Contexto econômico da Armênia

Main Sectors of Industry

Armenia's economy is diversified, encompassing agriculture, mineral exploitation, hydroelectricity, telecommunications, jewelry, and tourism. Agriculture accounts for 10.4% of GDP and engages 52% of the total workforce (World Bank, latest data available). Main crops include potatoes, tomatoes, grapes, wheat, melons, cotton, and tobacco. The livestock sector represents almost 40% of the country’s gross agricultural product. Armenia faces challenges due to limited arable land cultivation, fragmented plots, and low growth potential attributed to political instability. In 2023, Armenia's agriculture, forestry, and fishery sectors saw no growth compared to the previous year, generating products valued at slightly over USD 2.47 billion, according to the National Statistical Committee. Agriculture experienced a slight decline of 0.3% to approximately USD 2.35 billion. Livestock production dropped by 3.4% to around USD 1.24 billion, while crop production increased by 2.7% to approximately USD 1.11 billion. Forestry sector output rose by 22.3% to roughly USD 6.69 million, and fisheries output grew by 3.6% to around USD 136.04 million.

The industry contributes 25.3% of GDP and employs 14% of the total workforce. Armenia boasts deposits of copper, molybdenum, bauxite, zinc, lead, iron, gold, and mercury, forming the basis of its chemical industry sector and primary exports, especially metal ores. The mining sector, notably metal ores, is one of the largest contributors to GDP and exports. Armenia's well-developed hydroelectricity sector enables it to export electricity, although much of it is foreign-owned. The manufacturing sector alone accounts for 11% of GDP (World Bank). According to the National Statistical Committee (NSC), Armenia's industrial output in 2023 reached approximately USD 6.92 billion in current prices, marking a 4.1% increase compared to 2022.

Services represent 55.5% of GDP and employ 34% of the active population. The sector encompasses jewelry, boosted by the quality of its diamonds, and tourism. The ICT sector is also burgeoning and is prioritized by the government. The banking sector, particularly robust and stable, consists of 17 commercial banks (European Banking Federation). Armenia's Tourism Committee reported that in 2023, the country welcomed 2.3 million tourists, marking a 37.7% surge compared to 2022 and a 21.6% rise compared to 2019. Of the total, 50% arrived from Russia, 11% from Georgia, 6% from Iran, and 3% from the U.S..

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Indicator of Economic Freedom

Definition

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.}}

Score:

71,9/100

World Rank:

32

Regional Rank:

18

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation