Gross domestic product (GDP) in Armenia
Armenia: Gross domestic product (GDP) was 61.47 billion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
61.47 billion international-$ in 2021 prices
Change on year
up 10.7%
World rank
109th
of 184 countries
All-time high
61.47 billion international-$ in 2021 prices
in 2023
All-time low
10.53 billion international-$ in 2021 prices
in 1994
Years of data
32
1992–2023
Gross domestic product (GDP) in Armenia, 1992–2023
Source: Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
Armenia recorded 61.47 billion international-$ in 2021 prices for gross domestic product (gdp) in 2023. That is the highest value across all 32 years on record.
The figure is up 10.7% on the previous year and up 79.3% over ten years.
Over the whole period, gross domestic product (gdp) in Armenia peaked at 61.47 billion international-$ in 2021 prices in 2023 and was at its lowest, 10.53 billion international-$ in 2021 prices, in 1994.
That places Armenia 109th out of 184 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP) in Armenia, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1992 | 14.20 billion international-$ in 2021 prices | — |
| 1993 | 13.64 billion international-$ in 2021 prices | -3.9% |
| 1994 | 10.53 billion international-$ in 2021 prices | -22.8% |
| 1995 | 10.98 billion international-$ in 2021 prices | +4.3% |
| 1996 | 12.10 billion international-$ in 2021 prices | +10.2% |
| 1997 | 12.65 billion international-$ in 2021 prices | +4.5% |
| 1998 | 11.56 billion international-$ in 2021 prices | -8.6% |
| 1999 | 12.76 billion international-$ in 2021 prices | +10.4% |
| 2000 | 13.09 billion international-$ in 2021 prices | +2.6% |
| 2001 | 13.86 billion international-$ in 2021 prices | +5.9% |
| 2002 | 15.03 billion international-$ in 2021 prices | +8.5% |
| 2003 | 17.14 billion international-$ in 2021 prices | +14.0% |
| 2004 | 18.28 billion international-$ in 2021 prices | +6.7% |
| 2005 | 20.34 billion international-$ in 2021 prices | +11.2% |
| 2006 | 23.09 billion international-$ in 2021 prices | +13.5% |
| 2007 | 26.11 billion international-$ in 2021 prices | +13.1% |
| 2008 | 28.33 billion international-$ in 2021 prices | +8.5% |
| 2009 | 26.12 billion international-$ in 2021 prices | -7.8% |
| 2010 | 28.69 billion international-$ in 2021 prices | +9.8% |
| 2011 | 31.55 billion international-$ in 2021 prices | +10.0% |
| 2012 | 35.92 billion international-$ in 2021 prices | +13.9% |
| 2013 | 34.29 billion international-$ in 2021 prices | -4.5% |
| 2014 | 35.20 billion international-$ in 2021 prices | +2.6% |
| 2015 | 35.07 billion international-$ in 2021 prices | -0.3% |
| 2016 | 37.76 billion international-$ in 2021 prices | +7.7% |
| 2017 | 43.14 billion international-$ in 2021 prices | +14.2% |
| 2018 | 44.49 billion international-$ in 2021 prices | +3.1% |
| 2019 | 52.09 billion international-$ in 2021 prices | +17.1% |
| 2020 | 49.29 billion international-$ in 2021 prices | -5.4% |
| 2021 | 50.13 billion international-$ in 2021 prices | +1.7% |
| 2022 | 55.51 billion international-$ in 2021 prices | +10.7% |
| 2023 | 61.47 billion international-$ in 2021 prices | +10.7% |
Armenia compared with similar countries
- Armenia's 61.47 billion international-$ in 2021 prices is below the median for upper middle income countries, which is 148.60 billion international-$ in 2021 prices, 41% of the median. (51 countries reporting)
- Armenia's 61.47 billion international-$ in 2021 prices is below the median for Europe & Central Asia, which is 314.74 billion international-$ in 2021 prices, 20% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12.30 billion international-$ in 2021 prices | 10.53 billion international-$ in 2021 prices | 14.20 billion international-$ in 2021 prices | 8 |
| 2000s | 20.14 billion international-$ in 2021 prices | 13.09 billion international-$ in 2021 prices | 28.33 billion international-$ in 2021 prices | 10 |
| 2010s | 37.82 billion international-$ in 2021 prices | 28.69 billion international-$ in 2021 prices | 52.09 billion international-$ in 2021 prices | 10 |
| 2020s | 54.10 billion international-$ in 2021 prices | 49.29 billion international-$ in 2021 prices | 61.47 billion international-$ in 2021 prices | 4 |
Countries ranked near Armenia
- 106 Latvia 65.02 billion international-$ in 2021 prices compare
- 107 Laos 64.50 billion international-$ in 2021 prices compare
- 108 Luxembourg 62.79 billion international-$ in 2021 prices compare
- 110 Mali 61.19 billion international-$ in 2021 prices compare
- 111 Bosnia and Herzegovina 60.59 billion international-$ in 2021 prices compare
- 112 Burkina Faso 54.36 billion international-$ in 2021 prices 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 252.31 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0086 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 81.74 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 605.13 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 359.96 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0207 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 196.04 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 38.07 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Armenia?
- Gross domestic product (gdp) in Armenia was 61.47 billion international-$ in 2021 prices in 2023, according to Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Armenia?
- The highest recorded value was 61.47 billion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Armenia?
- The lowest recorded value was 10.53 billion international-$ in 2021 prices in 1994.
- How does Armenia rank for gross domestic product (gdp)?
- Armenia ranks 109th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Armenia?
- Over the last ten years it is up 79.3%. The long-run trend across the full record is volatile.
- Where does this Armenia data come from?
- The figures come from Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.