Key Economic Indicators

Armenia ranks as the most economically free nation in the CIS
www.heritage.org/index

Armenia was included in a list of countries with a high degree of economic freedom in 2011 occupying 36th place, higher than France, according to the annual survey "Index of Economic Freedom" conducted by the Heritage Foundation / the Wall Street Journal. 

The appraisal of economic freedom is based on 50 economic indicators within the following categories: capital flows and foreign investments; banking and financial systems; monetary, budget and trade polices; salaries and prices; state interference in the economy; property rights and regulations; and black markets.

Armenia was included in a list of countries with a high degree of economic freedom in 2004 occupying 44th place together with France according to the annual survey “Index of Economic Freedom” conducted by the Heritage Foundation /the Wall Street Journal/.

Armenia has a successful record of transition creating a favorable macroeconomic climate based on a market economy. There has been consistent growth since 1994. The country has successfully implemented a comprehensive stabilization and structural reform program. In 1993, the first stock exchange was established and the new currency, the Dram, was introduced.

Index of Economic Freedom, 2005-2012

 

 

GDP Structure,  2005 -2010 (%)

Sector/year	2005	2006	2007	2008	2009	2010
Industry	16.7	13.4	11.7	10.4	11.4	12
Agriculture	19.0	18.7	18.2	16.1	16.7	17.2
Construction	19.6	23.7	24.5	25.3	18.6	17.1
Transport	6.0	6.3	6.9	6.8	7.2	6.8
Trade	11.4	11.4	10.9	11.6	12.7	13.0

 

Financial & Economic Data, 2007-2011

 

Description/year	2007	2008	2009	2010	2011
Real GDP growth, (%)	13.7	6.9	-14.1	2.1	-
Inflation rate (% ave)	4.4	9.0	3.4	8.2	7.7
Foreign Total Investment	670	1257.6	840.7	693.4	586.7
Unemployment rate (% of labor force)	7.1	6.3	7	7	6.7
Exchange Rate (AMD/USD annual average)	342.08	305.97	363.28	373.66	372.50

 

 

Inflation, Currency and Exchange Rate, 2007-2011

The price growth rate has fluctuated since 2007. It accounted for 4.4% in 2007, 9.0% in 2008, 3.4% in 2009 and 8.2% in 2010. During the recent years the currency exchange rate has remained relatively stable. In 2009, the dram-dollar relation has changed: the dollar was evaluated over the dram considerably in comparison with the previous year (for circa 18.7%). The evaluation increase went on till 2010. In 2011, the dram was evaluated by 0.3% over the previous year.

 

 

 

Exports and Imports of Armenia

Despite the adverse impacts of the Global Financial Crisis in 2009, the exports in Armenia have a growing trend. In 2011, the exports have increased by almost 28% over the previous year. As for 2011, the main export countries are: EU countries (45.7%); CIS countries (19.8%); Russia (16.8%); Germany (11.9%); Bulgaria (11.5%); Iran (8.0%); USA (7.6%). The imports have increased by 10.7% in 2011 over the previous year. As for 2011, the main import countries are: CIS countries (29.1%); EU countries (28.2%); Russia (21.5%); China (9.8%); Germany (5.9%); Turkey (5.8%).

 

Export Countries,  2008-2011 (%)

 

 

 

 

Import countries,   2008-2011 (%)

 

 

 

                                 Main Export Products,    2008-2011                                     

                                                                                  in thous. US dollars

 

 

 Main Import Products, 2008-2011

  in thous. US dollars                                                                                      

 

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