Armenia

Description of Armenia

Armenia, the land of ancient civilizations and stunning landscapes, holds a strategic position at the crossroads of Europe and Asia. With a rich history dating back thousands of years, Armenia has overcome numerous challenges to emerge as a vibrant nation seeking to carve its path in the modern world. As we delve into the geopolitical and macroeconomic landscape of Armenia, we explore the unique opportunities and obstacles that shape its development trajectory and its relationships with neighboring countries and global powers.

Population And Age Structure

Armenia's total population is 2,805,608, ranking 136 out of 194 countries. This is significantly below the average total population of 40,097,746. Armenia's population aged 0-14 is 20.34% of the total population, lower than the average of 27.34%, placing it at 126 out of 194 countries.

The country's population aged 15-64 makes up 67.25% of the total population, higher than the average of 63.44%, ranking Armenia at 50 out of 194 countries. Armenia has 12.41% of its population aged 65 and above, above the average of 9.22%, placing it at 59 out of 194 countries.

Summary

Armenia has a relatively small total population, with a lower percentage of children (0-14 years) and a higher percentage of working-age population (15-64 years) compared to the global average. Additionally, Armenia has a higher-than-average proportion of elderly population (65 years and above). These demographic indicators are crucial as they impact the country's workforce, healthcare system, and pension requirements, highlighting the need for policies addressing issues related to an aging population and ensuring a sustainable workforce for economic development.

Population Miscellaneous

Armenia's Rural population is 1,029,293, which is significantly below the average of 18,044,041. Armenia ranks 126th out of 190 countries in this category.

The percentage of the Rural population in Armenia stands at 36.687%, lower than the average of 41.158%. Armenia is ranked 103rd out of 190 countries in this metric.

Armenia's Urban population is 1,776,315, well below the average of 22,425,747. Armenia ranks 134th out of 194 countries in Urban population.

The Urban population (% of total population) in Armenia is 63.313%, above the average of 59.691%. Armenia is ranked 92nd out of 194 countries in this aspect.

Armenia's Age dependency ratio (% of working-age population) is 48.702%, lower than the average of 59.219%. The country ranks 145th out of 194 countries in this ratio.

Armenia's Birth rate is 12.455 per 1,000 people, below the average of 19.384. The country ranks 126th out of 192 nations in this measure.

The Death rate in Armenia is 12.792 per 1,000 people, higher than the average of 8.214. Armenia is ranked 16th out of 192 countries in Death rate.

Armenia's Fertility rate is 1.575 births per woman, below the average of 2.603. The country is ranked 143rd out of 190 countries in Fertility rate.

Summary

Armenia has a relatively low rural population and urban population compared to global averages, with a higher percentage of urban population compared to rural. The country also exhibits a lower age dependency ratio, birth rate, and fertility rate but a higher death rate compared to the global average. These indicators highlight Armenia's demographic profile, signaling potential challenges in terms of workforce sustainability, economic growth, and healthcare needs.

Military

Armenia's military expenditure of approximately $633.96 million USD is significantly below the average of $12.90 billion USD, ranking 79th out of 149 countries. This indicates Armenia allocates a relatively lower amount towards military expenses compared to other countries.

Armenia's military expenditure as a percentage of GDP is 4.98%, which is notably higher than the average of 1.90%. With a rank of 7 out of 148 countries, Armenia's focus on military spending in relation to its GDP surpasses that of many other nations.

The total number of armed forces personnel in Armenia is 47,000, significantly lower than the average of 165,908 individuals. This places Armenia 71st out of 164 countries in terms of the size of its armed forces, indicating a comparatively smaller military personnel presence.

Armenia's armed forces personnel as a percentage of the total labor force is 3.39%, above the average of 1.28%. With a rank of 13 out of 164 countries, Armenia's proportion of armed forces personnel within its labor force is relatively higher compared to the average.

Summary

In summary, Armenia spends a lower amount on military expenses compared to other countries, with a notably higher percentage of GDP allocated towards military expenditure. Despite having a smaller number of armed forces personnel compared to the global average, Armenia has a relatively higher proportion of military personnel within its labor force.

These findings are important as they shed light on Armenia's strategic priorities and resource allocation. The higher percentage of GDP dedicated to military spending suggests a significant emphasis on defense and security within the country. Additionally, the above-average proportion of armed forces personnel within the labor force may indicate a focus on national defense as well as potential impacts on the civilian workforce and economy.

Natural Resources

Armenia has a forest area of 3284.7 sq. km, which is significantly below the average forest area of 211606.1 sq. km. The country is ranked 145th out of 191 countries in this attribute.

Armenia's land area is 28470 sq. km, much lower than the average land area of 665166.5 sq. km. It ranks 137th out of 194 countries in terms of land area.

The surface area of Armenia is 29740 sq. km, well below the average surface area of 689779.6 sq. km. Armenia ranks 138th out of 194 countries in this attribute.

Armenia has an arable land area of 444000 hectares, which is below the average arable land area of 7329543.2 hectares. The country ranks 126th out of 190 countries in arable land.

The land under cereal production in Armenia is 117720 hectares, significantly lower than the average of 4206011.6 hectares. Armenia ranks 132nd out of 174 countries in this attribute.

Armenia receives an average precipitation depth of 562 mm per year, which is below the average of 1157.8 mm per year. The country ranks 134th out of 178 countries in this attribute.

Armenia's renewable internal freshwater resources total 6.859 billion cubic meters, significantly lower than the average of 240.4 billion cubic meters. The country ranks 132nd out of 178 countries in this attribute.

