13796: 13793: 13791: 13788: 13786: 13783: 13781: 13778: 13777: 13774: 13771: 13769: 13765: 13755: 13754: 13750: 13748: 13747: 13743: 13741: 13738: 13736: 13733: 13731: 13728: 13726: 13723: 13721: 13718: 13716: 13713: 13711: 13708: 13706: 13703: 13701: 13698: 13694: 13691: 13690: 13689: 13686: 13684: 13681: 13679: 13676: 13674: 13671: 13669: 13666: 13664: 13661: 13659: 13656: 13655: 13652: 13649: 13647: 13643: 13633: 13632: 13628: 13626: 13623: 13621: 13618: 13616: 13613: 13611: 13608: 13606: 13603: 13601: 13598: 13596: 13593: 13591: 13588: 13586: 13583: 13581: 13578: 13576: 13573: 13571: 13568: 13566: 13563: 13562: 13559: 13556: 13554: 13550: 13545: 13531: 13530: 13526: 13524: 13521: 13519: 13516: 13514: 13511: 13510: 13508: 13504: 13498: 13495: 13493: 13490: 13488: 13485: 13484: 13482: 13478: 13472: 13469: 13465: 13462: 13460: 13457: 13455: 13452: 13451: 13450: 13447: 13445: 13444:Afsharid Iran 13442: 13440: 13437: 13435: 13432: 13430: 13427: 13425: 13422: 13420: 13417: 13415: 13412: 13410: 13407: 13405: 13402: 13400: 13397: 13395: 13392: 13390: 13387: 13385: 13382: 13381: 13379: 13375: 13369: 13366: 13364: 13361: 13359: 13356: 13354: 13353:Roman Armenia 13351: 13349: 13346: 13342: 13339: 13338: 13337: 13334: 13332: 13329: 13327: 13324: 13322: 13319: 13317: 13314: 13312: 13309: 13307: 13304: 13302: 13299: 13297: 13294: 13292: 13289: 13287: 13284: 13282: 13279: 13277: 13274: 13272: 13269: 13267: 13264: 13262: 13259: 13258: 13256: 13252: 13249: 13245: 13238: 13234: 13230: 13226: 13219: 13214: 13212: 13207: 13205: 13200: 13199: 13196: 13184: 13180: 13176: 13174: 13166: 13165: 13162: 13156: 13153: 13151: 13148: 13146: 13143: 13141: 13138: 13136: 13133: 13132: 13130: 13125: 13121: 13115: 13112: 13110: 13109:South Ossetia 13107: 13105: 13102: 13100: 13097: 13095: 13092: 13091: 13089: 13087: 13081: 13075: 13072: 13070: 13067: 13065: 13062: 13060: 13057: 13055: 13052: 13050: 13047: 13045: 13042: 13040: 13037: 13035: 13032: 13030: 13027: 13025: 13022: 13020: 13017: 13015: 13012: 13010: 13007: 13005: 13002: 13000: 12997: 12995: 12992: 12990: 12987: 12985: 12982: 12980: 12977: 12975: 12972: 12970: 12967: 12965: 12962: 12960: 12957: 12955: 12952: 12950: 12947: 12945: 12942: 12940: 12937: 12935: 12932: 12930: 12927: 12925: 12922: 12920: 12917: 12915: 12912: 12910: 12907: 12905: 12902: 12900: 12897: 12895: 12892: 12890: 12887: 12885: 12882: 12880: 12877: 12875: 12872: 12870: 12867: 12865: 12862: 12860: 12857: 12855: 12852: 12850: 12847: 12845: 12842: 12840: 12837: 12835: 12832: 12831: 12829: 12827: 12823: 12819: 12812: 12807: 12805: 12800: 12798: 12793: 12792: 12789: 12777: 12774: 12773: 12771: 12767: 12761: 12758: 12756: 12753: 12751: 12748: 12746: 12743: 12741: 12738: 12736: 12735:Faroe Islands 12733: 12731: 12728: 12727: 12725: 12719: 12713: 12710: 12708: 12707:South Ossetia 12705: 12703: 12700: 12698: 12695: 12693: 12690: 12689: 12687: 12681: 12675: 12672: 12670: 12667: 12665: 12662: 12660: 12657: 12655: 12652: 12650: 12647: 