Armenia GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Armenia expanded 3.10 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Armenia averaged 8.10 Percent from 1998 until 2014, 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. GDP Annual Growth Rate in Armenia is reported by the National Statistical Service of the Republic of Armenia.
||1998 - 2014
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.