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Welcome to Economist Intelligence Unit (EIU)
The Economist Intelligence Unit provides a constant flow of analysis and forecasts on more than 200 countries and eight key industries. We help executives make informed business decisions through dependable intelligence delivered online.
EIU Armenia
Armenia's political scene will remain volatile. The president, Serzh Sargsyan, will face opposition to Armenia's rapprochement with Turkey. Despite the signing of two protocols in October 2009 between the two countries, a further improvement of ties will be hampered by Armenia's unresolved dispute over Nagorny Karabakh with Azerbaijan, an important Turkish ally. The risk of social unrest in the earlier part of the forecast period is elevated, owing to the recent increase in unemployment and lower remittance inflows. After contracting by an estimated 15.2% in 2009, real GDP growth will resume in 2010, rising to 3.3% in 2011 as the external environment improves. |
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| Key Reports Available for Armenia |
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| Total area | | 29,800 sq km, of which around 80% is mountainous | | Population | | 3.23m (end-2007) | | Main towns | | Yerevan (capital; population 1.1m); Gyumri; Vanadzor | | Climate | | Continental and dry, with cold winters and warm summers. The heaviest rainfall is in the mountains. The average temperature in July is 21°C; in January, the coldest month, it is -7°C | | Languages | | Armenian is the national language; Russian is widely spoken in towns | | Weights and measures | | Metric system | | Currency | | The Armenian dram was introduced as legal tender in November 1993 to replace the rouble. Average exchange rate in 2007: Dram342:US$1; on February 27th 2008: Dram307:US$1 | | Time | | 4 hours ahead of GMT | | National holidays | | January 1st-2nd (New Year); January 6th (Christmas); January 28th (Army Day); March 8th (International Women's Day); April 24th (Armenian Genocide Commemoration Day); May 1st (International Workers' Day); May 9th (Victory Day); May 28th (Day of the First Republic); July 5th (Constitution Day); September 21st (Independence Day); December 31st (New Year's Eve) |
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