12645: 12642: 12640: 12637: 12635: 12632: 12630: 12627: 12625: 12622: 12620: 12617: 12615: 12612: 12610: 12607: 12605: 12602: 12600: 12597: 12595: 12592: 12590: 12587: 12585: 12582: 12580: 12577: 12575: 12572: 12570: 12567: 12565: 12562: 12560: 12557: 12555: 12554:Liechtenstein 12552: 12550: 12547: 12545: 12542: 12540: 12537: 12535: 12533: 12530: 12528: 12525: 12523: 12520: 12518: 12515: 12513: 12510: 12508: 12505: 12503: 12500: 12498: 12495: 12493: 12490: 12488: 12485: 12483: 12480: 12478: 12475: 12473: 12470: 12468: 12465: 12463: 12460: 12458: 12455: 12453: 12450: 12448: 12445: 12443: 12440: 12438: 12435: 12433: 12430: 12428: 12425: 12424: 12422: 12418: 12414: 12407: 12402: 12400: 12395: 12393: 12388: 12387: 12384: 12374: 12373: 12372: 12367: 12357: 12353: 12350: 12347: 12346: 12343: 12333: 12330: 12328: 12325: 12323: 12320: 12318: 12315: 12313: 12310: 12308: 12305: 12303: 12300: 12298: 12295: 12293: 12290: 12288: 12285: 12283: 12280: 12278: 12275: 12273: 12270: 12268: 12265: 12263: 12260: 12258: 12255: 12253: 12250: 12248: 12245: 12243: 12240: 12238: 12235: 12233: 12230: 12228: 12225: 12223: 12220: 12218: 12215: 12213: 12210: 12208: 12205: 12203: 12200: 12199: 12197: 12195: 12191: 12185: 12182: 12180: 12177: 12175: 12172: 12170: 12167: 12165: 12162: 12160: 12157: 12155: 12154:United States 12152: 12150: 12147: 12145: 12142: 12140: 12137: 12135: 12132: 12130: 12127: 12125: 12122: 12120: 12117: 12115: 12112: 12110: 12107: 12105: 12102: 12100: 12097: 12095: 12092: 12090: 12087: 12085: 12082: 12080: 12077: 12075: 12072: 12070: 12067: 12065: 12062: 12060: 12057: 12055: 12052: 12050: 12047: 12045: 12042: 12040: 12037: 12035: 12032: 12030: 12027: 12025: 12022: 12020: 12017: 12015: 12012: 12010: 12007: 12005: 12002: 12000: 11997: 11995: 11992: 11990: 11987: 11985: 11982: 11980: 11977: 11975: 11972: 11970: 11967: 11965: 11962: 11960: 11957: 11955: 11952: 11950: 11947: 11945: 11942: 11940: 11937: 11935: 11932: 11930: 11927: 11925: 11922: 11920: 11917: 11915: 11912: 11910: 11907: 11905: 11902: 11900: 11897: 11895: 11892: 11890: 11887: 11885: 11882: 11880: 11877: 11875: 11872: 11870: 11867: 11865: 11862: 11860: 11857: 11855: 11854:Liechtenstein 11852: 11850: 11847: 11845: 11842: 11840: 11837: 11835: 11832: 11830: 11827: 11825: 11822: 11820: 11817: 11815: 11812: 11810: 11807: 11805: 11802: 11800: 11797: 11795: 11792: 11790: 11787: 11785: 11782: 11780: 11777: 11775: 11772: 11770: 11767: 11765: 11762: 11760: 11757: 11755: 11754:Guinea-Bissau 11752: 11750: 11747: 11745: 11742: 11740: 11737: 11735: 11732: 11730: 11727: 11725: 11722: 11720: 11717: 11715: 11712: 11710: 11707: 11705: 11702: 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10552: 10550: 10548: 10539: 10533: 10525: 10521: 10515: 10509: 10505: 10501: 10497: 10491: 10489: 10480: 10476: 10470: 10464:, May 7, 2003 10463: 10459: 10455: 10452: 10447: 10445: 10443: 10441: 10433: 10429: 10425: 10422: 10416: 10414: 10412: 10410: 10402: 10398: 10394: 10391: 10386: 10384: 10376: 