Country profile
Armenia
Europe & Central Asia · Upper-middle income · Capital: Yerevan
Key figures, 2025
FDI inflows 2025
$605 m
Inflows % of GDP
2.1%
FDI outflows
$252 m
Net FDI
$353 m
FDI % of investment
9.7%
In 2025, Armenia recorded FDI net inflows of $605 m, up 360% from $132 m in 2024. That is 43% above its 2020–2024 average of $423 m. By value, that ranks 65th of 97 economies with data for 2025. Inflows peaked at $976 m in 2022 (data begin in 1992). Inflows were equivalent to 2.1% of GDP in 2025 — above the Europe & Central Asia aggregate (0.6%) and above the world as a whole (1.3%).
About this summary
Generated automatically from World Bank data. Figures are balance-of-payments net flows in current US$; 2025 is the latest year with broad coverage across economies.Trends
FDI flows over time
Net flows, current US$ (balance-of-payments basis)
- Inflows
- Outflows
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD and BM.KLT.DINV.CD.WD.
Armenia compared with its region and the world
- Armenia
- Europe & Central Asia (aggregate)
- World
Source: World Bank, World Development Indicators (CC BY 4.0). Indicator BX.KLT.DINV.WD.GD.ZS.
FDI vs remittances, aid and portfolio equity, current US$
- FDI inflows
- Remittances
- Aid (ODA)
- Portfolio equity
FDI is only one of the ways foreign money reaches an economy. For many developing economies, remittances from workers abroad or official aid are larger and more stable; portfolio equity is typically the most volatile.
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD, BX.TRF.PWKR.CD.DT, DT.ODA.ODAT.CD, BX.PEF.TOTL.CD.WD.
Economy at a glance
The economy behind the investment
The macroeconomic, trade and workforce indicators investors and trade officials look at alongside FDI — latest year, 15-year trend and regional and world benchmarks.
| IMF World Economic Outlook | 2024 | 2025 | 2026forecast | 2027forecast | 2028forecast |
|---|---|---|---|---|---|
| Real GDP growth | 5.9% | 7.2% | 5.3% | 5.5% | 5.0% |
| Inflation | 0.3% | 3.3% | 3.6% | 3.4% | 3.3% |
| Unemployment rate | 13.9% | 13.0% | 12.8% | 12.7% | 12.5% |
| Current account, % GDP | −4.6% | −6.7% | −6.0% | −5.2% | −4.7% |
| Fiscal balance, % GDP | −3.7% | −3.7% | −4.5% | −3.5% | −2.9% |
| Government gross debt, % GDP | 50.0% | 49.0% | 50.6% | 51.2% | 51.4% |
Source: IMF World Economic Outlook via the IMF DataMapper API. Years from 2026 are IMF projections; recent years may be estimates and are revised in each WEO round (April and October).
Size & growth
GDP
$29.2 bn2025
114th of 186
GDP per capita
$9,4742025
86th of 186Region $34,603World $14,406
GNI per capita (PPP)
$24,0202025
77th of 181Region $53,745World $25,517
Population
3.1 m2025
137th of 217
Population growth
1.7%2025
61st of 217Region 0.4%World 0.9%
Trade & structure
Exports of goods & services
$14.1 bn2025
87th of 138
Imports of goods & services
$15.7 bn2025
90th of 138
Trade openness (% of GDP)
102%2025
43rd of 138Region 81.8%World 68.5%
Manufacturing, % of GDP
11.0%2025
69th of 132Region 13.5%World 14.9%
Services, % of GDP
61.3%2025
52nd of 158Region 65.5%World 63.3%
High-tech exports, % of manufactured exports
23.6%2024
21st of 125Region 21.4%World 24.7%
Workforce & innovation
Labour force
1.5 m2025
130th of 182
R&D expenditure, % of GDP
0.3%2024
Region 2.1%World 2.6%
Internet users, % of population
81.3%2024
97th of 182Region 90.9%World 71.2%
Source: World Bank, World Development Indicators. Latest available year shown for each indicator; ranks are among economies reporting that year (highest = 1st). Region = World Bank regional aggregate. Growth, inflation, unemployment, the current account and government debt are shown in the IMF table above where the IMF covers the economy.
Who invests
Source and destination economies
Direct investment positions (stocks) by immediate counterpart economy, as reported to the OECD.
No bilateral positions for this economy
Structure & policy
Sectors and FDI openness
Inward FDI positions by sector
No sector breakdown
FDI Regulatory Restrictiveness
IndexNot covered by the index
Peers
Similar-sized economies in Europe & Central Asia
The six economies in the same World Bank region with the closest GDP, ranked by FDI inflows as a share of GDP (2024).
- 🇮🇸Iceland8.5%
- 🇦🇱Albania6.3%
- 🇬🇪Georgia4.7%
- 🇧🇦Bosnia and Herzegovina3.4%
- 🇰🇬Kyrgyzstan1.4%
- 🇦🇲Armenia0.5%
- 🇨🇾Cyprus−133.8%
Sources & notes
World Bank, World Development Indicators
- FDI net inflows —
BX.KLT.DINV.CD.WD - FDI net outflows —
BM.KLT.DINV.CD.WD - FDI net inflows, % of GDP —
BX.KLT.DINV.WD.GD.ZS - Gross fixed capital formation —
NE.GDI.FTOT.CD - Personal remittances received —
BX.TRF.PWKR.CD.DT - Net official development assistance received —
DT.ODA.ODAT.CD - Portfolio equity net inflows —
BX.PEF.TOTL.CD.WD - Real GDP growth —
NY.GDP.MKTP.KD.ZG - Inflation (annual average) —
FP.CPI.TOTL.ZG - Unemployment rate —
SL.UEM.TOTL.ZS - Current account balance, % of GDP —
BN.CAB.XOKA.GD.ZS - Exports of goods & services —
NE.EXP.GNFS.CD - Central government debt, % of GDP —
GC.DOD.TOTL.GD.ZS
OECD: FDI statistics by partner economy and by industry (Benchmark Definition, 4th edition) and the FDI Regulatory Restrictiveness Index.
Flows vs positions. Charts on this page show annual balance-of-payments flows. Bilateral and sector figures are positions (accumulated stocks) and are not directly comparable.
Negative values. Net flows can be negative when foreign investors withdraw capital or intra-company loans are repaid faster than new investment arrives.
Timing. Headline figures use 2025, the latest year with broad coverage across economies; charts also show any newer early estimates. Rankings cover economies only, not aggregates.
Counterparts. Bilateral data record the immediate counterpart, so financial centres and conduit economies can appear larger than the ultimate investors behind them.