Economic activity in Armenia in January was in line with the same level a year earlier – WB
YEREVAN, March 17. /ARKA/. Economic activity in January remained robust at 7.6 percent (yoy) and broadly in line with the 7.3 percent (yoy) recorded in January of the previous year, stated in the World Bank’s “Armenia Monthly Economic Update – March 2026” review.
“Growth was primarily supported by construction (18.7 percent, yoy) and industry (10.6 percent, yoy), mostly driven by growth in mining activities (25.2 percent) and electricity and energy production (17 percent, yoy)”, - the study notes.
Manufacturing growth in January was modest at 4.3 percent (yoy) with major manufacturing products, such as food and base metals having a flat and 2.2 percent growth, respectively. Growth in non-trade services and retail stood at 7.4 and 7.9 percent (yoy), respectively.
WB analysts also point out that the number of registered businesses fell by 13.8 percent (yoy) in January, driven mainly by an 18.6 percent fall in individual entrepreneurs.
Armenian Economic Figures and Forecasts
The 2026 state budget projects 5.4% economic growth for Armenia. According to the Central Bank's monetary policy report for the fourth quarter of last year, GDP growth is expected to be 6.3-4.1% by the end of 2026, depending on scenarios (A-B), and 4.9-5.3% in 2027.
The following are the economic growth forecasts for Armenia from international financial institutions for 2026: EDB – 5.3%; WB – 4.9%; IMF – 5.5%; EBRD – 5.5%; S&P Global Ratings – 5.3%; Fitch Ratings – above 5% (for 2026-2027).
