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Armenia

AM Β· ARM Β· #138 Β· 12 cities

Nomad score 57/100 Compare

Key indicators

GDP per capita (PPP) (2031)
$37,696
GDP (2031)
$43.6B
GDP growth (2031)
5.0% β†’
Inflation (2031)
3.0% β†’
Unemployment (2031)
12.1% ↓
Population (2031)
3.0M
Population growth (2031)
-0.4% β†’
Gini index (2024)
27.4
Government debt (2031)
46.7% of GDP
Current account (2031)
-4.4% of GDP
FDI inflows (2025)
$605.1M
Life expectancy (2024)
78.3 yrs
Health spending (2023)
9.3% of GDP
Internet users (2024)
81.3%
Mobile subscriptions (2024)
134.9/100
Trade openness (2025)
101.7% of GDP
Exchange rate (2025)
387.01/USD
Foreign reserves (2025)
$5.1B
Source: World Bank + IMF World Economic Outlook. Most recent data: 2031.

GDP overview

Nominal GDP and real growth. Dashed = IMF forecast.

GDP per capita (PPP)

Purchasing power parity adjusted, in international dollars

Inflation (CPI)

Unemployment

ILO modeled estimate

Population

Fiscal and trade

Government debt (2031)
46.7% of GDP
Current account (2031)
-4.4% of GDP
FDI inflows (2025)
$605.1M

Income inequality (Gini)

Gini index (2024)
0.27
Assessment
Low inequality
Source: World Bank PIP via OWID. 0 = perfect equality, 1 = maximum inequality.

Business environment

New business density (2024)
4.12/1k
Tax revenue (2024)
22.4% of GDP
Services sector (2025)
61.3% of GDP

Financial access and costs

ATMs per 100k (2024)
71.5
Bank branches per 100k (2024)
22.7
ICT service exports (2025)
24.5%
Goods and services tax (2024)
13.9%

Historical data

Historical economic data
Year GDP GDP/cap PPP Growth Inflation Unemp. Population Gini Debt Curr. acct FDI Life exp. Health Internet FX rate
2031 * $43.6B $37,696 5.0% 3.0% 12.1% 3.0M - 46.7% -4.4% - - - - -
2030 * $40.7B $34,464 5.0% 3.0% 12.3% 3.0M - 48.8% -4.5% - - - - -
2029 * $37.9B $32,134 5.0% 3.0% 12.4% 3.0M - 50.4% -4.6% - - - - -
2028 * $35.4B $30,007 5.0% 3.3% 12.5% 3.0M - 51.4% -4.7% - - - - -
2027 * $33.6B $27,928 5.5% 3.4% 12.7% 3.1M - 51.2% -5.2% - - - - -
2026 * $31.9B $25,738 5.3% 3.6% 12.8% 3.1M - 50.6% -6.0% - - - - -
2025 $29.2B $24,754 7.2% 3.3% 13.0% 3.1M - 49.0% -6.7% $605.1M - - - 387.01
2024 $26.0B $22,856 5.9% 0.3% 13.9% 3.0M 27.4 50.0% -4.6% $131.6M 78.3 - 81.3% 392.73
2023 $24.2B $21,552 8.3% 2.0% 12.4% 3.0M 27.2 50.5% -2.8% $580.4M 77.5 9.3% 80.0% 392.48
2022 $19.5B $19,158 12.6% 8.6% 13.5% 3.0M 27.9 49.2% 0.7% $975.7M 74.8 10.0% 77.0% 435.67
2021 $13.9B $15,922 5.8% 7.2% 15.5% 3.0M 27.9 63.4% -3.4% $366.4M 72.3 12.3% 78.6% 503.77
2020 $12.6B $14,706 -7.1% 1.2% 18.2% 3.0M 25.1 67.4% -4.0% $58.6M 73.4 12.2% 76.5% 489.01
2019 $13.6B $14,976 7.6% 1.4% 18.3% 3.0M 30.0 53.7% -7.1% $100.3M 76.2 11.4% 66.5% 480.45
2018 $12.5B $12,877 5.2% 2.5% 19.0% 3.0M 34.4 55.7% -7.2% $266.9M 75.6 10.0% 68.3% 482.99
2017 $11.5B $12,066 7.5% 1.0% 17.8% 3.0M 33.6 58.9% -1.3% $252.7M 75.2 10.4% 64.7% 482.72
2016 $10.5B $10,570 0.2% -1.4% 18.0% 3.0M 32.5 56.7% -1.0% $333.8M 74.9 10.0% 64.4% 480.49
2015 $10.6B $9,757 3.3% 3.7% 18.5% 3.0M 32.4 48.7% -2.7% $184.1M 74.9 10.1% 59.1% 477.92
2014 $11.6B $9,736 3.6% 3.0% 17.6% 3.0M 31.5 43.7% -7.8% $406.6M 74.9 10.2% 54.6% 415.92
2013 $11.1B $9,455 3.4% 5.7% 16.2% 3.0M 30.6 40.9% -7.3% $346.1M 74.6 10.3% 41.9% 409.63
2012 $10.6B $8,943 7.1% 2.5% 17.3% 3.0M 29.6 41.4% -10.0% $496.6M 74.1 9.1% 37.5% 401.76
2011 $10.1B $7,624 4.7% 7.5% 18.4% 3.0M 29.4 42.2% -10.4% $653.2M 73.8 9.4% 32.0% 372.50
2010 $9.3B $7,095 2.2% 8.2% 19.0% 3.0M 30.0 40.0% -13.6% $529.3M 73.2 9.2% 25.0% 373.66
2009 $8.6B $6,812 -14.1% 3.5% 18.7% 3.0M 28.0 40.6% -16.5% $760.0M 73.1 8.4% 15.3% 363.28
2008 $11.7B $7,827 6.9% 9.1% 16.4% 3.1M 29.2 16.4% -14.2% $943.7M 73.1 6.6% 6.2% 305.97
2007 $9.2B $7,137 13.7% 4.4% 28.7% 3.1M 31.2 16.1% -7.4% $667.7M 72.9 5.5% 6.0% 342.08
2006 $6.4B $6,073 13.2% 2.9% 27.8% 3.1M 29.7 18.7% -2.4% $466.5M 72.8 5.9% 5.6% 416.04
2005 $4.9B $5,172 13.8% 0.6% 31.2% 3.1M 36.0 24.4% -2.5% $292.1M 73.1 5.9% 5.3% 457.69
Source: World Bank + IMF World Economic Outlook. * = IMF forecast.

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