Armenia Investment: % of GDP
Key information about Armenia Investment: % of GDP
- Armenia Investment accounted for 22.7 % of its Nominal GDP in Jun 2024, compared with a ratio of 19.3 % in the previous quarter.
- Armenia investment share of Nominal GDP data is updated quarterly, available from Dec 1994 to Jun 2024, with an average ratio of 20.3 %.
- The data reached an all-time high of 49.7 % in Sep 2008 and a record low of 10.2 % in Mar 2017.
CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. Statistical Committee of the Republic of Armenia provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency, based on SNA 2008. Investment as % of Nominal GDP prior to Q1 2013 is based on SNA 1993 and prior to Q1 2000 is sourced from the International Monetary Fund.
Related information about Armenia Investment: % of GDP
- In the latest reports, Armenia GDP expanded 12.1 % YoY in Mar 2023.
- Armenia Nominal GDP reached 4.6 USD bn in Mar 2023.
- Its GDP deflator (implicit price deflator) increased 7.3 % in Mar 2023.
- Armenia GDP Per Capita reached 6,572.2 USD in Dec 2022.
- Its Gross Savings Rate was measured at 15.6 % in Jun 2024.
View Armenia's Investment: % of GDP from Dec 1994 to Jun 2024 in the chart:
What was Armenia's Investment: % of GDP in Jun 2024?
Armenia Investment accounted for 22.7 % of its Nominal GDP in Jun 2024, compared with a ratio of 19.3 % in the previous quarter. See the table below for more data.
Last | Previous | Min | Max | Unit | Frequency | Range |
---|---|---|---|---|---|---|
22.7 Jun 2024 | 19.3 Mar 2024 | 10.2 Mar 2017 | 49.7 Sep 2008 | % | quarterly | Dec 1994 - Jun 2024 |
Investment: % of GDP by Country Comparison
country/region | Last | Frequency | Range |
---|---|---|---|
Albania (%) | 21.7 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
Algeria (%) | 37.7 2023 | yearly | 1950 - 2023 |
Argentina (%) | 13.4 Jun 2024 | quarterly | Mar 1993 - Jun 2024 |
Armenia (%) | 22.7 Jun 2024 | quarterly | Dec 1994 - Jun 2024 |
Australia (%) | 25.8 Jun 2024 | quarterly | Sep 1959 - Jun 2024 |
Austria (%) | 25.8 Jun 2024 | quarterly | Mar 1988 - Jun 2024 |
Azerbaijan (%) | 19.1 Jun 2024 | quarterly | Mar 2001 - Jun 2024 |
Bahrain (%) | 20.4 2022 | yearly | 1975 - 2022 |
Bangladesh (%) | 31.0 2024 | yearly | 1960 - 2024 |
Belarus (%) | 22.1 Jun 2024 | quarterly | Mar 1994 - Jun 2024 |
Belgium (%) | 22.1 Jun 2024 | quarterly | Mar 1980 - Jun 2024 |
Bolivia (%) | 15.5 Jun 2024 | quarterly | Mar 1990 - Jun 2024 |
Bosnia and Herzegovina (%) | 32.4 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
Botswana (%) | 36.7 Jun 2024 | quarterly | Mar 2006 - Jun 2024 |
Brazil (%) | 17.3 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Brunei (%) | 33.8 Jun 2024 | quarterly | Mar 2004 - Jun 2024 |
Bulgaria (%) | 20.1 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Cambodia (%) | 16.0 2023 | yearly | 1960 - 2023 |
Canada (%) | 21.7 Jun 2024 | quarterly | Mar 1961 - Jun 2024 |
Chile (%) | 22.2 Dec 2022 | quarterly | Mar 1996 - Dec 2022 |
China (%) | 42.1 2023 | yearly | 1952 - 2023 |
Colombia (%) | 14.7 Dec 2022 | quarterly | Mar 2005 - Dec 2022 |
Croatia (%) | 26.5 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Cyprus (%) | 15.9 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Czech Republic (%) | 26.2 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Denmark (%) | 26.0 Dec 2022 | quarterly | Mar 1990 - Dec 2022 |
Ecuador (%) | 22.8 Sep 2022 | quarterly | Mar 1991 - Sep 2022 |
Egypt (%) | 12.6 Dec 2022 | quarterly | Sep 2001 - Dec 2022 |
