Armenia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 18.10 18 18.2 16.4 17.6 15.6 percent [+]
Inflation Rate -1.10 -0.4 1.5 2.5 2.9 4.4 percent [+]
Interest Rate 6.25 6 5.75 5.5 5.5 6 percent [+]
Balance of Trade -173.30 -145 -145 -146 -146 -146 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 485.42 493 498 502 507 580 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate -2.60 1.9 2.4 3.2 2.8 4.3 percent [+]
GDP 10.53 12.8 12.8 12.8 12.8 13.8 USD Billion [+]
GDP Constant Prices 1518338.50 1230000 1570000 1660000 1070000 2240000 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 387568.20 122000 462000 336000 53100 351000 AMD Million [+]
GDP From Construction 118835.00 47574 104811 116908 172440 173716 AMD Million [+]
GDP From Manufacturing 135621.40 119046 118944 118952 118951 118951 AMD Million [+]
GDP From Mining 29061.20 32639 31319 29630 30424 30827 AMD Million [+]
GDP From Public Administration 61270.00 64347 65484 71139 72869 95145 AMD Million [+]
GDP From Services 24094.50 9307 15617 22677 16693 16695 AMD Million [+]
GDP From Transport 39114.40 29781 20559 24343 23214 12530 AMD Million [+]
GDP From Utilities 6131.30 4656 5368 6273 5896 5660 AMD Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 18.10 18 18.2 16.4 17.6 15.6 percent [+]
Unemployed Persons 80.86 82.39 82.74 82.89 82.95 82.99 Thousand [+]
Labor Force Participation Rate 63.20 59.32 60.57 62.82 61.95 62.2 percent [+]
Wages 190246.00 185863 188609 192051 193785 195526 AMD/Year [+]
Minimum Wages 55000.00 55067 65000 65000 65000 75000 AMD/Year [+]
Population 2.99 3.01 3.01 3 2.99 3.09 Million [+]
Retirement Age Women 63.00 63 63 63 63 63 [+]
Retirement Age Men 63.00 63 63 63 63 63 [+]
Employed Persons 994.00 825 824 825 825 825 Thousand [+]
Wages In Manufacturing 184400.00 180042 176042 180044 182696 180341 AMD/Monthly [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate -1.10 -0.4 1.5 2.5 2.9 4.4 percent [+]
Consumer Price Index CPI 123.02 123 123 122 122 122 Index Points [+]
Core Consumer Prices 100.02 100 100 100 100 100 Index Points [+]
Core Inflation Rate -0.90 -0.31 -0.12 -0.15 -0.26 -0.32 percent [+]
Producer Prices 101.80 100 100 100 100 100 Index Points [+]
Producer Prices Change 6.90 7.78 7.98 8.05 8.08 8.1 percent [+]
Import Prices 104.70 101 100 100 100 100 Index Points [+]
Inflation Rate Mom 1.10 0.03 0.02 0.02 0.02 0.02 percent [+]
Food Inflation -0.30 -1.91 -1.76 -1.72 -1.75 -1.75 percent [+]
Export Prices 102.60 99.47 100 100 100 100 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 6.25 6 5.75 5.5 5.5 6 percent [+]
Money Supply M0 912776.00 940280 947078 948733 950775 951668 AMD Million [+]
Money Supply M1 559489.00 560947 560922 560932 560937 560942 AMD Million [+]
Money Supply M2 963192.00 986103 989800 991183 991703 992017 AMD Million [+]
Deposit Interest Rate 14.10 12.61 14.41 16.2 18 23.56 percent [+]
Foreign Exchange Reserves 2196.80 1771 1772 1772 1772 1772 USD Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -173.30 -145 -145 -146 -146 -146 USD Million [+]
Exports 168.00 157 158 158 158 158 USD Million [+]
Imports 341.30 298 299 300 300 300 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 98.00 99.63 100 100 100 100 Index Points [+]
Terrorism Index 0.29 0.71 0.68 0.65 0.62 0.46 [+]
Tourist Arrivals 62840.00 35121 44623 60204 44549 45665 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 -62010.30 -36138 -57710 -62832 -113285 -91295 AMD Billion [+]
Government Revenues 306503.70 259921 300050 300377 306661 299099 AMD Billion [+]
Government Debt 2652.50 2703 2708 2715 2729 2732 AMD Billion [+]
Fiscal Expenditure 368514.00 357390 356689 356844 356810 356816 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 8.80 7.26 4.43 5.99 6.37 6.58 percent [+]
Industrial Production Mom 5.70 0.51 0.73 0.9 0.96 0.99 percent [+]
Manufacturing Production 19.80 8.11 11.13 10.68 10.35 10.57 percent [+]
Leading Economic Index 2.30 -2.2 1.9 2.8 3.7 3.9 percent [+]
Mining Production -10.90 -7.17 -7.4 -7.38 -7.38 -7.38 percent [+]
Corruption Index 35.00 37.51 37.61 37.72 37.82 39.5 Points [+]
Corruption Rank 95.00 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 3.80 -0.3 -0.3 3.27 3.5 5.2 percent [+]
Consumer Spending 1113101.50 995424 993123 992778 992726 992717 AMD Million [+]
Consumer Credit 427735.06 433722 436726 438644 439895 442280 AMD Million [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Construction Output -17.50 -6.9 -4.3 -2.7 0.9 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. 1/17/2017