// IP Marketing video - START// IP Marketing video - END

Armenia, Georgia overtaking Azerbaijan with per-capita GDP growth

Armenia, Georgia overtaking Azerbaijan with per-capita GDP growth

PanARMENIAN.Net - Georgia overtook Azerbaijan in terms of GDP per capita in 2018, while Armenia is expected to achieve the same in 2020, according to a new report from the World Bank.

The reports "Global Economic Prospects: Europe and Central Asia" was published the WB on Tuesday, January 10.

According to data for 2017, Azerbaijan was the leader in the region in terms of GDP per capita ($4131), while Georgia and Armenia followed with $4,078 and $3,937, respectively. The World Bank estimates the growth of the Azerbaijani economy in 2018 at 1.1%, that of the Armenian and Georgian economies at 5.3%. Thus, Georgia will top the other two countries with $4,294 GDP per capita, Azerbaijan and Armenia will come in the second and third ($4,176 and $4,145, respectively).

According to the WB's forecast, the annual growth rate of the Armenian economy will stand at 4.3% in 2019, 4.6% in 2020-2021. Azerbaijan's economy, meanwhile, will grow at a rate of 3.6%, 3.3% and 2.7% in 2019-2021. If the Bank's predictions are correct, by 2019 the difference between per-capita GDPs in Armenia and Azerbaijan will fall to a statistical error of $2-3, and in 2020 the figure will be $4,523 in Armenia and $ 4,470 in Azerbaijan.

According to the forecast, in 2021 Georgia will come close to $ 5,000 per capita, in Armenia the figure will be slightly lower at about $4,730, at about $4,590 in Azerbaijan.

 Top stories
According to a new research, Armenia is the second largest exporter of diamonds in the CIS region.
New Armenian banknotes will be put into circulation on November 22, the Central Bank has revealed.
The $55 million deal is part of Chaarat’s intention of becoming a major regional player, with an annual production of 1 million ounces.
Ghalbourjian Group, in particular, aims to start production of vegetable oil and other additives.
Partner news