Estonia (%) | 25.2 Jun 2024 | quarterly | Mar 1993 - Jun 2024 |
European Union (%) | 20.7 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Finland (%) | 21.9 Mar 2023 | quarterly | Mar 1990 - Mar 2023 |
France (%) | 21.3 Sep 2024 | quarterly | Mar 1980 - Sep 2024 |
Georgia (%) | 22.8 Dec 2023 | quarterly | Mar 1996 - Dec 2023 |
Germany (%) | 20.5 Jun 2024 | quarterly | Mar 1991 - Jun 2024 |
Ghana (%) | 10.8 2023 | yearly | 2006 - 2023 |
Greece (%) | 16.3 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Hong Kong SAR, China (%) | 13.5 Jun 2024 | quarterly | Mar 1973 - Jun 2024 |
Hungary (%) | 17.4 Mar 2023 | quarterly | Mar 1995 - Mar 2023 |
Iceland (%) | 25.1 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
India (%) | 32.8 Jun 2024 | quarterly | Jun 2004 - Jun 2024 |
Indonesia (%) | 33.6 Sep 2024 | quarterly | Mar 1993 - Sep 2024 |
Iran (%) | 32.9 Mar 2022 | quarterly | Jun 1988 - Mar 2022 |
Ireland (%) | 7.9 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Israel (%) | 22.4 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Italy (%) | 21.8 Dec 2022 | quarterly | Mar 1980 - Dec 2022 |
Ivory Coast (%) | 24.2 2023 | yearly | 1960 - 2023 |
Japan (%) | 25.4 Jun 2024 | quarterly | Mar 1980 - Jun 2024 |
Jordan (%) | 17.6 2023 | yearly | 1963 - 2023 |
Kazakhstan (%) | 31.1 Jun 2024 | quarterly | Mar 2007 - Jun 2024 |
Kenya (%) | 16.4 2023 | yearly | 1964 - 2023 |
South Korea (%) | 30.7 Jun 2024 | quarterly | Mar 1960 - Jun 2024 |
Kosovo (%) | 32.7 Mar 2023 | quarterly | Mar 2010 - Mar 2023 |
Kuwait (%) | 16.9 2022 | yearly | 1962 - 2022 |
Kyrgyzstan (%) | 40.5 Sep 2023 | quarterly | Mar 2000 - Sep 2023 |
Laos (%) | 29.0 2016 | yearly | 2000 - 2016 |
Latvia (%) | 23.2 Jun 2024 | quarterly | Mar 1992 - Jun 2024 |
Lebanon (%) | 21.8 2021 | yearly | 1990 - 2021 |
Lithuania (%) | 23.1 Dec 2022 | quarterly | Mar 1995 - Dec 2022 |
Luxembourg (%) | 15.6 Sep 2022 | quarterly | Mar 1995 - Sep 2022 |
Macau SAR, China (%) | 13.2 Jun 2024 | quarterly | Mar 1998 - Jun 2024 |
North Macedonia (%) | 21.8 Jun 2024 | quarterly | Mar 2000 - Jun 2024 |
Malawi (%) | 12.3 2019 | yearly | 1960 - 2019 |
Malaysia (%) | 25.3 Jun 2024 | quarterly | Mar 1991 - Jun 2024 |
Malta (%) | 19.0 Jun 2024 | quarterly | Mar 2000 - Jun 2024 |
Mauritius (%) | 28.5 Jun 2024 | quarterly | Mar 1999 - Jun 2024 |
Mexico (%) | 21.9 Sep 2022 | quarterly | Mar 1993 - Sep 2022 |
Moldova (%) | 24.1 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Mongolia (%) | 25.6 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
Montenegro (%) | 24.0 Sep 2022 | quarterly | Mar 2010 - Sep 2022 |
Morocco (%) | 30.9 Dec 2014 | quarterly | Mar 1998 - Dec 2014 |
Mozambique (%) | 19.9 2023 | yearly | 1991 - 2022 |
Myanmar (%) | 34.1 2018 | yearly | 1996 - 2018 |
Nepal (%) | 30.5 2024 | yearly | 1965 - 2024 |
Netherlands (%) | 20.7 Jun 2024 | quarterly | Mar 1987 - Jun 2024 |
New Zealand (%) | 20.3 Jun 2024 | quarterly | Jun 1987 - Jun 2024 |
Nigeria (%) | 36.1 2023 | yearly | 1981 - 2023 |
Norway (%) | 22.4 Dec 2022 | quarterly | Mar 1978 - Dec 2022 |
Oman (%) | 26.9 2022 | yearly | 1967 - 2022 |
Pakistan (%) | 13.1 2024 | yearly | 1960 - 2024 |
Palestinian Territory (%) | 27.3 Dec 2022 | quarterly | Mar 2011 - Dec 2022 |
Panama (%) | 37.7 2023 | yearly | 1996 - 2023 |
Paraguay (%) | 19.0 Jun 2024 | quarterly | Mar 1994 - Jun 2024 |
Peru (%) | 18.2 Mar 2023 | quarterly | Mar 1980 - Mar 2023 |
Philippines (%) | 23.7 Sep 2024 | quarterly | Jun 1972 - Sep 2024 |
