02 Apr, 2020
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Armenia

Armenia (orthographic projection)

We offer a data-driven country report for Armenia that explores inter alia population, international trading relationships, energy consumption, GDP growth, current account balances, and R&D investment. Additionally, CFI quotes from the Big Mac Index (courtesy of The Economist) which gives a rough idea of purchasing power parity. Other authoritative sources include The United Nations Conference on Trade and Development, The World Bank, and The International Money Fund. Visit us regularly for updates and new sources of key economic information on Armenia.[/vc_column_text][vc_column_text]

Its population in 2018 was 2,934,152 [1]

In 2015, 15.79% of its total energy
consumption was renewable [2]

In 2021, its GDP grew by 5.70% [2]

In 2021 it had a negative Current
Account Balance of US$bn 0.34 [3]

Its unemployment rate in 2021 was 18.50% [3]

Its Expenditure on R&D (as a percentage of
GDP) in 2020 was 0.21% [2]

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What free trade areas or economic unions is it a member of?

Member of the Organization of the Black Sea Economic Cooperation (BSEC) since 05/06/1998

Other members:

Albania, Azerbaijan, Bulgaria, Georgia, Greece, Republic of Moldova, Romania, Russian Federation, Serbia, Türkiye, Ukraine


What trade deals are there between Organization of the Black Sea Economic Cooperation and other countries and economic unions?

None

Member of the Eurasian Economic Union (EAEU) since 01/01/2015

Other members:

Belarus, Kazakhstan, Kyrgyz Republic, Russian Federation


What trade deals are there between Eurasian Economic Union and other countries and economic unions?

EAEU - Egypt Free Trade Agreement (from 05/10/2015)

CIS Free Trade Zone Agreement (CISFTA) (from 19/03/2016)

EAEU - VietNam Free Trade Agreement (from 05/10/2016)

EAEU - Serbia Free Trade Agreement (from 01/10/2019)

EAEU - Iran free trade agreement (from 27/10/2019)

EAEU - Serbia free trade agreement (from 10/07/2021)

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What trade deals are there with other countries and economic unions?

Armenia - Turkmenistan free trade agreement (from 07/07/1996)

Georgia - Armenia free trade agreement (from 11/11/1998)

EU - Armenia Partnership and Cooperation Agreement (from 09/09/1999)

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Trade with the United Kingdom

Source: UK Office for National Statistics, October 2022.

Contains public sector information licensed under the Open Government Licence v3.0.

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