Armenia's GDP changed from approximately $108M in 1992 to $25B 408M in 2024, showing an overall 23425.9% sharply increased during the period.
The lowest GDP was recorded in 1992 at $108M, and the highest in 2024 at $25B 408M.
Over the 32-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 18.6%.
For comparison, the average annual growth rate of Azerbaijan was 14.0%, and that of Georgia was 13.0%.
Armenia GDP from 1992 to 2024
The total market value of goods and services produced annually in Armenia.
Overview of Armenia's GDP (1992–2024)
The Gross Domestic Product (GDP) of Armenia recorded a 23425.9% sharply increased from 1992 to 2024.
The average GDP during this period was $8B 196M, and the median was $9B 206M.
GDP fluctuated within a range of $25B 300M, with a standard deviation of $6B 639M.
The average annual change was $639M 611K.
Highest and Lowest GDP Records
- Lowest GDP: 1992, $108M
- Highest GDP: 2024, $25B 408M
- Most Recent GDP: 2024, $25B 408M
Notable Annual GDP Changes
- 2022: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Armenia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $13B 619M → $12B 642M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $9B 206M → $8B 648M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $1B 912M → $2B 118M
- Outcome: sharply increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $1B 639M → $1B 892M
- Outcome: sharply increased
Key Economic Indicators of Armenia (1992–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1992 | $ 108M | $ 31.32 | $ 1,624.85 | $ 5B 606M | 0 % | -46.28 % | 0 % | 0 % | 3M 450K people |
1993 | $ 835M | $ 247.88 | $ 1,463.53 | $ 4B 932M | -14.054 % | -5.993 % | 0 % | 0 % | 3M 370K people |
1994 | $ 648M | $ 196.98 | $ 1,613.81 | $ 5B 309M | 5.4 % | 3.804 % | 0 % | 0 % | 3M 290K people |
1995 | $ 1B 287M | $ 399.58 | $ 1,818.69 | $ 5B 856M | 8.033 % | -16.972 % | 3.84 % | 0 % | 3M 220K people |
1996 | $ 1B 597M | $ 503.77 | $ 1,978.44 | $ 6B 272M | 5.169 % | -18.202 % | 2.89 % | 0 % | 3M 170K people |
1997 | $ 1B 639M | $ 521.87 | $ 2,100.61 | $ 6B 596M | 3.387 % | -19.315 % | 3.95 % | 0 % | 3M 140K people |
1998 | $ 1B 892M | $ 608.41 | $ 2,279.21 | $ 7B 88M | 6.271 % | -21.993 % | 0.69 % | 0 % | 3M 110K people |
1999 | $ 1B 845M | $ 597.24 | $ 2,400.17 | $ 7B 417M | 3.17 % | -16.936 % | 3.83 % | 0 % | 3M 90K people |
2000 | $ 1B 912M | $ 620.64 | $ 2,606.63 | $ 8B 28M | 5.853 % | -15.78 % | 2.45 % | 0 % | 3M 80K people |
2001 | $ 2B 118M | $ 692.29 | $ 2,936.74 | $ 8B 986M | 9.468 % | -10.44 % | 5.40 % | 0 % | 3M 60K people |
2002 | $ 2B 376M | $ 779.12 | $ 3,435.21 | $ 10B 477M | 14.807 % | -6.219 % | 11.94 % | 0 % | 3M 50K people |
2003 | $ 2B 807M | $ 923.39 | $ 4,008.42 | $ 12B 186M | 14.052 % | -6.181 % | 18.21 % | 0 % | 3M 40K people |
2004 | $ 3B 577M | $ 1,180.40 | $ 4,562.29 | $ 13B 824M | 10.473 % | -2.204 % | 20.71 % | 0 % | 3M 30K people |
2005 | $ 4B 900M | $ 1,628.06 | $ 5,405.11 | $ 16B 268M | 14.113 % | -2.529 % | 25.84 % | -1.517 % | 3M 10K people |
2006 | $ 6B 384M | $ 2,128.15 | $ 6,328.19 | $ 18B 985M | 13.198 % | -2.395 % | 31.16 % | -1.611 % | 3M people |
2007 | $ 9B 206M | $ 3,079.03 | $ 7,418.02 | $ 22B 180M | 13.749 % | -7.357 % | 30.80 % | -2.018 % | 2M 990K people |
2008 | $ 11B 662M | $ 3,913.44 | $ 8,113.36 | $ 24B 178M | 6.948 % | -14.225 % | 29.59 % | -1.465 % | 2M 980K people |
2009 | $ 8B 648M | $ 2,911.76 | $ 7,031.88 | $ 20B 885M | -14.15 % | -16.484 % | 17.34 % | -7.171 % | 2M 970K people |
2010 | $ 9B 260M | $ 3,121.78 | $ 7,282.87 | $ 21B 604M | 2.2 % | -13.622 % | 15.80 % | -4.107 % | 2M 966K people |
2011 | $ 10B 142M | $ 3,417.17 | $ 7,778.18 | $ 23B 86M | 4.7 % | -10.44 % | 16.56 % | -1.942 % | 2M 968K people |