Summary

Armenia exhibits below-average values in key macroeconomic indicators such as forest area, land area, surface area, arable land area, land under cereal production, precipitation depth, and renewable internal freshwater resources. These statistics highlight Armenia's limited natural resources and agricultural potential compared to global averages. This could impact the country's agricultural productivity, environmental sustainability, and overall economic development, necessitating strategic resource management and potentially diversifying economic sectors for long-term growth and resilience.

Resource Rents

Armenia's total natural resources rents account for 2.42% of its GDP, which is below the average of 4.63%. This places Armenia at the 79th rank out of 175 countries in the dataset.

Coal rents in Armenia make up a minimal 0.0000015% of its GDP, significantly lower than the average of 0.40%. Armenia is ranked 65th out of 65 countries for this indicator.

Armenia's forest rents contribute 0.27% to its GDP, falling short of the average of 1.53%. With this figure, Armenia ranks 86th out of 174 countries.

The mineral rents in Armenia represent 2.15% of its GDP, surpassing the average of 1.23%. Armenia holds the 18th position out of 86 countries in terms of mineral rents.

Summary

Armenia's total natural resources rents, coal rents, forest rents, and mineral rents as a percentage of GDP indicate that the country has below-average natural resource contributions to its economy compared to the global average. While Armenia surpasses the global average in mineral rents, it lags behind in total natural resources, coal, and forest rents. These findings are crucial as they highlight Armenia's reliance on specific natural resources for economic growth and development, emphasizing potential vulnerabilities and areas for diversification and sustainable resource management.

Commodities

Armenia's cereal production of 242,010.7 metric tons is significantly below the average of 17,249,945.93 metric tons, ranking 132 out of 174 countries. In aquaculture production, Armenia's output of 18,350 metric tons is well below the average of 679,642.92 metric tons, placing Armenia at rank 66 out of 180 countries. The capture fisheries production in Armenia is 750.01 metric tons, much lower than the average of 467,453.06 metric tons, ranking Armenia 174 out of 190 countries. Armenia's total fisheries production of 19,100.01 metric tons also falls short of the average of 1,153,914.85 metric tons, positioning Armenia at rank 129 out of 182 countries. Additionally, Armenia's fertilizer consumption stands at 203.47 kilograms per hectare of arable land, above the average of 159.04 kilograms, and ranks 41 out of 187 countries.

Summary

Armenia's agricultural sector faces challenges with below-average production levels in cereals, aquaculture, capture fisheries, and total fisheries production compared to global averages. However, the country shows a higher-than-average fertilizer consumption rate per hectare of arable land. These statistics are crucial as they provide insights into Armenia's food security, economic development, and sustainability efforts in the agricultural sector.

Intellectual Property

Armenia has 377 industrial design applications by nonresidents, which is below the attribute average of 1415.83. This places Armenia at rank 50 out of 112 countries in the dataset.

For industrial design applications by residents, Armenia has 30 applications, significantly below the average of 9799.58. This puts Armenia at rank 88 out of 113 countries.

In terms of patent applications by nonresidents, Armenia submitted 7 applications, below the average of 6538.40. Armenia is ranked 105 out of 129 countries in this aspect.

Armenia's 63 patent applications by residents are well below the average of 19037.56, placing Armenia at rank 76 out of 117 countries.

Regarding trademark applications by nonresidents, Armenia filed 7677 applications, lower than the average of 15878.93, earning a rank of 51 out of 130 countries.

For trademark applications by residents, Armenia submitted 3469 applications, significantly below the average of 111055.78. Armenia ranks 72 out of 129 countries in this category.

Armenia has 599.38 scientific and technical journal articles, far below the average of 15103.76, placing Armenia at rank 92 out of 192 countries.

Summary

Armenia ranks below average in various key macroeconomic indicators such as industrial design applications, patent applications, trademark applications, and scientific journal articles. These statistics suggest a lower level of innovation and intellectual property activity compared to global averages, which could impact Armenia's competitiveness, technological advancement, and potential for economic growth in the long run.

Broad Economy Attributes

Armenia's GDP (current US$) is $12.64 billion, which is significantly below the average of $442.87 billion, ranking 130th out of 189 countries. In terms of GDP, PPP (current international $), Armenia's value is $39.58 billion, much lower than the average of $734.14 billion, placing it at the 114th rank out of 181 countries.

Armenia's GDP per capita (current US$) is $4,505.87, below the average of $15,462.11, and ranked 108th out of 190 countries. When considering GDP per capita, PPP (current international $), Armenia's value is $14,105.91, lower than the average of $21,251.89, positioning it at the 89th rank out of 181 countries.

For GNI (current US$), Armenia has a value of $12.45 billion, much lower than the average of $452.04 billion, and ranks 127th out of 185 countries. In terms of GNI, PPP (current international $), Armenia's value is $38.96 billion, significantly below the average of $730.70 billion, placing it at the 113th rank out of 181 countries.

Lastly, Armenia's GNI per capita, PPP (current international $) stands at $13,890, which is lower than the average of $20,615.75, and ranks 87th out of 181 countries.

Summary

Armenia's key macroeconomic indicators, including GDP, GDP per capita, GNI, and GNI per capita, are below global averages and rank relatively low compared to other countries. These statistics indicate that Armenia's economy is smaller and less developed compared to many nations worldwide. Such insights are crucial for policymakers, investors, and international organizations as they highlight areas where Armenia may need support in terms of economic growth, development, and potential investment opportunities.

Broad Value Added

The Gross value added at basic prices (GVA) in current US$ for Armenia is 11263499420.5698, significantly below the average of 360070943595.1235, ranking 127 out of 176 countries.

