As per International Monetary Fund (IMF) Armenia’s nominal gross domestic product is expected to grow at a CAGR of 6.1% from it’s 2015 level of AMD 5032.09 billion and reach AMD 7615.77 billion by 2022.
Armenia is located between Asia and Europe and occupies a land area of 29,800 square kilometers, bordered by Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran to the south. Armenia declared independence on 21 September 1991, following the dissolution of the Soviet Union. Armenia is made up of 11 provinces, with Yerevan as the capital, and has a presidential republic form of government. The official language is Armenian, although Russian is also widely used. The currency of Armenia is the dram (AMD).
Armenia had estimated population of 2.991 million in the year 2016 and expected to reach 2.992 million by 2022. Armenia’s unemployment rate was 18.79% of total labor force.
Armenia’s real gross domestic product (GDP) was around AMD 3358.31 billions in 2016 whereas the nominal GDP was AMD 5067.87 billions. This resulted in GDP deflator 150.905. Per capita GDP was estimated at USD 3510.65 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 8620.98.
In 2016, Armenia government’s revenue was AMD 1085.19 billions whereas the expenditure was AMD 1370.59 billions. This resulted Armenia government’s net lending / borrowing negative at AMD 285.406 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Armenia was estimated to be negative at USD 0.302 billions for the year 2016 and is expected to decline at a CAGR of 11.59% and reach USD 0.601 by 2022. This negative current account balance indicates the Armenia is a net borrower from the whole world.
Scope of the Armenia PESTEL Analysis, SWOT Analysis and Risk Analysis Market Research Reports
- These reports provide information about key macroeconomic indicators for Armenia.
- These reports provide PESTELE (political, economic, social, technological, environmental and legal) analysis for Armenia.
- These reports provide SWOT (strengths, weaknesses, opportunities and threats) analysis for Armenia.
- These reports provide risk analysis for Armenia.
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