10375: 10369: 10362: 10358: 10355: 10354: 10348: 10341: 10337: 10334: 10333: 10327: 10320: 10316: 10313: 10312: 10306: 10299: 10298: 10292: 10285: 10284: 10278: 10271: 10267: 10266: 10260: 10253: 10249: 10246: 10245: 10239: 10232: 10228: 10225: 10224: 10218: 10211: 10210: 10204: 10197: 10193: 10190: 10189: 10183: 10176: 10175: 10169: 10162: 10161: 10155: 10148: 10144: 10140: 10137: 10136: 10130: 10123: 10119: 10116: 10115: 10109: 10093: 10089: 10088:www.state.gov 10085: 10080: 10079:public domain 10069: 10067: 10065: 10063: 10055: 10051: 10048: 10047: 10041: 10039: 10037: 10020: 10016: 10012: 10006: 9990: 9986: 9982: 9976: 9960: 9956: 9952: 9946: 9944: 9928: 9924: 9918: 9902: 9898: 9894: 9888: 9881: 9877: 9874: 9869: 9850: 9843: 9837: 9835: 9818: 9814: 9810: 9804: 9785: 9778: 9772: 9753: 9746: 9740: 9724: 9720: 9716: 9710: 9691: 9684: 9678: 9676: 9659: 9655: 9651: 9645: 9629: 9625: 9621: 9615: 9604: 9597: 9591: 9589: 9587: 9585: 9583: 9566: 9562: 9558: 9551: 9549: 9532: 9528: 9524: 9518: 9502: 9498: 9492: 9485: 9481: 9477: 9474: 9473: 9467: 9451: 9447: 9443: 9437: 9435: 9427: 9423: 9419: 9416: 9415: 9409: 9407: 9405: 9388: 9384: 9380: 9374: 9367: 9363: 9359: 9356: 9351: 9349: 9347: 9339: 9335: 9331: 9328: 9323: 9321: 9304: 9300: 9296: 9290: 9288: 9271: 9267: 9261: 9259: 9257: 9240: 9236: 9235:armenpress.am 9232: 9226: 9210: 9206: 9205: 9200: 9194: 9178: 9174: 9170: 9163: 9144: 9140: 9133: 9127: 9111: 9107: 9103: 9097: 9081: 9077: 9071: 9055: 9051: 9047: 9041: 9025: 9021: 9015: 8999: 8995: 8991: 8985: 8977: 8973: 8969: 8965: 8961: 8957: 8950: 8939: 8935: 8928: 8922: 8920: 8900: 8893: 8887: 8879: 8875: 8869: 8850: 8846: 8839: 8833: 8831: 8814: 8810: 8804: 8788: 8784: 8780: 8774: 8758: 8754: 8750: 8744: 8737: 8733: 8729: 8726: 8721: 8719: 8702: 8698: 8694: 8688: 8686: 8669: 8665: 8661: 8655: 8639: 8635: 8629: 8613: 8609: 8605: 8599: 8583: 8579: 8575: 8569: 8550: 8543: 8542: 8534: 8518: 8514: 8510: 8504: 8497: 8493: 8489: 8486: 8481: 8479: 8477: 8469: 8465: 8461: 8458: 8453: 8451: 8449: 8432: 8428: 8424: 8418: 8402: 8398: 8394: 8388: 8372: 8368: 8364: 8358: 8342: 8338: 8332: 8316: 8312: 8308: 8302: 8286: 8282: 8278: 8272: 8256: 8252: 8248: 8242: 8226: 8222: 8218: 8212: 8196: 8192: 8186: 8170: 8166: 8162: 8156: 8140: 8136: 8130: 8128: 8126: 8109: 8105: 8101: 8094: 8092: 8075: 8071: 8067: 8061: 8045: 8041: 8035: 8027: 8015: 7999: 7995: 7991: 7987: 7985:9789284421152 7981: 7977: 7973: 7969: 7968: 7961: 7946: 7942: 7935: 7920: 7916: 7909: 7890: 7883: 7877: 7875: 7858: 7854: 7853:armenpress.am 7850: 7844: 7828: 7824: 7820: 7814: 7795: 7788: 7782: 7780: 7760: 7753: 7747: 7728: 7724: 7723:EV Consulting 7717: 7711: 7704: 7700: 7696: 7693: 7688: 7669: 7662: 7656: 7648: 7644: 7638: 7622: 7618: 7612: 7605: 7601: 7597: 7594: 7589: 7587: 7579: 7575: 7570: 7568: 7566: 7546: 7539: 7533: 7531: 7529: 7512: 7508: 7504: 7498: 7479: 7472: 7466: 7464: 7462: 7442: 7435: 7429: 7413: 7409: 7405: 7399: 7383: 7379: 7375: 7369: 7353: 7349: 7345: 