Armenia's Agriculture, forestry, and fishing value added (% of GDP) is 11.35%, slightly above the average of 10.86%, ranking 66 out of 182 countries.

In terms of Agriculture, forestry, and fishing value added in current US$, Armenia's value is 1434808157.53483, much lower than the average of 19924732828.066864, ranking 117 out of 182 countries.

The Services value added (% of GDP) for Armenia is 53.24%, below the average of 56.72%, ranking 115 out of 183 countries.

Armenia's Services value added in current US$ is 6730592379.71801, well below the average of 295837711130.6942, ranking 126 out of 183 countries.

Lastly, Armenia's Industry value added in current US$ stands at 3390161690.30181, significantly lower than the average of 118421095413.5021, placing Armenia at the 120th rank out of 183 countries.

Summary

Armenia's economy faces challenges with below-average Gross Value Added, Agriculture, Forestry, and Fishing Value Added, Services Value Added, and Industry Value Added compared to global averages, ranking relatively low in these categories among countries worldwide. This indicates a need for increased economic diversification, productivity enhancement, and structural reforms to boost economic growth, improve competitiveness, and elevate Armenia's position in the global economy.

Manufacturing Value Added

Armenia's Manufacturing, value added stands at $1,560,628,287.50 which is significantly below the attribute average of $76,207,179,589.66. The country ranks 110 out of 173 countries in this attribute.

Armenia's Manufacturing, value added (% of GDP) is 12.34%, slightly above the attribute average of 11.90%. The country holds the 78th rank out of 173 countries.

Armenia's Medium and high-tech manufacturing value added (% manufacturing value added) is at 8.31%, much lower than the attribute average of 24.49%. Armenia is ranked 120 out of 149 countries in this aspect.

Armenia's Chemicals (% of value added in manufacturing) is 3.53%, below the attribute average of 11.56%. The country ranks 82 out of 89 countries present in the data.

Armenia's Food, beverages and tobacco (% of value added in manufacturing) is 57.17%, significantly higher than the attribute average of 24.51%. Armenia ranks 5 out of 92 countries in this category.

Armenia's Machinery and transport equipment (% of value added in manufacturing) is 2.86%, well below the average of 16.85%. The country holds the 81st rank out of 93 countries.

Armenia's Textiles and clothing (% of value added in manufacturing) stands at 3.44%, lower than the attribute average of 6.33%. Armenia ranks 42 out of 93 countries.

Armenia's Other manufacturing (% of value added in manufacturing) is at 32.99%, below the average of 42.13%. The country ranks 72 out of 94 countries included in the dataset.

Summary

Armenia's manufacturing sector exhibits a mixed performance with strengths in Food, beverages, and tobacco production but weaknesses in Medium and high-tech manufacturing and Machinery and transport equipment. This indicates a heavy reliance on traditional industries and a potential need for diversification and technological advancement to enhance competitiveness and sustainability in the global market.

Money

Armenia's consumer price inflation rate is 1.21%, significantly lower than the average of 8.26%. This places Armenia at rank 103 out of 165 countries in terms of inflation rate.

The GDP deflator inflation rate in Armenia is 1.81%, below the average of 6.90%. Armenia ranks 99th out of 188 countries in this regard.

Armenia's broad money growth rate stands at 8.96%, below the average of 18.03%. This places Armenia at rank 103 out of 139 countries for broad money growth.

Broad money as a percentage of GDP in Armenia is 54.39%, below the average of 71.75%. Armenia ranks 85th out of 139 countries in terms of broad money to GDP ratio.

Armenia's broad money to total reserves ratio is 2.63, below the average of 5.17. The country ranks 69th out of 126 countries in this aspect.

Summary

Armenia exhibits lower-than-average figures across key macroeconomic indicators such as consumer price inflation rate, GDP deflator inflation rate, broad money growth rate, broad money as a percentage of GDP, and broad money to total reserves ratio. These statistics suggest that Armenia's economy is relatively stable compared to many other countries, with moderate inflation rates and conservative monetary policies. Despite ranking lower in these indicators, Armenia's consistent performance indicates prudent financial management and potential for steady economic development.

Consumption Expenditure

Final consumption expenditure (current US$): Armenia's value is significantly below the attribute average of $381,630,252,515.38, ranking 117 out of 159 countries.

Final consumption expenditure (% of GDP): Armenia's value of 90.3% is above the attribute average of 82.37%, positioning it at rank 43 out of 159 countries.

General government final consumption expenditure (current US$): Armenia's value is notably lower than the average of $93,676,578,238.03, placing it at rank 121 out of 158 countries.

General government final consumption expenditure (% of GDP): Armenia's value is below the attribute average of 18.71%, standing at rank 106 out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): Armenia's value is significantly less than the average of $290,127,571,157.69, ranking 115 out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Armenia's value of 75.33% surpasses the attribute average of 63.68%, placing it at rank 36 out of 158 countries.

Summary

Armenia's final consumption expenditure, both in current US dollars and as a percentage of GDP, is generally below the global average, indicating a relatively lower level of economic activity and spending compared to other countries in the dataset. However, Armenia's household and NPISHs final consumption expenditure as a percentage of GDP stands out as notably higher than the average, suggesting a relatively higher level of domestic consumption and potentially indicating stronger economic stability driven by household spending.

These findings are crucial as they provide insights into Armenia's economic structure and the balance between government, household, and overall consumption within the economy. The data highlights areas where Armenia may need to focus its policy efforts to boost overall consumption and economic growth, such as increasing general government final consumption expenditure to stimulate the economy and potentially improve its global ranking in consumption indicators.

Equities

Armenia has 11 listed domestic companies, which is well below the attribute average of 636.625. This places Armenia at rank 69 out of 72 countries in terms of listed domestic companies.