Poland (%) | 14.7 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Portugal (%) | 18.1 Mar 2024 | quarterly | Mar 1995 - Mar 2024 |
Qatar (%) | 29.9 Sep 2022 | quarterly | Mar 2013 - Sep 2022 |
Romania (%) | 23.7 Jun 2024 | quarterly | Mar 1995 - Jun 2024 |
Russia (%) | 23.5 Jun 2024 | quarterly | Mar 1993 - Jun 2024 |
Saudi Arabia (%) | 26.3 Dec 2022 | quarterly | Mar 2003 - Dec 2022 |
Serbia (%) | 23.9 Dec 2022 | quarterly | Mar 1995 - Dec 2022 |
Singapore (%) | 21.0 2023 | yearly | 1960 - 2023 |
Slovakia (%) | 19.6 Jun 2024 | quarterly | Mar 1990 - Jun 2024 |
Slovenia (%) | 21.9 Dec 2022 | quarterly | Mar 1995 - Dec 2022 |
South Africa (%) | 14.9 Jun 2024 | quarterly | Mar 1960 - Jun 2024 |
Spain (%) | 19.6 Sep 2024 | quarterly | Mar 1980 - Sep 2024 |
Sri Lanka (%) | 27.7 Jun 2024 | quarterly | Mar 2010 - Jun 2024 |
Sudan (%) | 2.0 2023 | yearly | 1976 - 2023 |
Sweden (%) | 24.0 Jun 2024 | quarterly | Mar 1980 - Jun 2024 |
Switzerland (%) | 24.3 Jun 2024 | quarterly | Mar 1980 - Jun 2024 |
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Learn more about what we doArmenia Key Series
Government and Public Finance | Last | Frequency | Range |
---|---|---|---|
Consolidated Fiscal Balance: % of GDP (%) | -3.0 Jun 2024 | quarterly | Dec 2002 - Jun 2024 |
Consolidated Fiscal Balance (USD mn) | -68.388 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
Tax Revenue (USD mn) | 432.976 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
Tax Revenue: % of GDP (%) | 25.1 Mar 2023 | quarterly | Mar 2008 - Mar 2023 |
National Government Debt (USD mn) | 12,502.4 Sep 2024 | quarterly | Mar 2002 - Sep 2024 |
Government Debt: % of GDP (%) | 48.5 Jun 2024 | quarterly | Dec 2013 - Jun 2024 |
Forecast: Government Expenditure (AMD bn) | 4,374.501 2029 | yearly | 2005 - 2029 |
Forecast: Government Net Debt (AMD bn) | 8,523.699 2029 | yearly | 1996 - 2029 |
Forecast: Government Revenue (AMD bn) | 3,906.567 2029 | yearly | 1993 - 2029 |
Consolidated Government Budget: Revenue and Grants (AMD mn) | 745,515.800 Jun 2024 | quarterly | Mar 2002 - Jun 2024 |
Consolidated Government Budget: Balance (AMD mn) | 21,095.200 Jun 2024 | quarterly | Mar 2002 - Jun 2024 |
State Budget: Revenue: ytd: TP: TD: Tax: Excise Tax (AMD mn) | 82,510.700 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Expenditure: ytd: Current Expenses (CE) (AMD mn) | 1,462,872.800 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Expenditure: ytd (AMD mn) | 1,708,576.500 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Balance: ytd (AMD mn) | -84,573.500 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Revenue: ytd: TP: TD: Tax: VAT (AMD mn) | 457,770.100 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Revenue and Official Transfers: ytd (AMD mn) | 1,624,003.000 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: Deficit Financing: ytd (AMD mn) | 84,573.500 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: ytd: RT: Revenue: Tax, Government Duties & Compulsory Social Insur... (AMD mn) | 1,548,161.400 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: ytd: Expenditure: Transaction with Non Financial Assets: Non Finan... (AMD mn) | 255,980.000 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
State Budget: ytd: RT: Revenue (AMD mn) | 1,616,995.800 Aug 2024 | monthly | Jan 2008 - Aug 2024 |
Central Government Debt: Short Term (AMD bn) | 127.076 Jun 2024 | quarterly | Mar 2002 - Jun 2024 |
Central Government Debt: Mid Term (AMD bn) | 787.021 Jun 2024 | quarterly | Mar 2002 - Jun 2024 |
