Armenia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 18.10 18 18.2 17.7 18.4 15.6 percent [+]
Inflation Rate -0.20 -0.4 2 4.7 3.6 4.4 percent [+]
Interest Rate 6.00 6 5.75 5.75 5.75 6 percent [+]
Balance of Trade -115.20 -116 -129 -129 -128 -128 USD Million [+]
Government Debt to GDP 42.23 45 45 45 45 31 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 483.32 491 496 501 511 583 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate -1.00 5.7 3.4 3.2 3.9 4.3 percent [+]
GDP 10.53 12.8 12.8 12.8 12.8 13.8 USD Billion [+]
GDP Constant Prices 1514706.80 1339912 1321550 1319622 1319419 1319395 AMD Million [+]
Gross Fixed Capital Formation 250157.70 114769 169352 240568 450360 447219 AMD Million [+]
GDP per capita 3796.50 3817 3846 3874 3903 4348 USD [+]
GDP per capita PPP 7907.00 7949 8009 8069 8128 9056 USD [+]
GDP From Agriculture 263839.10 218379 215567 215393 215383 215382 AMD Million [+]
GDP From Construction 152661.90 49853 106470 118136 152523 151694 AMD Million [+]
GDP From Manufacturing 135858.20 129159 135764 129253 135672 135171 AMD Million [+]
GDP From Mining 39377.50 32264 33013 28547 35064 34416 AMD Million [+]
GDP From Public Administration 74164.50 59730 68753 69109 77997 94475 AMD Million [+]
GDP From Services 19591.40 10985 14336 22410 20071 19660 AMD Million [+]
GDP From Transport 36693.40 25794 27412 36189 35977 32527 AMD Million [+]
GDP From Utilities 5671.60 4467 5258 6155 5571 5316 AMD Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 18.10 18 18.2 17.7 18.4 15.6 percent [+]
Unemployed Persons 80.60 80.67 80.67 80.7 80.7 80.7 Thousand [+]
Labor Force Participation Rate 63.20 59.32 60.57 62.82 61.95 62.2 percent [+]
Wages 194779.00 186578 189308 192837 195273 197994 AMD/Year [+]
Minimum Wages 55000.00 55067 65000 65000 65000 75000 AMD/Year [+]
Population 3.00 3 3 3 3 2.99 Million [+]
Retirement Age Women 63.00 63 63 63 63 63 [+]
Retirement Age Men 63.00 63 63 63 63 63 [+]
Employed Persons 484.00 804 765 773 772 772 Thousand [+]
Wages In Manufacturing 193951.00 184319 178797 182854 186798 183927 AMD/Monthly [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate -0.20 -0.4 2 4.7 3.6 4.4 percent [+]
Consumer Price Index CPI 125.13 124 124 124 124 124 Index Points [+]
Core Consumer Prices 99.96 99.99 100 100 100 100 Index Points [+]
Core Inflation Rate -1.00 -0.84 -0.65 -0.55 -0.55 -0.63 percent [+]
Producer Prices 100.80 101 101 101 101 101 Index Points [+]
Producer Prices Change 4.40 4.33 3.69 3.53 3.47 3.43 percent [+]
Inflation Rate Mom -0.90 -0.05 0.13 0.14 0.14 0.14 percent [+]
Food Inflation 3.70 1.83 1.42 1.59 1.71 1.69 percent [+]
Export Prices 102.20 99.52 100 100 100 100 Index Points [+]
Import Prices 104.60 101 100 101 100 100 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 6.00 6 5.75 5.75 5.75 6 percent [+]
Money Supply M0 890168.00 888970 893436 881587 888521 886346 AMD Million [+]
Money Supply M1 611962.00 626882 637559 642182 644537 646401 AMD Million [+]
Money Supply M2 1064154.00 1100720 1129869 1142838 1148617 1153267 AMD Million [+]
Deposit Interest Rate 14.10 12.61 14.41 16.2 18 23.56 percent [+]