The market capitalization of listed domestic companies in Armenia is $26,950,000, significantly lower than the attribute average of $1,196,037,851,618.88. Armenia ranks 73 out of 73 countries in this metric.

Armenia's market capitalization of listed domestic companies as a percentage of GDP is 0.21%, notably lower than the average of 71.24%. Armenia ranks 73 out of 73 countries in this category as well.

Summary

Armenia's economic landscape presents a stark contrast to global averages in terms of listed domestic companies, market capitalization, and market capitalization as a percentage of GDP. With significantly fewer listed companies, a much lower market capitalization, and a minute share of market capitalization compared to GDP, Armenia's financial market may lack depth and diversity. This could limit opportunities for domestic investors, hinder capital formation, and potentially restrict economic growth and competitiveness in the global market.

Investment

Armenia's net foreign direct investment (BoP, current US$) stands at -85,861,619.24, significantly below the average of -1,615,235,980.51. This places Armenia at rank 59 out of 169 countries in the dataset.

Regarding foreign direct investment, net inflows (BoP, current US$), Armenia received $58,582,750.12 which is lower than the average of $5,749,271,080.15, placing Armenia at rank 134 out of 182 countries.

Armenia's foreign direct investment, net inflows (% of GDP) is 0.46%, well below the average of 2.61%. This places Armenia at rank 139 out of 178 countries.

Armenia's net foreign direct investment outflows amount to -27,278,869.12, below the average of $5,707,991,116.07, ranking it at 129 out of 156 countries.

In terms of foreign direct investment outflows (% of GDP), Armenia's value is -0.22%, which is lower than the average of 1.00%. Armenia ranks 127 out of 155 countries.

Armenia's net portfolio investment (BoP, current US$) is $43,674,072.51, below the average of $679,559,169.57, placing Armenia at rank 66 out of 159 countries.

Armenia's portfolio investment in bonds (PPG + PNG) (NFL, current US$) is $202,343,000, significantly lower than the average of $4,134,263,915.25. Armenia ranks 31 out of 59 countries for this attribute.

Armenia's portfolio equity net inflows amount to $593,323.51, clearly below the average of $9,197,145,994.70. Armenia ranks 58 out of 125 countries in this regard.

Summary

Armenia's foreign direct investment metrics, both in terms of inflows and outflows, are notably below global averages, placing the country at lower ranks compared to its peers. This suggests a limited level of foreign investment activity in Armenia's economy, which could impact its ability to attract capital, promote growth, and diversify its financial resources.

Debt

Armenia's total debt service is 15.8% of its GNI, which is significantly higher than the average of 6%. This places Armenia at rank 10 out of 120 countries.

Armenia's public and publicly guaranteed debt service is 3.9% of its GNI, slightly above the average of 2.8%. Armenia ranks 33 out of 120 countries in this aspect.

Armenia's external debt stocks are 101.2% of its GNI, much higher than the average of 65.4%. This places Armenia at rank 19 out of 120 countries.

Armenia's total debt service on external debt is $1,965,964,874.6, below the average of $9,811,198,339.2. Armenia ranks 49 out of 123 countries in this metric.

Armenia's debt service on public and publicly guaranteed external debt is $480,352,186.8, below the average of $3,310,612,057.6. Armenia ranks 65 out of 123 countries in this aspect.

Armenia's external debt stocks that are public and publicly guaranteed amount to $5,616,375,232.8, significantly below the average of $28,695,879,144.9. Armenia ranks 66 out of 123 countries in this category.

Armenia's external debt stocks that are private nonguaranteed stand at $4,735,226,000, also below the average of $33,734,699,285.2. Armenia holds rank 49 out of 91 countries in this metric.

Armenia's total external debt stocks amount to $12,599,980,395.5, well below the average of $73,845,530,111.8. Armenia ranks 64 out of 123 countries in this particular attribute.

Summary

Armenia shows a mixed picture in terms of its debt indicators, with higher total debt service, external debt stocks, and debt service on external debt compared to global averages but lower values for public and publicly guaranteed debt metrics. While ranking lower in certain aspects like total debt service on external debt, Armenia's relatively lower external debt stocks position it better compared to the global average. These indicators are crucial as they provide insights into Armenia's financial obligations, its ability to meet debt repayments, and its overall financial stability in the international arena.

Broad Trade Attributes

Armenia's Trade (% of GDP) is 69.49%, below the average of 82.34%. This ranks Armenia 78th out of 163 countries in the dataset.

In terms of Merchandise trade (% of GDP), Armenia's value of 56.19% is below the average of 60.01%, placing it also at 78th out of 186 countries.

Armenia's Trade in services (% of GDP) stands at 16.46%, lower than the average of 24.63%. This ranks Armenia 82nd out of 171 countries.

Regarding External balance on goods and services (current US$), Armenia has a value of -1258965739.92, significantly below the average of 3405509011.13. This places Armenia at the 108th position out of 163 countries.

Armenia's External balance on goods and services (% of GDP) is -9.96%, below the average of -5.97%. This places Armenia at 116th out of 163 countries in the dataset.

Summary

Armenia's trade indicators, including Trade (% of GDP), Merchandise trade (% of GDP), and Trade in services (% of GDP), are all below global averages, positioning the country in the bottom half of rankings. Additionally, Armenia's negative External balance on goods and services, both in absolute terms and as a percentage of GDP, further highlights its trade deficit. These statistics are crucial as they indicate Armenia's limited international trade presence and the need for policies to boost exports, improve competitiveness, and address the trade imbalance to strengthen the country's economy.