Central Government Debt: Long Term (AMD bn) | 3,607.654 Jun 2024 | quarterly | Mar 2002 - Jun 2024 |
Central Government Debt: Domestic (AMD bn) | 2,403.559 Sep 2024 | quarterly | Mar 2002 - Sep 2024 |
Central Government Debt: External (AMD bn) | 2,438.511 Sep 2024 | quarterly | Mar 2002 - Sep 2024 |
Central Government Debt (AMD bn) | 4,842.070 Sep 2024 | quarterly | Mar 2002 - Sep 2024 |
Central Government Debt: % Nominal GDP (%) | 46.700 2022 | yearly | 1999 - 2022 |
Foreign Trade | Last | Frequency | Range |
---|---|---|---|
Forecast: Exports of Goods Growth (%) | 5.009 2028 | yearly | 1996 - 2028 |
Trade Balance (USD mn) | -223.7 Sep 2024 | monthly | Nov 1995 - Sep 2024 |
Total Exports (USD mn) | 857.1 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Total Exports Growth (%) | 41.2 Sep 2024 | monthly | Jan 2001 - Sep 2024 |
Aluminum: Exports (USD th) | 104,497.100 2023 | yearly | 1995 - 2023 |
Exports: Medicament (USD th) | 15,645.987 2022 | yearly | 1995 - 2022 |
Exports: Medicinal and Pharmaceutical Product (USD th) | 12,819.576 2022 | yearly | 1995 - 2022 |
Total Imports (USD mn) | 1,080.8 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Total Imports Growth (%) | 14.0 Sep 2024 | monthly | Jan 2001 - Sep 2024 |
Imports: Medicament (USD th) | 155,783.749 2022 | yearly | 1995 - 2022 |
Imports: Medicinal and Pharmaceutical Product (USD th) | 61,751.003 2022 | yearly | 1995 - 2022 |
Total Exports to USA (USD mn) | 3.420 Aug 2024 | monthly | Jun 1996 - Aug 2024 |
Total Imports from USA (USD mn) | 29.790 Aug 2024 | monthly | Jan 1993 - Aug 2024 |
Total Exports to China (USD mn) | 62.182 Aug 2024 | monthly | Dec 1998 - Aug 2024 |
Total Imports from China (USD mn) | 161.481 Aug 2024 | monthly | Jun 1998 - Aug 2024 |
Trade Balance: ytd (USD mn) | -2,527.000 Sep 2024 | monthly | Dec 1999 - Sep 2024 |
Exports: Foodstuff (USD th) | 882,197.134 2022 | yearly | 1995 - 2022 |
Exports: Transport Means (USD th) | 332,561.981 2022 | yearly | 1995 - 2022 |
Exports: Machinery and Equipment (USD th) | 718,755.992 2022 | yearly | 1995 - 2022 |
Exports: Iron and Steel (USD th) | 84,659.900 2017 | yearly | 1995 - 2017 |
Exports: ow Bulgaria (USD mn) | 9.443 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Exports: ow China (USD mn) | 62.182 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Exports: ow Iran (USD mn) | 9.829 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Exports: ow Russian Federation (USD mn) | 274.956 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Imports: Foodstuff (USD th) | 579,422.226 2022 | yearly | 1995 - 2022 |
Imports: Chemicals and Related Products (USD th) | 588,239.623 2022 | yearly | 1995 - 2022 |
Imports: Transport Means (USD th) | 957,936.871 2022 | yearly | 1995 - 2022 |
Imports: Machinery and Equipment (USD th) | 1,728,318.860 2022 | yearly | 1995 - 2022 |
Imports: Base Metals and Articles Thereof (USD th) | 291,969.058 2017 | yearly | 1995 - 2017 |
Imports: Iron and Steel (USD th) | 81,128.500 2017 | yearly | 1995 - 2017 |
Imports: ow Iran (USD mn) | 58.886 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Imports: ow Russian Federation (USD mn) | 506.792 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Export Value Index (2015=100) | 203.490 2021 | yearly | 1995 - 2021 |
Import Value Index (2015=100) | 165.372 2021 | yearly | 1995 - 2021 |
Monetary | Last | Frequency | Range |
---|---|---|---|
Non Performing Loans Ratio (%) | 1.2 Sep 2024 | monthly | Jan 2005 - Sep 2024 |
