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Armenia is one of the youngest GET project countries. The German Economic Team has been active in Armenia since 2019.

The Armenian economy is based mainly on the extraction of raw materials and the production of agricultural goods, especially fruit, vegetables and tobacco. Moreover, the country has a relatively innovative IT sector, an area, in which Armenia has already played a leading role within the Soviet Union.

The developement of a competitive industrial sector is one of the most important taks for Armenia’s economic policy. Furthermore, the German Economic Team advises the Armenian government mainly in the areas of investment promotion, private sector development, foreign trade and governance.



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Economic Monitors

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  • Economic Monitor Armenia

    WA 10 | September 2023

    The boom generated by migration from Russia to Armenia is starting to slow down this year. Next year, GDP growth will be again near the long-term growth path. Inflation dynamics have weakened significantly, the Armenian dram remains stable against the US dollar and has appreciated strongly against the Russian rouble. The fiscal situation is stable.

Policy Publications

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