Net Trade

Armenia's current account balance (BoP, current US$) is significantly below the average, ranking 101 out of 170 countries. The focus country's current account balance (% of GDP) is also below average, ranking 114 out of 170 countries. Armenia's net trade in goods and services (BoP, current US$) is notably below the average, ranking 111 out of 171 countries. Armenia's net primary income (BoP, current US$) is above average, ranking 69 out of 170 countries. The focus country's net secondary income (BoP, current US$) is well above the average, ranking 60 out of 170 countries. Armenia's net trade in goods (BoP, current US$) is significantly below the average, ranking 105 out of 171 countries. The country's net capital account (BoP, current US$) is slightly above average, ranking 50 out of 159 countries. Finally, Armenia's net financial account (BoP, current US$) is below average, ranking 106 out of 170 countries.

Summary

Armenia's current account balance, net trade in goods and services, and net trade in goods are all significantly below average compared to other countries. However, Armenia's net primary income and net secondary income are above average. The country's net capital account is slightly above average, while the net financial account is below average. These statistics are important as they indicate Armenia's reliance on income from abroad and its challenges in maintaining a favorable trade balance, which could impact its economic stability and growth prospects.

Broad Export Attributes

Armenia's Exports of goods, services and primary income amount to $4,278,309,133.75, ranking 120th out of 170 countries. This value is significantly below the average of $146,238,908,936.30 for this attribute.

Armenia's Exports of goods and services total $3,818,190,454.90, placing it at the 118th position out of 170 countries. This figure is notably lower than the average of $122,938,540,059.78.

Armenia's Exports of goods and services (current US$) is $3,762,799,929.15, ranking 115th out of 163 countries. This value falls well below the average of $129,596,864,610.19 for this attribute.

Armenia's Exports of goods and services (% of GDP) stand at 29.76%, positioning it at 82nd out of 163 countries. This percentage is lower than the average of 38.19% for this attribute.

Armenia's Goods exports amount to $2,718,848,499.95, placing it at the 120th position out of 171 countries. This figure is considerably below the average of $93,310,581,697.39.

Armenia's International tourism receipts account for 7.94% of total exports, ranking 38th out of 120 countries. This percentage is below the average of 9.74% for this attribute.

Armenia's ICT goods exports account for 0.43% of total goods exports. This places Armenia at the 80th position out of 142 countries, with its value significantly lower than the average of 3.81% for this attribute.

Summary

Armenia's export performance across various indicators places it below the global average in terms of absolute values and percentages. The country ranks lower than average in exports of goods, services, and primary income as well as goods exports, international tourism receipts, and ICT goods exports. These statistics indicate that Armenia may face challenges in diversifying its exports, expanding its market reach, and maximizing the potential of key sectors such as tourism and ICT. Addressing these issues is crucial for Armenia's economic growth, resilience, and competitiveness in the global market.

Merchandise Exports

Armenia's merchandise exports amount to $2.54 billion, ranking 130th out of 187 countries. This value is significantly below the average merchandise exports of $89.54 billion.

The percentage of agricultural raw materials exports in Armenia is 0.33%, lower than the average of 2.97%. Armenia ranks 120th out of 151 countries in this aspect.

Armenia's food exports constitute 31.75% of its merchandise exports, higher than the average of 24.06%. Armenia ranks 39th out of 152 countries in this category.

Armenia's fuel exports, at 3.00% of merchandise exports, are well below the average of 13.70%. The country holds the 77th rank out of 147 countries in this area.

Ores and metals exports make up 36.82% of Armenia's merchandise exports, significantly exceeding the average of 9.10%. Armenia ranks 12th out of 152 countries in this segment.

Armenia's residual merchandise exports stand at 0.17% of total exports, much lower than the average of 3.20%. The country ranks 98th out of 166 nations in this category.

Summary

Armenia's export composition deviates from global averages in key sectors. The country excels in ores and metals exports, exceeding the average significantly, while lagging behind in fuel exports. These findings are crucial as they highlight Armenia's specialized export strengths and potential areas for diversification to enhance trade balance and economic resilience.

Technology Exports

- Manufactures exports (% of merchandise exports): In Armenia, the value is 16.99% which is significantly below the average of 42.62%. Armenia ranks 105 out of 152 countries for this attribute.
- High-technology exports (current US$): Armenia's export value stands at $26,514,439, notably lower than the average of $16,655,934,078.80. Armenia ranks 99 out of 151 countries for this metric.
- High-technology exports (% of manufactured exports): Armenia's percentage is 7.14%, lower than the average of 10.15%. The country ranks 70 out of 150 nations in this aspect.
- Medium and high-tech exports (% manufactured exports): With a value of 11.91%, Armenia falls short of the average of 34.29%. The country holds the 114th position out of 149 countries in this category.

Summary

Armenia exhibits lower than average values in key macroeconomic indicators related to exports of manufactured goods and high-technology products, placing the country below global averages and rankings. These statistics are crucial as they indicate Armenia's level of technological advancement, competitiveness in global markets, and potential for economic diversification. Addressing these weaknesses could help Armenia enhance its export capabilities, foster economic growth, and improve its standing in the global marketplace.

Service Exports

1. Service exports (BoP, current US$): Armenia's service exports amount to $1.1 billion, significantly below the average of $28.9 billion. Armenia ranks 106 out of 171 countries in this attribute.

2. ICT service exports (BoP, current US$): Armenia's ICT service exports stand at $328.5 million, well below the average of $4.6 billion. Armenia ranks 70 out of 166 countries for this statistic.

3. ICT service exports (% of service exports, BoP): Armenia's ICT service exports account for 29.88% of its total service exports, which is much higher than the average of 11.75%. Armenia ranks 14 out of 166 countries in this aspect.

