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Country Snapshot - Armenia  

HighlightsRankingsQuantitative DataLegislationAnalytical WorkProject Portfolio
  • Eastern Europe & Central Asia
  • Lower middle income
  • 3,090,379 (2011)
  • 3,090
Armenia Flag
Below are select highlights for the data included in the profile.

  1. The Index of Economic Freedom scores Armenia 69.7, making its economy the 36th freest in the 2011 Index. Its overall score increased by 0.5 point from last year. Armenia is ranked 19th freest among the 43 countries in the Europe region, and its score puts it above the world and regional averages. Armenia receives high marks in eight of the 10 economic freedoms, with a poor showing in property rights and freedom from corruption.
  2. The overall Ease of Doing Business ranking decreased this year. The most drastic drop occurred for the Dealing with Construction Permits Indicator. However, a notable improvement was recorded in the Trading Across Borders Indicator. Indeed, the country made trading easier by introducing self-declaration desks at customs houses and warehouses, investing in new equipment to improve border operations and introducing a risk management system.
  3. According to the latest Enterprise Surveys (2009), the top three constraints to doing business and investment include the informal sector, tax rates, and political instability.
  4. In Armenia, statutory ownership restrictions on foreign capital, as measured by the Investing Across Sectors indicators, exist in a number of key sectors of the economy. Foreign ownership of air transportation companies (domestic and international), for example, is limited to a maximum of 49%. In addition to these restrictions, which can be found in many countries in Eastern Europe and Central Asia, Armenian laws also limit foreign ownership in the airport operation and railway transportation sectors to 40%.