7339: 7332: 7328: 7323: 7312: 7308: 7302: 7295: 7294: 7287: 7285: 7283: 7281: 7279: 7277: 7275: 7273: 7271: 7269: 7267: 7265: 7263: 7261: 7259: 7257: 7255: 7253: 7251: 7249: 7247: 7230: 7226: 7222: 7216: 7201: 7197: 7191: 7175: 7170: 7166: 7162: 7156: 7154: 7146: 7139: 7133: 7117: 7113: 7109: 7103: 7087: 7083: 7079: 7073: 7057: 7053: 7049: 7043: 7027: 7023: 7019: 7013: 6997: 6993: 6987: 6971: 6967: 6961: 6945: 6941: 6937: 6931: 6929: 6912: 6908: 6902: 6886: 6882: 6878: 6872: 6856: 6852: 6848: 6842: 6826: 6822: 6816: 6814: 6797: 6793: 6792:armenpress.am 6789: 6783: 6767: 6763: 6759: 6753: 6738: 6734: 6728: 6712: 6708: 6704: 6697: 6689: 6685: 6679: 6671: 6665: 6661: 6660: 6653: 6651: 6649: 6647: 6638: 6632: 6625: 6624: 6616: 6609: 6604: 6598:, p. 50. 6597: 6592: 6590: 6588: 6580: 6575: 6569:, p. 41. 6568: 6563: 6555: 6551: 6547: 6543: 6539: 6535: 6531: 6524: 6522: 6520: 6518: 6511:, p. 43. 6510: 6505: 6498: 6493: 6477: 6472: 6467: 6463: 6459: 6452: 6446:, p. 42. 6445: 6440: 6438: 6436: 6419: 6415: 6409: 6401: 6395: 6391: 6384: 6376: 6370: 6366: 6359: 6343: 6339: 6335: 6329: 6313: 6309: 6306: 6300: 6284: 6280: 6276: 6270: 6254: 6250: 6246: 6240: 6224: 6220: 6216: 6210: 6194: 6190: 6184: 6176: 6172: 6168: 6164: 6160: 6156: 6152: 6148: 6141: 6139: 6122: 6118: 6114: 6108: 6102: 6089: 6085: 6084: 6079: 6073: 6057: 6053: 6047: 6045: 6028: 6024: 6020: 6014: 5995: 5988: 5982: 5976: 5972: 5969: 5964: 5948: 5944: 5940: 5934: 5932: 5916: 5912: 5911:"Time series" 5906: 5890: 5886: 5880: 5864: 5858: 5850: 5846: 5840: 5824: 5820: 5816: 5810: 5802: 5796: 5780: 5776: 5772: 5766: 5750: 5746: 5742: 5736: 5720: 5716: 5710: 5708: 5691: 5687: 5683: 5679: 5673: 5657: 5653: 5649: 5645: 5639: 5623: 5617: 5601: 5597: 5591: 5576: 5572: 5566: 5558: 5546: 5530: 5526: 5524:9781464815645 5520: 5516: 5512: 5511: 5504: 5488: 5484: 5480: 5476: 5470: 5464: 5451: 5447: 5446: 5441: 5435: 5433: 5431: 5429: 5427: 5425: 5423: 5421: 5419: 5417: 5408: 5402: 5386: 5382: 5376: 5374: 5372: 5370: 5368: 5366: 5364: 5362: 5360: 5358: 5356: 5354: 5352: 5350: 5348: 5346: 5344: 5327: 5323: 5319: 5313: 5297: 5293: 5289: 5283: 5279: 5269: 5266: 5264: 5261: 5259: 5256: 5254: 5251: 5249: 5246: 5244: 5241: 5239: 5236: 5234: 5231: 5230: 5226: 5220: 5215: 5212: 5206: 5201: 5194: 5192: 5187: 5184: 5180: 5170: 5166: 5162: 5160: 5155: 5146: 5137: 5135: 5130: 5127: 5125: 5121: 5116: 5110: 5108: 5104: 5100: 5095: 5091: 5086: 5083: 5073: 5070: 5068: 5061:Monthly wages 5058: 5054: 5044: 5042: 5038: 5023: 5020: 5018: 5008: 5006: 5001: 4999: 4995: 4985: 4983: 4979: 4978:South Ossetia 4974: 4970: 4965: 4963: 4959: 4955: 4949: 4928:41°13′41.97″N 4919: 4916: 4912: 4907: 4905: 4901: 4897: 4892: 4884: 4874: 4866: 4864: 4863:Yerevan Metro 4855: 4853: 4839: 4834: 4824: 4822: 4818: 4812: 4810: 4806: 4800: 4797: 4787: 4785: 4781: 4777: 4772: 4770: 4766: 4761: 4759: 4754: 4753:ArmRosGazprom 4750: 4745: 4743: 4742:RUSAL ARMENAL 4739: 4731: 4728: 4726: 4722: 4721: 4720: 4718: 4714: 4710: 4709:Ilya Klebanov 4706: 4700: 4698: 4693: 4691: 4686: 4684: 4673: 4671: 4667: 4663: 4659: 4654: 4651: 4649: 4645: 4641: 4636: 4634: 4630: 4626: 4619:leadership.). 