Armenia is a
democratic republic and a former satellite of the USSR. It is located south of
Georgia and between Turkey and Azerbaijan. They retained most of their local
trading partners. Armenia is still poor, but appears stable.
Armenia has a
population of 2.9 million and a land area of 11,484 square miles. GDP $11.5
billion, Per capita GDP was $3880. GDP growth 7.5%. GDP by sector agriculture
19.4%, industry 28.7%, services 51.9%. Labor force is 1.5 million. Inflation
1%. Poverty 32%. Unemployment 18.9%. Labor force by occupation agriculture
36.3%, industry 17% services 46.7%.
Main industries
include mining, diamond processing, metal cutting machine tools, forging and
press machines, electric motors, trucks, chemicals, instruments,
microelectronics, software, food processing, jewelry, silk fabric, knitted
wear, hosiery shoes and brandy,
Exports $ 2.24 billion
including copper, pig iron, nonferrous metals, gold, diamonds, mineral
products, energy, foodstuffs, cigarettes and brandy sold to Russia 15.2%, China
11.1%, Germany 9.8%, Iraq 8.8% Georgia 7.8%, Canada 7.8%, Bulgaria 5.3%, Iran
5.3%
Imports $4.18 billion
include natural gas, petroleum, diamonds, cars, pharmaceuticals, foodstuffs and
tobacco purchased from Russia 29.1%, China 9.7%, Germany 6.2%, Iran 6.1%, Italy
4.6% and Turkey 4.2%.
Government revenue
$2.538 billion, spending $2.91 billion. Debt to GDP 56.7%. External debt $9.17
billion. Reserves $2.242 billion
Norb Leahy, Dunwoody
GA Tea Party Leader
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