Household Debt: % of GDP (%) | 27.1 Jun 2024 | quarterly | Dec 2000 - Jun 2024 |
Non-Performing Loans (USD mn) | 441.540 Aug 2024 | monthly | Dec 2008 - Aug 2024 |
Money Supply M1 (USD mn) | 5,372.000 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
Money Supply M2 (USD mn) | 9,299.886 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
M2 Growth (%) | 15.1 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
Reserve Requirement Ratio (%) | 8.0 2023 | yearly | 2008 - 2023 |
Foreign Exchange Reserves (USD mn) | 3,581.5 Oct 2024 | monthly | Dec 1993 - Oct 2024 |
Foreign Exchange Reserves: % of GDP (%) | 13.592 Jun 2024 | quarterly | Dec 2013 - Jun 2024 |
Foreign Exchange Reserves: Months of Import (NA) | 3.3 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Gold Reserves (USD mn) | 0.000 Aug 2024 | monthly | Dec 1992 - Aug 2024 |
Total Deposits (USD mn) | 15,389.484 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Total Deposits Growth (%) | 10.8 Sep 2024 | monthly | Jan 2001 - Sep 2024 |
Domestic Credit (USD mn) | 18,611.6 Aug 2024 | monthly | Dec 1993 - Aug 2024 |
Domestic Credit Growth (%) | 21.8 Aug 2024 | monthly | Dec 1994 - Aug 2024 |
Household Debt (USD mn) | 7,253.8 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Total Loans (USD mn) | 15,159.211 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Total Loans Growth (%) | 21.08 Sep 2024 | monthly | Jan 2001 - Sep 2024 |
Private Debt: % of Nominal GDP (%) | 50.90 Jun 2024 | quarterly | Dec 2000 - Jun 2024 |
Money Supply: M2X (AMD mn) | 5,469,875.977 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
Money Supply: sa: M2 (AMD mn) | 3,603,985.000 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
Money Supply: M2X: M2 (AMD mn) | 3,685,826.504 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
Money Supply: M2X: M2: M1 (AMD mn) | 2,093,488.855 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
Money Supply: sa: M1 (AMD mn) | 2,081,811.000 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
Monetary Base: sa (AMD mn) | 1,829,771.000 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
Money Supply: M2X: M2: M1: Currency in Circulation (AMD mn) | 802,077.782 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
International Reserves: USD: Gold (USD mn) | 0.000 Oct 2024 | monthly | Sep 2003 - Oct 2024 |
International Reserves: USD (USD mn) | 3,590.759 Oct 2024 | monthly | Jan 2003 - Oct 2024 |
Commercial Banks Loans: Residents: Consumer (AMD mn) | 1,287,588.923 Sep 2024 | monthly | Dec 2004 - Sep 2024 |
Commercial Banks Loans: Residents: Mortgage (AMD mn) | 1,271,375.707 Sep 2024 | monthly | Apr 2005 - Sep 2024 |
Commercial Banks Credit (AMD mn) | 5,871,010.938 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
Business and Economic Survey | Last | Frequency | Range |
---|---|---|---|
Business Confidence Growth (% Point) | -3.7 Jun 2016 | quarterly | Sep 2006 - Jun 2016 |
Business Climate Indicator: sa: Industry (%) | 53.719 Jun 2016 | quarterly | Sep 2005 - Jun 2016 |
Business Climate Indicator: sa: Construction (%) | 38.971 Jun 2016 | quarterly | Sep 2005 - Jun 2016 |
Business Climate Indicator: sa: Trade (%) | 57.637 Jun 2016 | quarterly | Sep 2005 - Jun 2016 |
Business Climate Indicator: sa: Services (%) | 51.136 Jun 2016 | quarterly | Sep 2005 - Jun 2016 |
Business Climate Indicator: sa (%) | 51.023 Jun 2016 | quarterly | Sep 2005 - Jun 2016 |
More Indicators for Armenia
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