4617: 4614: 4610: 4606: 4603: 4599: 4598: 4597: 4595: 4587: 4584: 4581: 4577: 4576: 4575: 4570: 4566: 4563: 4559: 4556: 4552: 4548: 4545: 4541: 4537: 4534: 4533: 4532: 4523: 4513: 4510: 4506: 4502: 4493: 4489: 4487: 4482: 4477: 4469: 4465: 4461: 4456: 4447: 4443: 4434: 4430: 4426: 4422: 4420: 4416: 4412: 4408: 4401:United States 4384: 4378: 4372: 4366: 4360: 4354: 4348: 4342: 4336: 4330: 4324: 4318: 4312: 4306: 4300: 4294: 4288: 4287: 4253: 4250: 4242: 4240: 4230: 4227: 4226: 4222: 4219: 4218: 4214: 4211: 4210: 4206: 4203: 4202: 4198: 4195: 4194: 4190: 4187: 4186: 4182: 4179: 4178: 4174: 4171: 4170: 4166: 4163: 4162: 4158: 4155: 4154: 4150: 4147: 4146: 4142: 4139: 4138: 4134: 4131: 4130: 4126: 4123: 4122: 4119: 4113: 4111: 4107: 4106: 4103: 4095: 4092: 4089: 4088: 4084: 4081: 4078: 4077: 4073: 4070: 4067: 4066: 4063: 4060: 4057: 4056: 4053:Share of GDP 4052: 4049: 4046: 4045: 4039: 4037: 4033: 4023: 4015: 4012: 4009: 4008: 4004: 4001: 3998: 3997: 3993: 3990: 3987: 3986: 3982: 3979: 3976: 3975: 3971: 3968: 3965: 3964: 3960: 3957: 3954: 3953: 3949: 3946: 3943: 3942: 3938: 3935: 3932: 3931: 3927: 3924: 3921: 3920: 3916: 3913: 3910: 3909: 3905: 3902: 3899: 3898: 3894: 3891: 3888: 3887: 3883: 3880: 3877: 3876: 3872: 3869: 3866: 3865: 3862: 3859: 3855: 3853: 3847: 3845: 3842: 3838: 3837: 3834: 3832: 3828: 3824: 3815: 3812: 3809: 3806: 3803: 3802: 3798: 3795: 3792: 3789: 3786: 3785: 3781: 3778: 3775: 3772: 3769: 3768: 3765: 3763: 3761: 3758: 3755: 3754: 3750: 3747: 3744: 3741: 3738: 3737: 3731: 3728: 3726: 3714: 3713:MediaWiki.org 3710: 3705: 3696: 3695: 3686: 3683: 3680: 3677: 3674: 3671: 3668: 3660: 3651: 3642: 3639: 3633:United States 3630: 3621: 3617: 3609: 3606: 3601: 3598: 3595: 3587: 3584: 3579: 3575: 3572: 3569: 3565: 3561: 3543: 3539: 3535: 3531: 3523: 3519: 3515: 3512: 3508: 3499: 3495: 3493: 3492:CIS countries 3488: 3484: 3479: 3475: 3472: 3459: 3453: 3447: 3441: 3435: 3433:Georgia: 6.9% 3429: 3423: 3421:Russia: 24.1% 3417: 3411: 3405: 3399: 3393: 3391:Germany: 5.9% 3387: 3381: 3380: 3342: 3336: 3330: 3324: 3318: 3312: 3311: 3282: 3281:MediaWiki.org 3278: 3273: 3264: 3263: 3253:Foreign trade 3245: 3241: 3239: 3229: 3220: 3211: 3201: 3195: 3185: 3181: 3177: 3173: 3171: 3160: 3150: 3148: 3144: 3139: 3129: 3126: 3119: 3115: 3110: 3100: 3096: 3094: 3090: 3085: 3081: 3079: 3073: 3067: 3063: 3059: 3050: 3046: 3043: 3022: 3021:MediaWiki.org 3018: 3013: 3004: 3003: 2996: 2988: 2984: 2980: 2977: 2974: 2971: 2968: 2964: 2961: 2951: 2945: 2935: 2932: 2930: 2925: 2922: 2920: 2916: 2912: 2911:United States 2908: 2904: 2900: 2896: 2892: 2884: 2880: 2875: 2865: 2858: 2855: 2852: 2851: 2848: 2845: 2842: 2841: 2838: 2836: 2834: 2831: 2830: 2827: 2824: 2821: 2820: 2817: 2814: 2811: 2810: 2807: 2804: 2801: 2800: 2797: 2795: 2793: 2790: 2789: 2786: 2783: 2780: 2779: 2776: 2773: 2770: 