Armenia’s GDP Up 5.2% to 2.1 Trillion Drams in Q1 – Official Statistics

YEREVAN — Armenia’s gross domestic product (GDP) in the first quarter of 2025 recorded a 5.2% growth compared to January-March 2024, according to the National Statistical Committee (NSC).

In nominal terms, the GDP in current prices amounted to 2,117,693.4 million drams at the end of the reporting period. GDP per capita in market prices amounted to 687,853 drams (1,740 US dollars or 1,653 euros).

Financial and insurance activities saw the largest growth of 27.5% compared to the same quarter of 2024. They were followed by information and communication sector with 16.2% and construction sector with 14% rise.

Other areas that showed growth compared to the first quarter of last year include electricity, gas, steam and air supplies – 9.7%, agriculture, forestry and fishing – 8.1%, professional, scientific and technical activities – 8.1%, education – 7.6%, real estate related activities – 7, 2%, public administration and protection, compulsory social security – 6.6%, health care and social services – 6.2%, wholesale and retail trade, repair of motor vehicles and motorcycles – 5.6%, culture, entertainment and recreation – 5%, organization of accommodation and catering – 4%, as well as administration and related activities – 3.8%.

Decline was reported by the manufacturing industry – 21.1%, transportation and warehousing – 17.5%, mining and operation of open-pit mines – 10.5%, as well as water supply and drainage, management and waste treatment – 0.1%.

Armenia’s economic growth in the state budget for 2025 is envisioned at 5.1%, and inflation is envisioned at 3% (±1.5%).

According to preliminary statistical data, Armenia’s economic activity in January-March 2025 grew by 4.1% compared to the first quarter of 2024. Inflation in April amounted to 3.2% yoy.

According to the Central Bank’s monetary policy report for the first quarter of this year, by the end of 2025, Armenia’s GDP growth is expected to be within 7-4.8%, while inflation is expected to be within 2.6-2.4%.