Data source: Statistical Committee of the Republic of Armenia and Central Bank of Armenia
Calculations and data processing: Economic Development and Research Center (EDRC)
Data were updated on October 10, 2019.
1Output growth data are presented for economic sectors.
2Including fishing.
3Includes alcoholic beverages and tobacco.
4Money transfers of individuals by banking system of RA.
Main indicators of current economic trends, in % to the same period of previous year
| 2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |
| Yearly | January-March1 | January-June1 | |||||||||||||
| Indicator of economic activity | 4.1 | 3.0 | 0.7 | 7.7 | 5.8 | 2.8 | 6.1 | 6.7 | 10.4 | 6.4 | 4.1 | 5.3 | 6.3 | 8.7 | 6.5 |
| GDP real growth | 3.6 | 3.2 | 0.2 | 7.5 | 5.2 | 3.4 | 4.4 | 7.2 | 10.2 | 7.2 | 4.0 | 3.4 | 7.0 | 8.6 | 6.8 |
| Agriculturial growth2 | 6.1 | 13.2 | -5.0 | -5.1 | -8.5 | 6.6 | 3.8 | -1.6 | 2.1 | 0.8 | 15.3 | 3.2 | -1.3 | 5.2 | -6.5 |
| in which Plant growing output |
6.9 | 15.4 | -11.7 | -7.2 | -12.1 | 28.9 | 12.4 | -44.8 | 120.0 | 48.7 | 38.7 | 2.2 | 0.0 | 21.1 | -15.3 |
| Industrial growth | -0.9 | 6.2 | 7.7 | 11.7 | 5.8 | 2.0 | 8.9 | 16.2 | 8.2 | 2.0 | 5.1 | 8.9 | 12.4 | 3.7 | 6.9 |
| in which Manufacturing | 6.0 | -5.5 | 11.1 | 11.8 | 11.1 | 0.6 | -0.5 | 21.4 | 18.8 | 5.5 | -2.1 | 5.1 | 17.5 | 8.6 | 8.7 |
| Mining | -6.4 | 56.8 | 5.9 | 25.7 | -14.2 | 27.7 | 27.7 | 13.8 | -7.9 | -4.5 | 34.8 | 18.8 | 8.9 | -9.8 | 6.8 |
| Energency | -15.2 | 5.3 | 0.0 | 3.8 | 9.2 | -13.2 | 18.0 | 6.9 | -2.6 | -3.1 | 3.5 | 11.4 | 0.5 | 3.3 | -0.3 |
| Water supply | 11.9 | 39.8 | 25.3 | 10.1 | -0.8 | 10.2 | 9.3 | 8.8 | -2.2 | -0.2 | 9.6 | 8.2 | 9.0 | -1.6 | 2.7 |
| Construction growth | -4.5 | -3.1 | -14.1 | 2.8 | 0.8 | 0.8 | -2.2 | -13.6 | 23.0 | 10.8 | 0.6 | -7.0 | -10.0 | 13.5 | 4.7 |
| Trade growth | 3.4 | -8.3 | 5.1 | 20.5 | 9.5 | -6.3 | -1.1 | 11.3 | 12.9 | 10.1 | -5.1 | -0.3 | 12.6 | 9.1 | 8.9 |
| Service growth (excluding trade) | 7.8 | 4.0 | 2.9 | 7.9 | 9.3 | 3.9 | 10.0 | 10.0 | 16.5 | 17.3 | 3.3 | 8.3 | 10.9 | 18.1 | 15.3 |
| External trade turnover growth (in USD) | 1.8 | -20.9 | 7.4 | 26.9 | 16.4 | -28.5 | -3.8 | 17.4 | 37.4 | -5.0 | -20.6 | 2.7 | 24.0 | 28.9 | 0.1 |
