Armenia's GDP grows 5.9% in 2024

PanARMENIAN.Net - Armenia's Gross Domestic Product (GDP) experienced a 5.9% growth in 2024, as reported by the Statistical Committee. The primary contributors to this growth were trade and services, including the financial and IT sectors, accounting for 5.23% of the increase. Construction contributed 0.94%, industry 0.52%, and agriculture a modest 0.08%.

In absolute terms, the GDP for 2024 amounted to approximately 10 trillion 127.2 billion drams, according to Sputnik Armenia.

The Eurasian Economic Union (EAEU) reported an economic growth rate of 4% for 2024.

Per capita GDP in Armenia for 2024 was 3.3 million drams, up from 3.1 million drams in 2023.

According to the World Bank's classification, this level corresponds to the group of upper-middle-income countries. The lower threshold for this category is $4,516 (1.7 million drams), and the upper threshold is $14,005 (5.4 million drams).