Industry in Armenia

Armenia Industry | Economic News & Forecasts

Armenia - Industry

The economy seems to have expanded at a firmer pace in the first quarter of this year, after GDP growth picked up steam in Q4 2021. Economic activity growth averaged higher in January–March compared to the previous quarter’s average, likely thanks to healthier external demand as pandemic-related constraints subsided. That said, the economy is set to be markedly affected by the economic fallout stemming from Russia-Ukraine war in Q2. Unprecedented international sanctions will likely drive a sharp fall in exports to Russia—Armenia’s largest trading partner—while tumbling remittances and investment from Russia paint a grim picture for domestic demand. Meanwhile, protests demanding the resignation of Prime Minister Nikol Pashinyan erupted in early May, reflecting a highly volatile political environment domestically and boding poorly for the business climate.

Armenia - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)5.1  6.8  12.6  4.4  9.0  

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Note: Industrial production, annual variation in %.
Source: National Statistical Service of Armenia

Armenia Facts

Value Change Date
Stock Market0.10.0 %Jan 07

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