Armenia

Quick Facts

🇦🇲
Capital:
Yerevan
Official Language(s):
Armenian
Currency:
Armenian dram (֏)
Population:
2,963,234

Overview

Armenia, officially the Republic of Armenia, is a landlocked country in the Armenian Highlands of West Asia. It is a part of the Caucasus region and is bordered by Turkey to the west, Georgia to the north and Azerbaijan to the east, and Iran and the Azerbaijani exclave of Nakhchivan to the south. Yerevan is the capital, largest city and financial center.

Institutional Framework

The strength of a country's institutions directly impacts its economic development and stability. Strong institutions reduce uncertainty, protect property rights, and enable efficient markets through:
  • Rule of law and contract enforcement
  • Control of corruption
  • Government effectiveness and regulatory quality

* Indicators normalized to 0-100 scale

Economic Structure

The composition of an economy reveals its strengths, vulnerabilities, and potential for growth. Understanding the balance between sectors (agriculture, industry, services) and their sophistication helps assess economic resilience and development opportunities.

Economic Health & Trade

Economic Scale & Power

An economy with $13,878,908,628.938B(2021) GDP, showing strong growth at 5.8%(2021). Emerging economy with development potential.

GDP Growth
5.8%(2021)
GDP PPP
$47,164,867,556.762

Economic Structure

Economic structure shows 53.1%(2021) in services, 26.4%(2021) in industry, and 11.3%(2021) in agriculture. Balanced economic structure.

Economic Health & Trade

Economic health indicators show 15.5%(2021) unemployment and 7.2%(2021) inflation. Trade profile with 35.9%(2021) exports and 43.8%(2021) imports as % of GDP.

Unemployment
15.5%(2021)
Inflation
7.2%(2021)
Exports/GDP
35.9%(2021)
Imports/GDP
43.8%(2021)

Innovation & Competitiveness

Innovation capacity determines a country's ability to compete in the global knowledge economy. Key indicators like R&D investment, patent applications, and high-tech exports reveal the potential for sustainable economic growth and value creation.

High-Tech Exports

6.0

% of manufactured exports

ICT Exports

0.5

% of total goods exports

Digital Adoption

78.6

% of population using internet

Mobile Connectivity

129.0

Subscriptions per 100 people

Manufacturing Value

11.0

% of GDP

International Position

A country's integration into global markets affects its economic opportunities and risks. Trade relationships, financial flows, and geographic advantages or constraints shape its development trajectory and resilience to external shocks.

Financial & Trade Geography

Trade Profile

Trade represents 79.67%(2021) of GDP, with a trade balance of -7.86%(2021).

FDI Inflows
2.64%(2021)
FDI Outflows
0.18%(2021)

Financial Security

External Debt

104.21%(2021)

Foreign Reserves

$3.23B(2021)(5.5 months of imports)

Supply Chain & Technology

Technology Trade

ICT Imports
5.08%(2021)
High-Tech Exports
5.96%(2021)

Economic Structure

Manufacturing
11.03%(2021)
Services
53.08%(2021)

Trade Agreements & Dependencies

Trade Agreements

No major trade agreements

Critical Dependencies

    Growth Trajectory

    Understanding growth patterns helps predict future economic performance and development challenges. Key factors include productivity trends, investment levels, and structural transformation progress, which together determine long-term prosperity potential.

    Growth Potential Indicators

    Human Capital

    Education and workforce development

    47.1/100

    Trade Position

    International trade and competitiveness

    18.3/100

    Economic Structure

    Sectoral balance and sophistication

    32.5/100

    Demographics & Human Capital

    Demographics are fundamental to understanding a country's economic potential and challenges. The population structure influences everything from labor force availability to social security systems and public spending priorities.

    Demographics

    Population Overview

    Total population of 2,962,300(2021) with 0.0%(2021) annual growth. Median age is N/A with fertility rate at 1.575 births/woman(2021).

    Life Expectancy
    72.043 years(2021)
    Birth Rate
    12.049 per 1,000(2021)

    Age Structure

    Working-age population (67.4%(2021)) with youth at 20.0%(2021) and elderly at 12.6%(2021). Total dependency ratio: 48.5%(2021).

    Young Dependency
    29.8%(2021)
    Old Dependency
    18.7%(2021)

    Gender & Migration

    Population is 53.7%(2021) female and 46.3%(2021) male, with sex ratio of 1.095 males/female(2021) at birth. Net migration: -19,457(2021).

    Male Mortality
    260.344/1,000(2021)
    Female Mortality
    84.064/1,000(2021)

    Development Indicators

    Urban population growing at 0.2%(2021) annually, with 36.6%(2021) in rural areas. Literacy rate: N/A.

    Urbanization
    63.4%(2021)
    Infant Mortality
    9.6 per 1,000(2021)

    Population Structure

    The population pyramid visualizes the age and gender distribution, revealing crucial insights about economic sustainability. A balanced pyramid with a strong working-age population (typically ages 15-64) indicates greater economic potential, as this group supports both the younger and older generations through:
    • Labor force participation and productivity
    • Tax contributions to support social services
    • Innovation and economic growth

    An aging population (top-heavy pyramid) or youth bulge (bottom-heavy) can create demographic pressures on social systems and economic stability.

    Source: World Bank Development Indicators

    Security Context

    Security considerations fundamentally affect economic development and investment attractiveness. Both geographic factors and military capabilities influence a country's stability and its ability to protect economic interests and maintain sustainable growth.

    Geographic & Resource Security

    Food & Agriculture

    Arable land comprises 15.6%(2021) of territory, with 58.8%(2021) total agricultural land. Cereal yield: 1,287.2 kg/hectare(2021).

    Food Production Index
    84.82(2021)
    Cereal Production
    149,802 MT(2021)

    Energy Security

    Net energy imports at N/A of consumption. Renewable energy makes up 100.0%(2021) of total. Electricity access: N/A.

    Resource Rents
    N/A

    Water Resources

    Fresh water resources of 562 m³/capita(2021) per person. Annual precipitation: 11.53 mm(2021).

    Forest Area
    4.5%(2021)

    Environmental Vulnerability

    2315.4%(2021) of population affected by climate disasters. Forest coverage at 4.5%(2021) providing natural buffer.

    Annual Rainfall
    11.53 mm(2021)

    Military & Security

    Military Capabilities

    Military expenditure at N/A of GDP. Armed forces personnel: 32,000,000(2021) ( N/A of labor force).

    Arms Exports
    34,728 USD(2021)
    Arms Imports
    10 USD(2021)

    Strategic Status

    Military Alliances

    No major military alliances

    Nuclear Status

    Non-Nuclear State

    Security Environment

    Recorded 800(2021) battle-related deaths.Refugee population: 96,291(2021)Internally displaced: 108,801(2021)

    Strategic Geography

    Strategic Features

    • Landlocked country
    • Borders 4 countries