2769: 2766: 2763: 2760: 2759: 2756: 2754: 2752: 2749: 2748: 2745: 2742: 2739: 2738: 2735: 2732: 2729: 2728: 2725: 2722: 2719: 2718: 2715: 2713: 2711: 2708: 2707: 2704: 2701: 2698: 2697: 2694: 2691: 2688: 2687: 2684: 2681: 2678: 2677: 2674: 2671: 2668: 2667: 2664: 2661: 2658: 2657: 2654: 2651: 2648: 2647: 2643: 2640: 2637: 2636: 2632: 2629: 2626: 2625: 2621: 2618: 2615: 2614: 2611: 2609: 2607: 2604: 2603: 2599: 2596: 2593: 2592: 2588: 2582: 2579: 2575: 2565: 2560: 2550: 2547: 2541: 2528: 2524: 2521: 2511: 2508: 2502: 2494: 2485: 2483: 2477: 2473: 2463: 2460: 2455: 2451: 2448: 2439: 2436: 2430: 2425: 2420: 2410: 2407: 2404: 2398: 2396: 2388: 2384: 2380: 2376: 2372: 2368: 2364: 2360: 2354: 2351: 2348: 2345: 2342: 2339: 2336: 2333: 2330: 2327: 2324: 2321: 2318: 2315: 2314: 2313: 2309: 2294: 2291: 2289: 2285: 2281: 2277: 2273: 2269: 2265: 2250: 2247: 2244: 2241: 2239: 2238: 2226: 2224: 2223: 2219: 2216: 2213: 2210: 2208: 2205: 2202: 2201: 2197: 2194: 2191: 2188: 2186: 2183: 2180: 2179: 2175: 2172: 2169: 2166: 2164: 2161: 2158: 2157: 2153: 2150: 2147: 2144: 2142: 2139: 2136: 2135: 2131: 2128: 2125: 2122: 2120: 2117: 2114: 2113: 2109: 2106: 2103: 2100: 2098: 2097:Lori Province 2095: 2092: 2091: 2087: 2084: 2081: 2078: 2076: 2073: 2070: 2069: 2065: 2062: 2059: 2056: 2054: 2051: 2048: 2047: 2043: 2040: 2037: 2034: 2032: 2029: 2026: 2025: 2021: 2018: 2015: 2012: 2010: 2007: 2004: 2003: 1999: 1996: 1993: 1990: 1988: 1977: 1974: 1973: 1969: 1966: 1963: 1959: 1956: 1952: 1949: 1946: 1945: 1942: 1929: 1927: 1924: 1921: 1918: 1917: 1913: 1911: 1908: 1905: 1902: 1901: 1897: 1895: 1892: 1889: 1886: 1885: 1881: 1879: 1876: 1873: 1870: 1869: 1865: 1863: 1860: 1857: 1854: 1853: 1849: 1847: 1844: 1841: 1838: 1837: 1833: 1831: 1828: 1825: 1822: 1821: 1817: 1815: 1812: 1809: 1806: 1805: 1801: 1798: 1795: 1792: 1789: 1788: 1784: 1781: 1778: 1775: 1772: 1771: 1767: 1764: 1761: 1758: 1755: 1754: 1750: 1747: 1744: 1741: 1738: 1737: 1733: 1730: 1727: 1724: 1721: 1720: 1716: 1713: 1710: 1707: 1704: 1703: 1699: 1696: 1693: 1690: 1687: 1686: 1682: 1679: 1676: 1673: 1670: 1669: 1665: 1662: 1659: 1656: 1653: 1652: 1648: 1645: 1642: 1639: 1636: 1635: 1631: 1628: 1625: 1622: 1619: 1618: 1614: 1611: 1608: 1605: 1602: 1601: 1597: 1594: 1591: 1588: 1585: 1584: 1580: 1577: 1574: 1571: 1568: 1567: 1563: 1560: 1557: 1554: 1551: 1550: 1546: 1543: 1540: 1537: 1534: 1533: 1530: 1527: 1524: 1521: 1518: 1515: 1514: 1508: 1503: 1499: 1496: 1493: 1489: 1487: 1482: 1479: 1472: 1463: 1461: 1456: 1454: 1450: 1446: 1442: 1438: 1434: 1429: 1427: 1421: 1419: 1414: 1410: 1406: 1402: 1398: 1392: 1390: 1386: 1381: 1377: 1373: 1368: 1363: 1361: 1357: 1352: 1348: 1343: 1341: 1335: 1333: 1327: 1325: 1319: 1317: 1313: 1309: 1299: 1295: 1291: 1287: 1283: 1280: 1277: 1271: 1267: 1265: 1261: 1251: 1247: 1244: 1240: 1230: 1228: 1224: 1219: 1217: 1213: 1208: 1206: 1201: 1199: 1194: 1192: 1189:published by 1188: 1183: 1181: 1178: 1174: 1170: 1166: 1160: 1150: 1148: 1143: 1139: 1135: 