4. Communications, computer, etc. (% of service exports, BoP): Armenia's percentage in this area is 48.38%, slightly higher than the average of 45.85%. Armenia holds the 84th rank out of 169 countries.

5. Transport services (% of service exports, BoP): Armenia's transport services constitute 21.14% of its total service exports, slightly below the average of 21.80%. The country ranks 70 out of 169 nations for this metric.

6. Travel services (% of service exports, BoP): Armenia's travel services contribute 26.14% to its total service exports, slightly below the average of 26.40%. Armenia is ranked 65 out of 167 countries based on this criterion.

7. Insurance and financial services (% of service exports, BoP): Armenia's insurance and financial services represent 4.35% of its total service exports, lower than the average of 6.46%. The country ranks 71 out of 161 nations in this category.

Summary

Armenia exhibits strengths in ICT service exports, with a higher percentage compared to its total service exports compared to the global average. However, the country's overall service exports are significantly below average, impacting its ranking in various service export categories. The data highlights Armenia's potential for growth and diversification in its export sector, particularly in ICT services, which could drive economic development and international competitiveness.

Commercial Service Exports

Armenia's Commercial service exports amount to $1,066,130,153.29, significantly below the attribute average of $28,508,218,402.80. Armenia ranks 105th out of 171 countries in this category.

Travel services contribute 26.95% to Armenia's commercial service exports, slightly below the average of 27.89%. Armenia ranks 68th out of 167 countries for this statistic.

Armenia's Computer, communications, and other services contribute 46.77% to commercial service exports, surpassing the average of 42.44%. Armenia ranks 79th out of 169 countries in this aspect.

Insurance and financial services account for 4.48% of Armenia's commercial service exports, falling below the average of 6.97%. Armenia ranks 73rd out of 161 countries in this category.

Transport services amount to 21.80% of Armenia's commercial service exports, slightly below the average of 23.37%. Armenia ranks 73rd out of 169 countries for this statistic.

Summary

Armenia's commercial service exports fall below the global average, with key contributions from travel services, computer, communications, and other services. However, the country lags behind in insurance and financial services as well as transport services. These indicators are crucial as they reflect Armenia's strengths and weaknesses in leveraging its service sector for international trade, highlighting areas for potential growth and improvement to enhance its overall economic performance and competitiveness on the global stage.

Broad Import Attributes

Armenia's imports of goods and services (current US$) amount to 5.02 billion, significantly below the average of 126.19 billion, ranking 118 out of 163 countries.

Armenia's imports of goods and services (% of GDP) stand at 39.72%, slightly below the average of 44.15%, ranking 73 out of 163 countries.

Armenia's international tourism expenditures (% of total imports) are relatively high at 6.49%, surpassing the average of 3.98%, and ranking 18 out of 131 countries.

Armenia's ICT goods imports (% total goods imports) are at 4.92%, lower than the average of 6.85%, and rank 77 out of 143 countries.

The country's goods imports (BoP, current US$) total 4.10 billion, significantly below the average of 92.01 billion, ranking 120 out of 171 countries.

Armenia's imports of goods and services (BoP, current US$) amount to 5.08 billion, significantly below the average of 120.32 billion, ranking 123 out of 170 countries.

Armenia's imports of goods, services, and primary income (BoP, current US$) total 5.74 billion, significantly below the average of 144.51 billion, ranking 123 out of 170 countries.

Summary

Armenia's import figures consistently fall below global averages across various categories, indicating a relatively lower level of economic integration and consumption compared to many other countries worldwide. Despite their lower ranking in terms of imports, the country's relatively high international tourism expenditures as a percentage of total imports suggest a significant reliance on tourism for economic growth and development.

These findings are crucial as they highlight Armenia's position in the global market and its economic dependencies. The lower import figures may indicate potential challenges in accessing a diverse range of goods and services, while the high international tourism expenditures underscore the importance of the tourism sector in driving economic activity and foreign exchange earnings for the country.

Merchandise Imports

Armenia's merchandise imports are $4.559 billion, which is significantly below the average of $89.39 billion, ranking 126th out of 190 countries.

Manufactures imports account for 61.36% of Armenia's merchandise imports, slightly below the average of 66.76%, placing it at 115th out of 152 countries.

Armenia's imports of agricultural raw materials constitute 1.05% of its merchandise imports, lower than the average of 1.27%, ranking 87th out of 152 countries.

Food imports in Armenia make up 18.20% of merchandise imports, higher than the average of 15.89%, placing Armenia 49th out of 152 countries.

Armenia's fuel imports represent 16.17% of its merchandise imports, above the average of 11.38%, ranking 29th out of 152 countries.

Armenia's imports of ores and metals constitute 2.26% of merchandise imports, slightly below the average of 2.57%, placing Armenia at 61st out of 152 countries.

The residual merchandise imports by Armenia stand at 1.99%, lower than the average of 2.51%, ranking 44th out of 180 countries.

Summary

Armenia's import profile shows a significant reliance on food and fuel imports, exceeding the global averages in these categories. However, Armenia falls below the average in the imports of manufactured goods, agricultural raw materials, ores/metals, and residual items. This signals a potential vulnerability in domestic manufacturing and resource sector development, which could impact the country's trade balance, industrial growth, and overall economic resilience.

Service Imports

Armenia's service imports amount to $981,294,695.06, ranking 124th out of 171 countries in the dataset. This value is significantly below the average service import value of $27,615,356,170.47.

Communications, computer, etc. account for 20.97% of Armenia's service imports, placing it at 149th out of 169 countries. This percentage is below the average of 44.40%.

