Armenia Economic Observatory

Understanding Armenia's Economic Transformation

A data-driven analysis of macroeconomic trends, regional positioning, and growth forecasting for the Republic of Armenia.

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Gross Domestic Product

2000–2026 annual trend with growth rate overlay

Current GDP $29.1B
Peak Growth Year 2003 (14.0%)
CAGR (2000–2026) 11.0%
Latest Growth Rate +4.6%

Macroeconomic Indicators

Key metrics across fiscal, monetary, and external accounts

Armenia in the South Caucasus

Benchmarked against Georgia, Azerbaijan, and regional peers

GDP per Capita
Growth Rate
Inflation
Armenia
GDP per Capita $8,866
Growth Rate +4.6%
Inflation 4.5%
Georgia
GDP per Capita $7,500
Growth Rate +6.0%
Inflation 2.8%
Azerbaijan
GDP per Capita $8,200
Growth Rate +2.8%
Inflation 4.8%

Economic Correlations

Statistical relationships between macroeconomic variables, 2000–2026

Pearson Correlation r = 0.53
GDP Growth vs. FDI Inflow — Armenia 2000–2026

Economic Health Score

Composite index across six macroeconomic dimensions

64 /100

Overall Score

Economic Outlook 2027–2029

GDP projections under three macroeconomic scenarios

Base Case
$34.2B +4.5% avg. growth

Optimistic
$40.0B +7.5% avg. growth

Pessimistic
$28.0B +0.5% avg. growth