1131: 1127: 1122: 1113: 1111: 1110:energy sector 1107: 1103: 1098: 1096: 1091: 1087: 1083: 1078: 1076: 1072: 1068: 1064: 1060: 1049: 1047: 1040: 1031: 1028: 1021: 1003: 1000: 998:Credit rating 993: 989: 985: 981: 977: 973: 970: 963: 954: 951: 944: 939: 930: 927: 925:external debt 919: 910: 907: 900: 888: 880: 879: 877: 873: 868: 853: 851:Ukraine 2.54% 842: 840:Georgia 4.13% 831: 820: 809: 798: 787: 776: 775: 773: 767: 763: 757: 748: 744: 729: 718: 707: 696: 685: 674: 663: 652: 651: 649: 643: 639: 633: 624: 620: 615: 611: 607: 603: 597: 593: 590: 587: 580: 576: 573: 567: 555: 547: 546: 544: 540: 533: 530: 527: 524: 521: 518: 515: 514: 512: 506: 494: 486: 485: 483: 477: 473: 464: 461: 456: 449: 436: 433: 420: 419: 417: 414: 409: 396: 393: 386: 374: 366: 365: 363: 359: 352: 345: 342: 339: 338: 336: 332: 328: 323: 316: 313: 310: 307: 304: 301: 298: 295: 294: 292: 289:GDP by sector 286: 279: 276: 273: 270: 269: 267: 261: 249: 241: 240: 238: 232: 220: 212: 204: 203: 201: 195: 188: 185: 182: 179: 178: 176: 172: 165: 156: 148: 147: 145: 143: 139: 130: 126: 121: 114: 112: 109: 108: 106: 103:Country group 100: 97: 93: 89: 85: 82: 76: 73:Calendar year 72: 69: 64: 60: 59:Armenian dram 57: 53: 48: 43: 38: 34: 27: 19: 14106:Mount Ararat 14096:Coat of arms 14067: 14017: 13963:Demographics 13950: 13884:Architecture 13790:Central Bank 13767: 13751: 13744: 13688:Human rights 13663:Constitution 13629: 13625:Shirak Plain 13565:Ararat Plain 13527: 13439:Safavid Iran 13424:Kara Koyunlu 13124:Dependencies 13054:Turkmenistan 13019:Saudi Arabia 12838: 12712:Transnistria 12674:Vatican City 12436: 12362: 12361: 12069:South Africa 12054:Sierra Leone 12039:Saudi Arabia 11594:Burkina Faso 11538: 11367:Bali Package 11296:Peace Clause 11140: 11110:. 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Yerevan: 5895:25 November 5455:17 February 5043:countries. 4958:Bagratashen 4954:Debed river 4943: / 4765:Gazprombank 4536:Natural gas 4411:foreign aid 4396:Foreign aid 4212:Luxembourg 4034:countries, 3988:Luxembourg 3709:Phabricator 3439:China: 5.5% 3277:Phabricator 3017:Phabricator 2983:threshold. 2853:Net assets 2616:Net profit 1922:9,502,778.6 1906:8,501,435.5 1890:6,991,777.8 1793:5,032,089.0 1776:4,828,626.3 1759:4,555,638.2 1742:4,000,722.0 1725:3,776,443.0 1708:3,460,202.7 1691:3,141,651.0 1674:3,568,227.6 1657:3,149,283.4 1640:2,656,189.8 1623:2,242,880.9 1606:1,907,945.4 1589:1,624,642.7 1572:1,362,471.7 1555:1,175,876.8 1538:1,031,338.3 1387:, suffered 807:China 12.3% 694:China 6.58% 534:(2013 est.) 517:agriculture 346:8.6% (2022) 297:agriculture 68:Fiscal year 30:Economy of 14176:Categories 13931:Literature 13683:Government 13668:Corruption 13595:Lake Sevan 13449:Qajar Iran 13419:Aq Qoyunlu 13064:Uzbekistan 13039:Tajikistan 12954:Kyrgyzstan 12934:Kazakhstan 12854:Bangladesh 12844:Azerbaijan 12624:San Marino 12584:Montenegro 12564:Luxembourg 12544:Kazakhstan 12447:Azerbaijan 12287:Luxembourg 12089:Tajikistan 12049:Seychelles 11924:Mozambique 