Transport services compose 42.18% of Armenia's service imports, ranking 43rd out of 169 countries. This value is above the average of 32.90%.

Travel services make up 28.35% of Armenia's service imports, ranking 17th out of 169 countries. Armenia's value exceeds the average of 14.14%.

Insurance and financial services contribute 8.50% to Armenia's service imports, placing it at 67th out of 169 countries. This value is slightly below the average percentage of 8.53%.

Summary

In analyzing Armenia's key macroeconomic indicators related to service imports, we note that Armenia's total service imports are significantly below the global average. However, the composition of their service imports shows interesting trends: while they allocate a higher percentage towards transport services and travel services compared to the global average, they have a lower proportion allocated to communications, computer, etc. This information is crucial for understanding Armenia's economic priorities, trade patterns, and potential areas for development.

Commercial Service Imports

Armenia's Commercial service imports amount to $964,962,766.52, ranking 124th out of 171 countries. This value is significantly below the average of $27,102,746,128.60.

Computer, communications, and other services account for 19.63% of Armenia's commercial service imports, placing it at the 141st position out of 169 countries. This percentage is notably below the average of 41.71%.

Insurance and financial services make up 8.64% of Armenia's commercial service imports, ranking 67th out of 169 countries. Armenia's value is slightly below the average percentage of 8.85%.

Transport services constitute 42.90% of Armenia's commercial service imports, placing Armenia at the 49th position out of 169 countries. This percentage is above the average of 34.71%.

Travel services represent 28.83% of Armenia's commercial service imports, ranking Armenia 18th out of 169 countries. Armenia's value significantly exceeds the average of 14.73%.

Summary

Armenia's commercial service imports are relatively low compared to the global average. The country heavily relies on transport services and travel services for its commercial imports, both of which exceed the global average significantly. However, Armenia lags behind in computer, communications, and other services, which are crucial for modern economic activities.

These findings are important as they indicate Armenia's dependence on traditional sectors like transport and travel services, which may hinder its ability to adapt to the rapidly evolving global economy driven by digital and technology services. To enhance its economic competitiveness and resilience, Armenia may need to diversify its commercial service imports and invest more in the digital economy.

Infrastructure

Armenia's railways transport 840 million ton-km of goods, significantly below the average of 119,231.19 million ton-km, ranking 50 out of 62 countries in the dataset.

The country's air freight transport is at 0.11692 million ton-km, well below the average of 1,384.37 million ton-km, placing it at 116 out of 126 countries.

Armenia's air transport registers 705 carrier departures worldwide, far lower than the average of 134,365.61 departures, ranking 138 out of 149 countries.

With 54,940 passengers carried via air transport, Armenia falls short of the average of 11,848,242 passengers, placing it at 129 out of 149 countries.

The country's total rail lines span 698.4 route-km, significantly less than the average of 12,204.74 route-km, ranking 57 out of 66 countries.

Summary

Armenia lags behind global averages in key transportation indicators, such as railways transport, air freight transport, carrier departures, passengers carried via air transport, and total rail line length. These statistics point to a significant gap in infrastructure development compared to other countries worldwide. Improving transportation infrastructure is crucial for enhancing connectivity, facilitating trade, and driving economic growth in Armenia.

Information Technology Infrastructure

Armenia has 1,741 secure internet servers, which is significantly below the average of 458,294. Armenia ranks 104th out of 193 countries in this attribute.

With 620.54 secure internet servers per 1 million people, Armenia is well below the average of 14,067.17. The country ranks 87th out of 193 in this category.

76.51% of Armenia's population uses the internet, a figure higher than the average of 64.77%. Armenia ranks 79th out of 180 countries in this regard.

Armenia has 430,407 fixed broadband subscriptions, below the average of 6,591,956.35. It ranks 93rd out of 185 countries for this metric.

With 3,488,797 mobile cellular subscriptions, Armenia falls short of the average of 42,526,463.87 subscriptions. It ranks 133rd out of the 193 countries included in the data.

Summary

Armenia lags behind global averages in key internet and technology metrics, such as secure internet servers, internet users, and broadband subscriptions. This indicates a potential digital divide and underscores the importance of investing in improving internet infrastructure and accessibility to keep pace with international standards and foster economic development in an increasingly interconnected world.

Energy Consumption

Armenia's renewable energy consumption stands at 8.38% of total final energy consumption, below the average of 32.18%. The country ranks 152 out of 191 countries in this aspect.

Armenia's CO2 emissions total 6746.6 kt, significantly below the average of 171895.94 kt. In this category, Armenia ranks 121 out of 188 countries.

Summary

Armenia's renewable energy consumption is relatively low at 8.38% of total final energy consumption, placing the country below the global average of 32.18%. Additionally, Armenia's CO2 emissions are significantly lower than the average, totaling 6746.6 kt, with a ranking of 121 out of 188 countries. These indicators are crucial as they highlight Armenia's potential for further development in sustainable energy practices and environmental conservation, positioning the country favorably in combating climate change on a global scale.

Government Balance Sheet

Armenia's net acquisition of financial assets (% of GDP) is 0.5192, ranking 58 out of 87 countries. This is below the attribute average of 2.4498.

Armenia's central government debt, total (% of GDP) stands at 63.4012, positioning it at rank 33 out of 61 countries. This value is below the attribute average of 74.1161.

The net incurrence of liabilities, total (% of GDP) for Armenia is 5.7218, placing it at rank 56 out of 92 countries. This value is below the attribute average of 7.4311.

Armenia's total reserves (% of total external debt) are at 20.7582, ranking 79 out of 102 countries. This is significantly below the attribute average of 66.1254.

