Armenia’s 2024 Macroeconomic Indicators Revealed

In 2024, GDP surpassed the 10 trillion AMD threshold ($25.8 billion), exceeding the levels of the past three decades. GDP per capita reached 3.34 million AMD ($8,501). Armenia's economic growth rate in 2024 stood at 5.9%, meeting and surpassing the targets set by the International Monetary Fund (IMF) and the Government of Armenia, while the economic activity index reached 8%, reflecting the real growth of goods and services in the country.

GDP Composition in 2024:

• Industry – 16.2%
• Agriculture – 7.9%
• Construction – 7.1%
• Net Taxes – 10%
• Trade & Services – 61.4%

Exports & Wages:

• Exports in 2024 amounted to $13.09 billion, showing a 53.1% increase compared to the previous year.
• The average nominal monthly salary increased by 6.4% year-over-year, while real wages grew by 12.4%.

Demographic Insights:

In 2024, Armenia's permanent population grew by 1.2%, reaching 3.03 million people.

All these indicators demonstrate the stable growth of the country’s economy, the improvement of the investment climate, and the continuous rise in productivity. These significant economic results stem from government-led reforms and increased entrepreneurial activity, particularly in industry, information technology, agriculture, and services.

This achievement is not only a crucial indicator of national economic stability but also a catalyst for future development and new opportunities. Ensuring sustained economic growth remains a top priority, aimed at strengthening Armenia’s economic competitiveness on the international stage.