ArmInfo. In 2025, Armenia's per capita GDP was 3,666,540 drams or $9,474. This represents a 10.7% increase in dollar terms compared to the previous year and a twofold increase compared to 2021. Furthermore, compared to 2017, this figure increased by $5,605, or approximately 2.5 times. This is stated in the report on the progress and results of the implementation of the Government of the Republic of Armenia's Program for 2021-2026 for 2025, approved at the Cabinet meeting on February 26.
As stated in the appendix to the document, 2025 is the first calendar year since Armenia's independence in which there have been no casualties or injuries as a result of exchanges of fire between Armenia and Azerbaijan. "Peace between the Republic of Armenia and the Republic of Azerbaijan was established on August 8, 2025. 2025 marks the first year since independence when emigration of RA citizens from the Republic of Armenia was replaced by immigration. High economic growth (7.2%) was recorded, resulting in an average annual GDP growth of 7.9% in 2021-2025," the report's authors note.
The section "State Budget Revenues and Expenditures" states that, by the end of 2025, state budget revenues amounted to 2 trillion 886.5 billion drams, which is approximately 307.3 billion drams, or 11.9%, more than the previous year. Thus, 101.3% of the program established by the Government of the Republic of Armenia was fulfilled, which is 5.5 percentage points higher than the previous year.
In total, tax revenues and state duties amounted to 2 trillion 725.2 billion drams, representing 100.3% of the program's implementation and an increase of 7.6 percentage points compared to the previous year. In 2025, tax revenues and state duties of the state budget increased by approximately 14% compared to the previous year, or an increase of 334.3 billion drams.
State budget expenditures in 2025 amounted to 3 trillion 305.3 billion drams, an increase of 11.8%, or 350 billion drams, compared to 2024. Expenditure plan fulfillment under the revised program was 95.8%, an improvement of approximately 2 percentage points compared to the previous year.
In 2025, a significant increase in capital expenditures remained a key guarantee for the implementation of the government's program goals. Compared to the previous year, capital expenditures increased by 144.8 billion drams, or 26%, to over 702.5 billion drams. In 2025, capital expenditures under the revised program amounted to 89.6%, an improvement of 4.9 percentage points compared to the previous year.
In the reporting year, capital expenditures in the economic and social sectors continued to grow, amounting to approximately 255.4 billion drams, an increase of 35.3% compared to 2024. Taking into account subsidies allocated for co-financing community investment programs, they reached approximately 293 billion drams, an increase of 31.6% compared to 2024. As a result of the high growth recorded in recent years, the level of capital expenditures in the economic and social sectors in 2025 (including a portion of subsidies) more than tripled compared to 2018 (3.5 times).
The "Foreign Policy and Security" section states that "following the establishment of peace on October 21, President of the Republic of Azerbaijan Ilham Aliyev announced that, in accordance with the agreements reached in Washington, Azerbaijan had lifted all restrictions on the transit of goods through its territory to Armenia." In November, the first batches of wheat were imported to Armenia by rail from Russia and Kazakhstan via Azerbaijan and Georgia. In December, approximately 1,200 tons of petroleum products were imported to Armenia from Azerbaijan.
It is noted that by the end of 2025, trade turnover between Armenia and Iran amounted to approximately $768 million, an increase of 4.2% compared to 2024. Trade turnover between Armenia and Georgia amounted to approximately $279 million, a decrease of 16.2% compared to 2024.
"In accordance with the agreement reached between the special representatives, Armenia and Turkey decided to provide free electronic visas (e-visas) to holders of diplomatic, service, and special passports of the two countries starting January 1, 2026. The corresponding decision of the Government of the Republic of Armenia was made on December 29, 2025," the Armenian Cabinet of Ministers recalled. In 2025, trade turnover between Armenia and the Russian Federation amounted to approximately $7.7 billion, a decrease of approximately 38.3% compared to 2024.
Regarding relations with the United States, the report's authors noted that high-ranking US officials visited Armenia, and during one of these visits, a $145 million package for the implementation of the TRIPP program was announced. In 2025, trade turnover between Armenia and the US amounted to approximately $348 million, a decrease of 15.2% compared to 2024.
Under the Economic and Investment Plan for 2021-2025, the total value of implemented programs with the EU, as well as signed, approved, and upcoming programs, amounted to approximately ?900 million. Additionally, as of the end of 2025, loan agreements worth over ?1 billion had been signed with Armenian financial institutions. In 2025, trade turnover between Armenia and the EU amounted to approximately $2.5 billion, an increase of 7.2% compared to 2024. Specifically, in 2025, trade turnover between Armenia and France amounted to approximately $210 million, an increase of 33% compared to 2024. In 2025, trade turnover between Armenia and India amounted to approximately $311 million, a decrease of 15.1% compared to 2024.
In 2025, trade turnover between Armenia and China amounted to approximately $2.6 billion, a decrease of 6.5% compared to 2024.
Overall, foreign trade turnover in 2025 was approximately $21 billion. Specifically, imports totaled $13,034.9 million, while exports totaled $8,395.4 million. The corresponding figures for 2017 were as follows: imports - $4,097.1 million, exports - $2,237.7 million. In 2025, compared to 2017, exports increased by 3.8 times, while imports increased by 3.2 times.
The document will be submitted to parliament for approval.
