Armenia GDP Annual Growth Rate  1998-2016 | Data | Chart | Calendar

The Armenian economy shrank 2.6 percent year-on-year in the second quarter of 2016, following an upwardly revised 1.6 percent expansion in the previous period. It was the first contraction since the third quarter of 2010, mainly driven by drop in agriculture (-6 percent vs -1.3 percent in Q2); construction (-8.5 percent vs -5.8 percent); public administration (-7.5 percent vs +8.9 percent); electricity, gas, steam and air conditioning supply (-0.3 percent vs +2.8 percent); and education (-7.5 percent vs -0.1 percent). Also, manufacturing rose at a slower 4.3 percent (+5.6 percent in Q2). In contrast, retail and wholesale trade increased 1.8 percent (-5.5 percent in Q2) and real estate activities went up 9.5 percent (-5.7 percent in Q2). GDP Annual Growth Rate in Armenia averaged 7.38 percent from 1998 until 2016, reaching an all time high of 19.10 percent in the second quarter of 2006 and a record low of -19.70 percent in the third quarter of 2009.

Armenia GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-31 09:00 AM Q1 4.4% 1.1% 2.3%
2016-08-31 09:00 AM Q2 1.5% 4.5% 4.1%
2016-11-30 08:25 AM Q3 -2.6% 1.6% 0.7%
2017-02-28 04:30 PM Q4 2.08%
2017-05-31 09:00 AM Q1 -0.29%
2017-08-31 09:00 AM Q2 0.90%




Armenia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -2.60 1.60 19.10 -19.70 percent [+]
GDP 10.56 11.64 11.66 1.20 USD Billion [+]
GDP Constant Prices 1518338.50 1127723.30 1539593.90 8413.00 AMD Million [+]
Gross Fixed Capital Formation 174996.70 109870.10 453361.70 95230.00 AMD Million [+]
GDP per capita 3792.85 3696.54 3792.85 884.30 USD [+]
GDP per capita PPP 7899.30 7698.70 7899.30 1841.70 USD [+]
GDP From Agriculture 387568.20 114331.90 468383.90 50799.80 AMD Million [+]
GDP From Construction 118835.00 106474.40 196213.50 41960.80 AMD Million [+]
GDP From Manufacturing 135621.40 117942.50 137634.10 81803.40 AMD Million [+]
GDP From Mining 29061.20 26592.20 53716.10 20043.40 AMD Million [+]
GDP From Public Administration 61270.00 63294.30 63294.30 31259.30 AMD Million [+]
GDP From Services 24094.50 15919.80 24094.50 5295.50 AMD Million [+]
GDP From Transport 39114.40 28411.00 42965.70 24520.60 AMD Million [+]
GDP From Utilities 6131.30 5022.50 6480.80 2947.80 AMD Million [+]



Armenia GDP Annual Growth Rate Notes

Armenia is a landlocked country without energy resources. Construction, which receives large funding from foreign direct investment and remittances, is the most important sector of the economy. As a modernization attempt, Armenia has focused on development of small scale agriculture and small and medium enterprises to replace the old soviet agro-industrial model. Nonetheless, industry and agriculture remain outperformed by services. Recent tax reforms have failed to tackle Armenia’s shadow economy and corruption problems. This page provides - Armenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Armenia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-2.60 1.60 19.10 -19.70 1998 - 2016 percent Quarterly



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