11914:Montenegro 11889:Mauritania 11864:Madagascar 11834:Kyrgyzstan 11814:Kazakhstan 11724:The Gambia 11664:Costa Rica 11624:Cape Verde 11554:Bangladesh 11427:9th (2013) 11422:8th (2011) 11417:7th (2009) 11412:6th (2005) 11407:5th (2003) 11402:4th (2001) 11397:3rd (1999) 11392:2nd (1998) 11387:1st (1996) 11305:Agreements 11152:0844408484 11102:www.mnp.am 11082:9 November 10935:18 October 10876:9 November 10691:9 November 10652:9 November 10462:Eurasianet 9823:5 November 9761:9 November 9729:3 December 9699:9 November 9309:8 February 9173:finport.am 9086:8 February 8934:www.aea.am 8908:9 November 8819:18 October 8707:29 October 8697:finport.am 8588:29 October 8578:Moodys.com 8377:5 November 8347:18 October 8201:9 November 8175:5 November 8050:9 November 8004:9 November 7898:9 November 7803:9 November 7768:9 November 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1991:3,032.454 1960:GDP (bil. 1953:GDP (bil. 1522:GDP Growth 1460:privatized 1405:World Bank 1376:Azerbaijan 1351:World Bank 1157:See also: 1046:US dollars 818:Iran 6.59% 672:Russia 22% 448:IHDI, 51st 198:GDP growth 128:Population 123:Statistics 13981:Education 13845:Transport 13730:President 13700:Judiciary 13673:Elections 13600:Mountains 13553:Geography 13414:Chobanids 13409:Ilkhanate 13404:Sallarids 13150:Hong Kong 13104:Palestine 13029:Sri Lanka 13024:Singapore 12904:Indonesia 12740:Gibraltar 12559:Lithuania 12282:Lithuania 12164:Venezuela 12074:Sri Lanka 12059:Singapore 12024:St. Lucia 11944:Nicaragua 11894:Mauritius 11789:Indonesia 11774:Hong Kong 11744:Guatemala 11544:Australia 11534:Argentina 11276:Criticism 10268:(quoting 8976:158406216 8437:15 August 8024:ignored ( 8014:cite book 7994:240665765 7221:"FAOSTAT" 6717:7 October 6554:1074-6846 6175:152939493 6167:1556-5068 6078:"Armenia" 5555:ignored ( 5545:cite book 5440:"Armenia" 5132:See also 4904:Black Sea 4633:oligopoly 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1433:Metsamor 1397:Armentel 1243:genocide 1147:2020 war 1134:Armenian 1116:Overview 1073:and the 987:Expenses 979:Revenues 617:External 604:brandy, 529:services 523:industry 446:(2022) ( 430:(2022) ( 309:services 303:industry 174:GDP rank 55:Currency 14145:Outline 14116:Apricot 14079:Symbols 14069:more... 14058:Judaism 14019:more... 13952:more... 13946:Theatre 13924:Western 13919:Eastern 13899:Cuisine 13867:Culture 13830:Tourism 13768:Economy 13631:more... 13580:Climate 13529:more... 13311:Diauehi 13291:Mitanni 13261:Origins 13237:History 13225:Armenia 13069:Vietnam 12984:Myanmar 12964:Lebanon 12894:Georgia 12849:Bahrain 12839:Armenia 12664:Ukraine 12614:Romania 12574:Moldova 12532:Ireland 12527:Iceland 12522:Hungary 12512:Germany 12507:Georgia 12497:Finland 12492:Estonia 12487:Denmark 12472:Croatia 12457:Belgium 12452:Belarus 12442:Austria 12437:Armenia 12432:Andorra 12427:Albania 12312:Romania 12267:Ireland 12262:Hungary 12252:Germany 12242:Finland 12237:Estonia 12232:Denmark 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