| Export | 4.6 | -4.0 | 20.0 | 25.2 | 7.8 | -23.1 | 26.3 | 16.5 | 34.4 | -8.6 | -1.3 | 16.7 | 21.0 | 20.0 | -0.5 |
| Import |
0.9 | -26.8 | 1.6 | 27.8 | 21.1 | -30.5 | -15.9 | 17.9 | 39.0 | -3.1 | -27.2 | -3.7 | 25.8 | 33.9 | 0.5 |
| Net export (balance of goods), % in GDP | -24.8 | -16.7 | -14.3 | -16.8 | -20.5 | -22.2 | -13.3 | -18.0 | -22.7 | -21.3 | -19.2 | -15.3 | -16.7 | -22.0 | -20.4 |
| Fiscal indicators | |||||||||||||||
| State budjet revenues growth | 6.9 | 2.0 | 0.3 | 5.7 | 8.4 | 2.5 | 0.3 | 7.9 | -5.4 | 25.0 | 0.3 | 1.6 | 6.3 | 4.3 | 25.1 |
| in which taxes and duties | 6.3 | 0.4 | 1.1 | 7.3 | 8.6 | 3.8 | -0.6 | 10.6 | -6.1 | 24.9 | 0.3 | 2.2 | 7.4 | 4.1 | 24.5 |
| State budget expenditures growth | 8.1 | 14.1 | 2.8 | 3.8 | -3.8 | 11.9 | 5.7 | 2.1 | -2.6 | 2.3 | 15.7 | 6.2 | -1.9 | -1.6 | 4.3 |
| State budjet deficit, % in GDP | -1.9 | -4.8 | -5.5 | -4.8 | 1.8 | -2.1 | -3.7 | -2.0 | -2.4 | 2.5 | -2.9 | -4.2 | -1.8 | -0.2 | 4.5 |
| Public debt, % in GDP | 43.7 | 48.7 | 56.7 | 58.9 | 55.8 | – | – | – | – | – | – | – | – | – | – |
| Consumer price index (end of period) | 4.6 | -0.1 | -1.1 | 2.6 | 1.8 | 2.3 | 0.4 | 1.4 | 2.5 | 2.6 | 0.0 | -1.0 | 1.2 | -0.6 | 1.0 |
| in which Food products3 | 6.3 | -3.7 | -0.2 | 5.3 | 1.8 | 2.8 | 1.3 | 4.8 | 4.1 | 2.0 | -2.4 | -1.2 | 3.9 | -3.0 | -0.4 |
| Non food products | 1.6 | 3.4 | -3.4 | 1.7 | 3.2 | 3.6 | -1.3 | -1.4 | 1.8 | 0.8 | 4.1 | -2.1 | -1.6 | 1.9 | 0.7 |
| Services | 3.0 | 3.2 | -0.7 | -0.5 | 0.8 | 0.8 | 0.5 | -1.5 | 0.8 | 0.4 | 1.1 | 0.0 | -0.8 | 1.1 | 0.4 |
| Consumer price index (period average) | 3.0 | 3.7 | -1.4 | 1.0 | 2.5 | 5.1 | -1.4 | -0.3 | 3.3 | 1.5 | 5.1 | -1.5 | 0.5 | 2.4 | 2.0 |
| Exchange rate devaluation (end of period) | |||||||||||||||
| to USD | 17.1 | 1.9 | 0.0 | 0.0 | -0.1 | -0.8 | -0.6 | -0.1 | -0.8 | 0.6 | -0.5 | -1.5 | -0.7 | -0.4 | -1.4 |
| to EUR | 3.2 | -8.5 | -3.1 | 13.3 | -4.6 | -12.5 | 3.4 | 0.7 | 2.0 | -1.5 | -8.5 | 0.3 | 7.0 | -3.2 | -1.9 |
| to RUR | -33.9 | -19.5 | 19.4 | 6.6 | -17.0 | -0.2 | 7.9 | 9.0 | -0.5 | 7.9 | 4.4 | 12.4 | 2.8 | -8.5 | 8.6 |
| Financial market interests rates | |||||||||||||||
| Refinancing rate (repo interest rate) of CBA | 8.5 | 8.8 | 6.3 | 6.0 | 6.0 | 10.5 | 8.3 | 6.0 | 6.0 | 5.8 | 10.5 | 7.5 | 6.0 | 6.0 | 5.8 |
