Economic Growth in the South Caucasus

The overall economic growth in the South Caucasus is projected to reach 6.9% in 2024, as reported by the Gnomon Wise research institute.

According to the institute’s data, trade increased by 8.9% in the first half of the year, accounting for 14% of the GDP. The tourism sector grew by 14.3%, contributing 3.5% to the GDP. Meanwhile, the transportation sector's share reached 9.8%, with an 11% increase in the first half of the year.

As noted in the summary, the share of information and communication in the GDP was 7.2%, with a 16.2% growth.

It is noteworthy that following the revision of Armenia's 2025 budget draft, the projected GDP volume is expected to decrease by 158 billion dram, resulting in a forecast of 10.89 trillion dram (down from the previous estimate of 11.05 trillion dram). Authorities have also downgraded economic growth forecasts from 5.6% to 5.1%.