• Armenia

    Armenia

    DEVELOPMENT CHALLENGES

    Armenia has pursued market-oriented reforms and a macroeconomic stability framework after gaining independence in 1991. The country experienced rapid and steady growth during the 2000s, with an average annual GDP growth rate of 10%, the highest in the CIS region. Armenia’s per capita GNI in 2010 was at the “lower-middle” income level (US$3,090), and the Human Development Index (HDI) was valued at a “high” 0.716, placing the country in 86th position of 187 countries. However, Armenia was severely affected by the financial crisis, registering a sharp decline in GDP of 14.4%. Various development challenges affect the country.

    • Poverty and inequality
    • High unemployment, labour migration, and heavy reliance on remittances
    • Weak public administration and a large informal sector
    • Skills gap

    KEY TRADE ISSUES

    • Export concentration, weak competitiveness, low productive capacity and trade deficit
    • Market concentration
    • Limited access to finance
    • Cumbersome regulatory and business environment
    • Underdeveloped physical infrastructure
    • Underdeveloped institutional and quality management infrastructure

    GOVERNMENT PRIORITIES

    The development priorities of the Armenian Government are defined in its Sustainable Development Programme. These priorities are to:

    • Ensure sustainable and rapid economic growth and reduction of territorial differences of poverty levels through the development and implementation of a territorial development policy;
    • Implement the targeted social and income policies aimed at the active and vulnerable (including the poor) social groups;
    • Modernize the country’s administration system, including the increase of the efficiency of the public governance and provision of the advanced growth of the resources package at the disposal of the country; and
    • Tackle such crucial issues as environmental protection and effective management of natural resources.

    More detailed information on Armenia can be found here.

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.