Foreign Exchange Reserves 2026.16 2093 2087 2087 2088 2088 USD Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -115.20 -116 -129 -129 -128 -128 USD Million [+]
Exports 152.20 150 150 149 149 149 USD Million [+]
Imports 267.40 268 281 279 279 279 USD Million [+]
Current Account 52.40 -88.75 -26.06 21.75 -48.36 -36.96 USD Million [+]
Current Account to GDP -2.70 -3.6 -3.6 -1.39 -3.6 -6.1 percent [+]
External Debt 9238.91 9457 9529 9613 9695 10494 USD Million [+]
Capital Flows -38.10 -163 -88.73 -66.25 -131 -115 USD Million [+]
Gold Reserves 1.40 1.4 1.4 1.4 1.4 1.4 Tonnes [+]
Remittances 374.80 226 325 378 447 420 USD Million [+]
Foreign Direct Investment 50.55 34.03 38.4 43.9 27.49 34.83 USD Million [+]
Terms Of Trade 97.70 99.8 99.91 100 100 100 Index Points [+]
Terrorism Index 0.29 0.71 0.68 0.65 0.62 0.46 [+]
Tourist Arrivals 37908.00 31957 43092 59258 39042 41335 Thousand [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 42.23 45 45 45 45 31 percent [+]
Government Budget -4.80 -4.1 -4.1 -3.92 -4.1 -1.9 percent of GDP [+]
Government Budget Value -132204.50 -38585 -58925 -63407 -120429 -97194 AMD Billion [+]
Government Revenues 320641.40 265235 303946 303628 316624 308849 AMD Billion [+]
Government Debt 2872.20 2945 3028 3098 3168 3910 AMD Billion [+]
Fiscal Expenditure 452845.90 307944 371514 381333 457975 469052 AMD Million [+]
Military Expenditure 493.00 495 501 507 508 531 USD Million [+]
Government Spending 177913.50 156296 195295 189367 212103 239253 AMD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Industrial Production 19.90 1.42 6.41 7.15 7.11 7.07 percent [+]
Industrial Production Mom -23.90 5.47 0.69 0.6 0.79 1.02 percent [+]
Manufacturing Production 19.40 13.16 12.98 14.28 13.43 13.66 percent [+]
Leading Economic Index 6.00 -2.2 1.9 2.8 3.7 3.9 percent [+]
Mining Production -7.80 -7.33 -7.5 -7.49 -7.49 -7.49 percent [+]
Corruption Index 33.00 32 32 32 32 35 Points [+]
Corruption Rank 113.00 95.82 96.22 96.16 96.1 87.76 [+]
Ease of Doing Business 38.00 42.26 43.03 43.8 44.57 41.48 [+]
Changes In Inventories 21375.00 9692 8321 6323 7467 7045 AMD Million [+]
Competitiveness Index 4.07 4.06 4.06 4.06 4.06 4.12 Points [+]
Competitiveness Rank 79.00 86.12 86.12 84.43 83.87 91.54 [+]
Business Confidence 51.00 51.61 51.91 52.28 52.54 52.45 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence 42.60 42.3 42.25 42.26 42.32 42.31 [+]
Retail Sales YoY 9.40 -0.3 -0.3 9.16 3.5 5.2 percent [+]
Consumer Spending 1113101.50 995424 993123 992778 992726 992717 AMD Million [+]
Consumer Credit 433856.85 435877 437609 438843 439662 441187 AMD Million [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Construction Output -19.60 -4.3 -2.7 0.9 1.3 2.5 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 20.00 20 20 20 20 20 percent [+]
Personal Income Tax Rate 36.00 36 36 36 36 36 percent [+]
Sales Tax Rate 20.00 20 20 20 20 20 percent [+]
Social Security Rate 23.00 23 23 23 23 23 percent [+]
Social Security Rate For Companies 15.00 15 15 15 15 15 percent [+]
Social Security Rate For Employees 8.00 8 8 8 8 8 percent [+]





Economic Forecasts for Armenia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Armenia economy. 3/30/2017