Armenia

Armenia's economy is 15.3 times its 2000 size, having grown from US$1.9 billion to US$29.2 billion in 2025 and climbed from 146th to 117th. Momentum held up last year: real growth reached +7.2%, and US$ GDP rose 12.7%, with the gap mostly exchange-rate and price effects. Even so, Armenia slipped 1 place, sitting between Mali and Zambia.

Services make up 61.3% of output and industry 23.1%, with manufacturing at 11.0% of GDP and agriculture at 7.9%. Inflation was 3.3%, while unemployment was 12.9% of the labor force. Government gross debt stands at 46.9% of GDP, according to the IMF.

With a population of 3.1 million, GDP per capita is US$9,474, 92nd of 196, and $24,754 international dollars in PPP terms, 87th. The economy is about the size of the Killeen, TX metro area. The IMF projects GDP of US$41.2 billion by 2030, up 41%, which would place Armenia 115th. Yerevan is the capital.