Armenia’s 2024 Macroeconomic Indicators Revealed
News
In 2024, Armenia’s Gross Domestic Product (GDP) surpassed the threshold of 10 trillion AMD (USD 25.8 billion), exceeding the levels recorded over the past three decades. GDP per capita reached 3.34 million AMD (USD 8,501).
Armenia’s economic growth rate stood at 5.9% in 2024, surpassing the targets set by both the International Monetary Fund (IMF) and the Armenian government. In addition, the Economic Activity Index reached 8%, reflecting the real growth of goods and services within the country.
GDP Composition in 2024
- Industry: 16.2%
- Agriculture: 7.9%
- Construction: 7.1%
- Net taxes: 10%
- Trade and services: 61.4%
Exports and Salaries
Exports reached USD 13.09 billion in 2024, representing an increase of 53.1% compared to the previous year.
The average nominal monthly salary increased by 6.4% year-on-year, while real wages grew by 12.4%.
Demographic Overview
In 2024, Armenia’s permanent population increased by 1.2%, reaching 3.03 million people.
These indicators demonstrate the steady growth of the Armenian economy, improvements in the investment climate, and the continued rise in productivity. These significant economic results are the outcome of government reforms and increased entrepreneurial activity, particularly in the sectors of industry, information technology, agriculture, and services.
This achievement is not only a key indicator of national economic stability but also a catalyst for future development and the emergence of new opportunities. Sustaining economic growth remains a top priority, with the objective of strengthening Armenia’s economic competitiveness on the international stage.
Source → https://enterprisearmenia.am/media/news/armenias-2024-macroeconomic-indicators-revealed/
