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Government President Prime Minister Formation and independence Democratic Republic of Armenia established Independence from the Soviet Union Declared Recognised Finalised
28 May 1918
23 August 1990 21 September 1991 25 December 1991 29,743 km2 4.71 3,262,200 108.4/km2 2010 estimate $16.858 billion[7] $5,110[7] 2010 estimate $9.389 billion[7] $2,846[7] 37[8] (medium) 0.695[9] (high) (76th) Dram ( .) (AMD) UTC (UTC+4) Right
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Area Total Water (%) Population 2010 estimate Density GDP (PPP) Total Per capita GDP (nominal) Total Per capita Gini (2006) HDI (2010) Currency Time zone Drives on the
A vibrant Yerevan at dusk According to Forbes magazine Armenia had the second worst economy in the world in 2011. Armenia, whose economy shrank by 15% in 2009 as an expatriate-financed construction boom fizzled along with the world economy. With a mediocre growth forecast for the next few years, this landlocked former Soviet republic, dependent upon Russia and Iran for virtually all of its energy supplies, is struggling to keep up with the rest of the world. Per-capita GDP of $3,000 is less than a third of neighboring Turkey, and inflation is running at 7%. On top of that, Russia cut back on supplies of diamonds, hurting Armenias once-thriving diamondprocessing industry. The economy relies heavily on investment and support from Armenians abroad.[76] Before independence, Armenia's economy was largely industry-based chemicals, electronics, machinery, processed food, synthetic rubber, and textile and highly dependent on outside resources. The republic had developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics in exchange for raw materials and energy.[36] Agriculture accounted for less than 20% of both net material product and total employment before the dissolution of the Soviet Union in 1991. After independence, the importance of agriculture in the economy increased markedly, its share at the end of the 1990s rising to more than 30% of GDP and more than 40% of total employment.[77] This increase in the importance of agriculture was attributable to food security needs of the population in the face of uncertainty during the first phases of transition and the collapse of the non-agricultural sectors of the economy in the early 1990s. As the economic situation stabilized and growth resumed, the share of agriculture in GDP dropped to slightly over 20% (2006 data), although the share of agriculture in employment remained more than 40%.[78]
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Western Asia Dram (AMD) 29743 3083 103.7 Yerevan (1110) 2 March 1992 8541 4900 1912 14.2 13.9 5.9 2770.4 1598.9 621.5 2679.7 1546.7 613.9 32.7 29.8 18.4 377.89 450.19 552.18 1369 52 278 142 117 100 170 146 96 172 148 96 6.3 8.2 11.7 15.6 15.9 17.0 46.2
Age group 16 years and over. 2008. Age group 16 years and over. Age group 16 years and over. Official estimates. 2006. Official estimates. Official estimates. 2002. Official
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2008.
end-2009 85877 2005-2010 3.0 2005-2010 95.7/93.4 2005-2010 56.1 2010 9.2 2010 2008 2007 36 9.5 5053/1.6
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