GDP growth in Armenia
Armenia: GDP growth was 5.9 in 2024. ◆ Volatile
Latest (2024)
5.9
Change on year
down 28.9%
World rank
9th
of 74 countries
All-time high
14
in 2003
All-time low
-41.8
in 1992
Years of data
34
1991–2024
GDP growth in Armenia, 1991–2024
Source: UNICEF.
Analysis
The most recent figure for gdp growth in Armenia is 5.9, measured in 2024.
That represents a change of down 28.9% on the previous year and up 63.9% over ten years.
Over the whole period, gdp growth in Armenia peaked at 14 in 2003 and was at its lowest, -41.8, in 1992.
That places Armenia 9th out of 74 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth in Armenia, year by year
| Year | Value | Change |
|---|---|---|
| 1991 | -11.7 | — |
| 1992 | -41.8 | +257.3% |
| 1993 | -8.8 | -78.9% |
| 1994 | 5.4 | -161.4% |
| 1995 | 6.9 | +27.8% |
| 1996 | 5.87 | -15.0% |
| 1997 | 3.32 | -43.4% |
| 1998 | 7.3 | +119.8% |
| 1999 | 3.3 | -54.8% |
| 2000 | 5.9 | +78.8% |
| 2001 | 9.6 | +62.7% |
| 2002 | 13.2 | +37.5% |
| 2003 | 14 | +6.1% |
| 2004 | 10.5 | -25.0% |
| 2005 | 13.9 | +32.4% |
| 2006 | 13.2 | -5.0% |
| 2007 | 13.7 | +3.8% |
| 2008 | 6.9 | -49.6% |
| 2009 | -14.1 | -304.3% |
| 2010 | 2.2 | -115.6% |
| 2011 | 4.7 | +113.6% |
| 2012 | 7.2 | +53.2% |
| 2013 | 3.3 | -54.2% |
| 2014 | 3.6 | +9.1% |
| 2015 | 3.2 | -11.1% |
| 2016 | 0.2 | -93.8% |
| 2017 | 7.5 | +3650.0% |
| 2018 | 5.2 | -30.7% |
| 2019 | 7.6 | +46.2% |
| 2020 | -7.2 | -194.7% |
| 2021 | 5.8 | -180.6% |
| 2022 | 12.6 | +117.2% |
| 2023 | 8.3 | -34.1% |
| 2024 | 5.9 | -28.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -3.36 | -41.8 | 7.3 | 9 |
| 2000s | 8.68 | -14.1 | 14 | 10 |
| 2010s | 4.47 | 0.2 | 7.6 | 10 |
| 2020s | 5.08 | -7.2 | 12.6 | 5 |
Countries ranked near Armenia
- 6 Malta 6.8 compare
- 7 Uzbekistan 6.5 compare
- 8 Turkmenistan 6.3 compare
- 10 Kazakhstan 5 compare
- 11 Kosovo (UNSCR 1244) 4.57 compare
- 12 Russian Federation 4.34 compare
More economy & growth data for Armenia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.5 Percent per annum (2029)
- Gross domestic savings (current US$), annual growth rate 0.2524 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.187 current US$ per US$ of GDP (2025)
- Gross domestic savings (current US$), per capita 1,772 current US$ per person (2025)
- Gross domestic savings (current LCU), annual growth rate -1.21 % change on previous year (2025)
- Gross domestic savings (current LCU), per unit of GDP 72.38 current LCU per US$ of GDP (2025)
- Gross domestic savings (current LCU), per capita 685,732 current LCU per person (2025)
- GNI, Atlas method (current US$), annual growth rate 17.51 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9523 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is gdp growth in Armenia?
- Gdp growth in Armenia was 5.9 in 2024, according to UNICEF.
- What is the highest gdp growth recorded in Armenia?
- The highest recorded value was 14 in 2003.
- What is the lowest gdp growth recorded in Armenia?
- The lowest recorded value was -41.8 in 1992.
- How does Armenia rank for gdp growth?
- Armenia ranks 9th out of 74 countries with data for 2024.
- Is gdp growth rising or falling in Armenia?
- Over the last ten years it is up 63.9%. The long-run trend across the full record is volatile.
- Where does this Armenia data come from?
- The figures come from UNICEF, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
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