Average Nominal Monthly Wage in Armenia Increased in 2023

According to the results for 2023, the average nominal monthly wage in Armenia has increased by 14.6% and now stands at 269,994 drams. This is reported by the Armenian Statistical Committee.

In December 2023, the annual growth was reported at 7.8%, while the monthly increase reached 21.6%.

In the public sector, the average nominal monthly wage for 2023 was 208,323 drams, which is an 11.4% increase compared to 2022. In the private sector, the average nominal monthly wage rose by 15% compared to 2022, reaching 295,132 drams. The annual increase in December was 4.6%, while the monthly growth stood at 15.4%.

The Armenian Statistical Committee has also published other figures, indicating that economic growth in Armenia reached 9.4% in 2023. It should be noted that the GDP growth forecast in the state budget for 2023 was set at 7%.

Armenia's external trade turnover increased by 46%, surpassing $20.723 billion; exports grew by 55.3% to $8.4152 billion, while imports rose by 40.2% to $12.308 billion. The volume of industrial products increased by 4.1%, while agricultural production fell by 0.3%.

The construction sector recorded a 14.8% increase, the trade sector saw a rise of 25.7%, and the services sector experienced a growth of 10.3%. Consumer prices also increased by 2%.