Total factor productivity in Armenia
Armenia: Total factor productivity was 1.11 in 2023. ▲ Rising
Latest (2023)
1.11
Change on year
up 3.6%
World rank
5th
of 120 countries
All-time high
1.11
in 2023
All-time low
0.249
in 1994
Years of data
30
1994–2023
Total factor productivity in Armenia, 1994–2023
Source: Our World in Data.
Analysis
In 2023, total factor productivity in Armenia stood at 1.11. That is the highest value across all 30 years on record.
That represents a change of up 3.6% on the previous year and up 33.6% over ten years.
Over the whole period, total factor productivity in Armenia peaked at 1.11 in 2023 and was at its lowest, 0.249, in 1994.
Armenia ranks 5th of 120 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 30 years of available data.
Total factor productivity in Armenia, year by year
| Year | Value | Change |
|---|---|---|
| 1994 | 0.249 | — |
| 1995 | 0.2671 | +7.3% |
| 1996 | 0.2898 | +8.5% |
| 1997 | 0.3116 | +7.5% |
| 1998 | 0.3421 | +9.8% |
| 1999 | 0.3615 | +5.7% |
| 2000 | 0.3872 | +7.1% |
| 2001 | 0.4335 | +11.9% |
| 2002 | 0.5492 | +26.7% |
| 2003 | 0.6219 | +13.2% |
| 2004 | 0.6877 | +10.6% |
| 2005 | 0.7595 | +10.4% |
| 2006 | 0.8322 | +9.6% |
| 2007 | 0.9038 | +8.6% |
| 2008 | 0.8441 | -6.6% |
| 2009 | 0.7715 | -8.6% |
| 2010 | 0.7584 | -1.7% |
| 2011 | 0.7861 | +3.6% |
| 2012 | 0.8248 | +4.9% |
| 2013 | 0.8292 | +0.5% |
| 2014 | 0.8485 | +2.3% |
| 2015 | 0.9277 | +9.3% |
| 2016 | 0.9538 | +2.8% |
| 2017 | 1.03 | +7.7% |
| 2018 | 1 | -2.3% |
| 2019 | 1.05 | +4.7% |
| 2020 | 1.01 | -4.0% |
| 2021 | 1 | -0.9% |
| 2022 | 1.07 | +6.9% |
| 2023 | 1.11 | +3.6% |
Armenia compared with similar countries
- Armenia's 1.11 is above the median for upper middle income countries, which is 0.9902, 1.1× the median. (33 countries reporting)
- Armenia's 1.11 is above the median for Europe & Central Asia, which is 0.9969, 1.1× the median. (40 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.3035 | 0.249 | 0.3615 | 6 |
| 2000s | 0.6791 | 0.3872 | 0.9038 | 10 |
| 2010s | 0.9011 | 0.7584 | 1.05 | 10 |
| 2020s | 1.05 | 1 | 1.11 | 4 |
Countries ranked near Armenia
More economy & growth data for Armenia
- Real gdp growth, annual growth rate 22.28 % change on previous year (2025)
- 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)
- SDRs holdings, US dollar, annual growth rate -34.44 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 0.41 units per person (2025)
- SDRs holdings, SDR, annual growth rate -37.57 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 0.2994 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -31.41 % change on previous year (2025)
Frequently asked questions
- What is total factor productivity in Armenia?
- Total factor productivity in Armenia was 1.11 in 2023, according to Our World in Data.
- What is the highest total factor productivity recorded in Armenia?
- The highest recorded value was 1.11 in 2023.
- What is the lowest total factor productivity recorded in Armenia?
- The lowest recorded value was 0.249 in 1994.
- How does Armenia rank for total factor productivity?
- Armenia ranks 5th out of 120 countries with data for 2023.
- Is total factor productivity rising or falling in Armenia?
- Over the last ten years it is up 33.6%. The long-run trend across the full record is rising.
- Where does this Armenia data come from?
- The figures come from Our World in Data, published as part of Total factor productivity. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under CC BY 4.0 (Our World in Data).