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Armenia GDP Annual Growth Rate

Armenia's GDP annual growth rate fell to 5.9% in 2024, down from 8.3% in 2023, according to World Bank. This represents a decrease of 2.4% from the previous year. Armenia has GDP annual growth rate higher than the global median (5.90% vs median 3.24%). Compared with the median in Asia, Armenia is higher (5.90% vs regional median 3.76%) and ranks 9th out of 47 countries in Asia.

Armenia's real GDP rose to $16.32 billion in 2024, up from $15.41 billion in 2023.

Yearly Historical Data (1991-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 5.9%
2023 8.3%
2022 12.6%
2021 5.8%
2020 -7.2%
2019 7.6%
2018 5.2%
2017 7.5%
2016 0.2%
2015 3.2%
2014 3.6%
2013 3.3%
2012 7.2%
2011 4.7%
2010 2.2%
2009 -14.1%
2008 6.9%
2007 13.7%
2006 13.2%
2005 13.9%
2004 10.5%
2003 14%
2002 13.2%
2001 9.6%
2000 5.9%
1999 3.3%
1998 7.3%
1997 3.32%
1996 5.87%
1995 6.9%
1994 5.4%
1993 -8.8%
1992 -41.8%
1991 -11.7%
Armenia GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Armenia's total economic output.
Indicator Last Value Prior Value Period
GDP $25.79B $24.09B 2024
GDP per Capita $5,378.32 $5,197.24 2024
GDP per Capita PPP $20,078.78 $19,402.75 2024
R&D Expenditure (% GDP) 0.18% 0.21% 2023
Real GDP $16.32B $15.41B 2024