The reserves and related items (BoP, current US$) for Armenia are at -518635498.8984, positioning it at rank 130 out of 171 countries. This value is below the average for this attribute.

Armenia's total reserves minus gold (current US$) are 2615530571.2017, ranking 104 out of 161 countries. This value is below the attribute average.

The total reserves (includes gold, current US$) for Armenia amount to 2615530571.2017, placing it at rank 106 out of 161 countries. This value is below the attribute average.

Armenia's total reserves in months of imports is 5.4693, positioning it at rank 78 out of 151 countries. This value is below the attribute average of 7.0969.

Summary

Armenia's macroeconomic indicators reveal a mixed picture: while the country performs below average in key areas such as net acquisition of financial assets, central government debt, and total reserves, it also surpasses the average in certain aspects like net incurrence of liabilities and total reserves minus gold. These statistics are crucial as they highlight Armenia's financial stability, its ability to manage debt levels, and the adequacy of its foreign exchange reserves, which are vital for economic resilience and sustainable growth.

Government Revenue

Armenia's Revenue, excluding grants (% of GDP) is 24.14%, which is slightly below the average of 27.02%. Armenia ranks 67 out of 122 countries in this attribute.

For Grants and other revenue (% of revenue), Armenia's value of 12.69% is significantly below the average of 23.54%. Armenia ranks 72 out of 108 countries in this attribute.

Armenia's Taxes on goods and services (% of revenue) stand at 46.50%, notably above the average of 31.82%. Armenia ranks high at 13 out of 122 countries in this category.

Regarding Taxes on international trade (% of revenue), Armenia's value of 4.41% is below the average of 6.24%. Armenia ranks 45 out of 101 countries in this attribute.

Armenia's Other taxes (% of revenue) are just 0.22%, significantly lower than the average of 2.12%. Armenia ranks 80 out of 106 countries in this metric.

Armenia's Taxes on income, profits and capital gains (% of revenue) are at 36.18%, notably higher than the average of 24.66%. Armenia ranks 20 out of 119 countries in this particular attribute.

Summary

Armenia's macroeconomic indicators show that the country relies heavily on taxes on goods and services, with a high percentage of 46.50%, ranking it at 13 out of 122 countries. Conversely, Armenia has a low reliance on grants and other revenue at 12.69%, ranking it at 72 out of 108 countries. These indicators are crucial as they reflect Armenia's fiscal health and its ability to generate revenue domestically through taxation rather than relying on external sources like grants.

Taxes

Armenia's tax revenue as a percentage of GDP is 21.86%, which is above the average of 16.72%. This places Armenia at rank 29 out of 123 countries in the dataset.

The percentage of customs and other import duties compared to tax revenue in Armenia is 5.05%, below the average of 9.01%. Consequently, Armenia ranks 51 out of 99 countries in this aspect.

Armenia's taxes on income, profits, and capital gains as a percentage of total taxes stand at 41.44%, exceeding the average of 38.40%. This places Armenia at rank 45 out of 120 countries included in the data.

The applied weighted mean tariff rate on all products in Armenia is 3.11%, below the average rate of 5.21%. Consequently, Armenia ranks 83 out of 153 countries in this category.

Summary

Armenia performs well in terms of tax revenue as a percentage of GDP, ranking above the global average at 21.86% and securing the 29th position out of 123 countries. However, the country lags in the percentage of customs and import duties compared to tax revenue and the weighted mean tariff rate on products, ranking 51st out of 99 countries and 83rd out of 153 countries respectively. These indicators are crucial as they reflect Armenia's fiscal policies, trade openness, and competitiveness in the global market, impacting its economic stability and investment attractiveness.

Government Expenses

Armenia's Expense (% of GDP) stands at 26.58%, which is below the average of 31.69%. The country ranks 75th out of 123 countries in this attribute.

Armenia's Compensation of employees (% of expense) is at 19.21%, below the average of 24.70%. It ranks 74th out of 123 countries in this category.

In terms of Goods and services expense (% of expense), Armenia's 11.56% is below the average of 14.77%. The country ranks 62nd out of 122 countries.

Armenia's Interest payments (% of expense) are relatively high at 10.03%, surpassing the average of 6.85%. It holds the 27th rank out of 121 countries.

Armenia's Other expense (% of expense) is notably high at 18.08%, significantly above the average of 8.29%. The country holds the 13th rank out of 120 countries.

Armenia's Subsidies and other transfers (% of expense) is at 41.13%, below the average of 43.29%. The country is ranked 64th out of 121 countries in this category.

Summary

Armenia's expense (% of GDP) is below the average, while its interest payments (% of expense) are notably high and surpass the average. The country also has high other expenses (% of expense) compared to the average. These indicators suggest that Armenia may need to reevaluate its spending priorities to ensure sustainable economic development and efficient resource allocation.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Death rate, crude (per 1,000 people)	16/192
Military expenditure (% of GDP)	7/148
Armed forces personnel (% of total labor force)	13/164
Food, beverages and tobacco (% of value added in manufacturing)	5/92
Total debt service (% of GNI)	10/120
Ores and metals exports (% of merchandise exports)	12/152
ICT service exports (% of service exports, BoP)	14/166

Ranks in Bottom Decile For:

Attribute	Rank/Total
Coal rents (% of GDP)	65/65
Capture fisheries production (metric tons)	174/190
Chemicals (% of value added in manufacturing)	82/89
Listed domestic companies, total	69/72
Market capitalization of listed domestic companies (current US$)	73/73
Market capitalization of listed domestic companies (% of GDP)	73/73
Air transport, freight (million ton-km)	116/126
Air transport, registered carrier departures worldwide	138/149