| Government bonds (medium term) | 12.5 | 15.5 | 10.1 | – | 8.0 | 14.0 | 14.2 | 10.0 | 7.1 | 8.2 | 14.7 | 13.5 | 9.0 | – | 7.3 |
| Deposit rate (>1 year, physical entities, in drams) | 13.3 | 14.8 | 12.5 | 9.9 | 9.6 | 14.6 | 14.2 | 12.4 | 9.7 | 9.6 | 14.8 | 13.4 | 11.5 | 9.6 | 9.6 |
| Mortgage loans (physical entities, in drams) | 11.9 | 12.3 | 12.9 | 11.2 | 10.5 | 11.6 | 12.7 | 12.5 | 11.1 | 11.0 | 11.9 | 12.8 | 11.6 | 11.3 | 10.9 |
| Lending rate, in drams (>1 year, legal entities) | 14.7 | 13.8 | 12.9 | 10.2 | 11.2 | 13.9 | 15.2 | 12.6 | 11.4 | 11.1 | 14.1 | 13.0 | 12.8 | 11.0 | 10.9 |
| Lending rate, in dollars (>1 year, legal entities) | 10.9 | 9.9 | 9.2 | 9.2 | 7.7 | 11.2 | 10.1 | 9.8 | 9.0 | 7.7 | 11.1 | 9.9 | 8.9 | 8.6 | 7.8 |
| Monetary indicators | |||||||||||||||
| Broad money growth | 8.3 | 10.8 | 17.5 | 18.5 | 7.4 | 6.4 | 14.7 | 18.7 | 15.4 | 7.2 | 6.3 | 13.9 | 17.5 | 13.6 | 8.9 |
| Governence crediting growth (by banks) | -395.5 | 14.8 | 190.5 | 42.0 | 12.6 | 243.3 | -516.3 | 124.2 | 27.5 | 12.6 | -398.5 | 1511.0 | 55.9 | 14.3 | -6.8 |
| Economy crediting growth (by banks) | 20.8 | -3.3 | 6.0 | 16.5 | 17.2 | 14.1 | 2.0 | 5.3 | 20.0 | 16.0 | 9.9 | 3.8 | 7.8 | 22.4 | 13.1 |
| Deposit growth (within banks) | 14.2 | 13.9 | 18.5 | 19.5 | 7.5 | 7.8 | 20.7 | 17.0 | 17.3 | 7.2 | 9.9 | 16.6 | 17.6 | 13.4 | 11.0 |
| in which FX deposit growth | 22.7 | 16.3 | 11.2 | 8.4 | 0.8 | 13.0 | 21.2 | 10.1 | 5.5 | -0.2 | 17.9 | 12.2 | 12.1 | 3.2 | 2.8 |
| Currency growth (outside banks) | -9.4 | -0.8 | 13.1 | 13.9 | 7.2 | -9.8 | 0.1 | 27.7 | 6.4 | 7.7 | -6.7 | 2.3 | 16.7 | 14.8 | -0.6 |
| Reserve Money (without PIU accounts), bln drams | 886.8 | 921.3 | 1,042.3 | 1,032.0 | 1,215.6 | 792.0 | 849.8 | 970.5 | 986.6 | 1,195.6 | 818.0 | 777.0 | 956.5 | 975.8 | 1,128.9 |
| Money transfers growth4 | |||||||||||||||
| USD | -7.8 | -23.2 | -6.1 | 14.6 | 1.7 | -35.1 | 0.1 | 14.5 | 14.5 | 9.3 | -28.4 | -8.8 | 16.4 | 8.7 | 10.0 |
| AMD | -6.6 | -11.5 | -5.7 | 15.2 | 1.8 | -24.7 | 2.6 | 13.8 | 13.4 | 10.6 | -17.2 | -7.6 | 16.6 | 8.2 | 10.5 |
| Energy production growth | 0.5 | 0.6 | -6.2 | 6.1 | 0.2 | -12.6 | 5.0 | 9.3 | 0.4 | -14.0 | 1.5 | -4.9 | 5.2 | 1.5 | -5.5 |