Ivan Kushnir

Economy of Armenia Ivan Kushnir

This book about the economy of Armenia from the 1990s to the 2010s. Source data from UN Data.

Size. In the 2010s, the GDP of Armenia was equal to $11.3 billion per year; the value of agriculture was $1.8 billion; the value of manufacturing was $1.1 billion. Since the share in the world is between .01% and .1%, the country is classified as a small economy.

Productivity. In the 2010s, the gross domestic product per capita was $3 867.7, the value of agriculture per capita was $628.8, the value of manufacturing per capita was $393.7. Since the productivity is less the average below average, the economy is classified as least developed.

Growth. In the 2010s, the growth of GDP was 4.4%; the growth of agriculture was 1.0%; the growth of manufacturing was 7.9%.

Structure. In the 2010s, the economy of Armenia consisted of: services (32.2%), industry (18.6%), agriculture (17.9%), trade (13.9%), construction (10.5%), and transportation (7.0%).

Export and import. In the 2010s, the import was 51.9% higher than the export, the net import was equal to 16.3% of the GDP. The technological structure of export is not better than the structure of import.

Consumption and reproduction. The attitude of reproduction to the consumption is not better than the global average, so the share of GDP in the world will not increase.