Economic Growth in Armenia
The Armenian economy recorded an average growth rate of 4.2% in the decade to 2022, above the 2.5% average for Eastern Europe. In 2022, the real GDP growth was 12.6%. For more GDP information, visit our dedicated page.
Armenia GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Armenia from 2014 to 2023.
Source: Macrobond.
Armenia GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 7.7 | -7.2 | 5.8 | 12.6 | 8.4 |
| GDP (USD bn) | 13.6 | 12.6 | 13.9 | 19.5 | 24.1 |
| GDP (EUR bn) | 12.2 | 11.1 | 11.7 | 18.5 | 22.3 |
| GDP (AMD bn) | 6,543 | 6,182 | 6,992 | 8,501 | 9,453 |
| Economic Growth (Nominal GDP, ann. var. %) | 8.7 | -5.5 | 13.1 | 21.6 | 11.2 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Armenian GDP projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Armenian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Armenian GDP projections.
Want to get access to the full dataset of Armenian GDP forecasts? Send an email to info@focus-economics.com.