Southwestern Asia, between Turkey (to the west) and Azerbaijan

highland continental, hot summers, cold winters

Natural hazards:
occasionally severe earthquakes; droughts

Currency: Drams (AMD)

1 EUR = 512.20 Dram - AMD (December 31st, 2016)
1 EUR = 528.69 Dram - AMD (December 31st, 2015)
1 EUR = 577.47 Dram - AMD (December 31st, 2014)
1 EUR = 559.54 Dram - AMD (December 31st, 2013)
1 EUR = 532.24 Dram - AMD (December 31st, 2012)
1 EUR = 498.72 Dram - AMD (December 31st, 2011)
1 EUR = 481.16 Dram - AMD (December 31st, 2010)

ArmInfo News Agency
Central Bank of Armenia

Insurance statistics

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1H2011Market portfolio and rankingsxlsx
2010Insurance market overviewpdf
2010Market portfolio and rankingsxls

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ARMENIA: Number of insured cars has grown from 390,457 in 2011 to 457,878 in 2015

The number of insured cars has grown from 390,457 in 2011, when mandatory car insurance was introduced in Armenia, to 457,878 in 2015, Vahan Avetisyan, executive director of the Car Insurers Bureau, said Tuesday at a news conference summarizing the results of the first five years of obligatory car insurance in the country.

ARMENIA, 3Q2015: GWP up by 0.13%

In the first nine months of 2015, the six active insurance companies of the Armenian market underwrote AMD 22.5 billion gross premiums, up by 0.13% y-o-y. Compared with the first quarter of 2015, GWP in the third quarter were down by 23.5%, according to АРКА news agency. At the same time the indemnities paid by local insurers totaled AMD 9.5 billion.
In 2015, drivers in Armenia paid a total of 17.660 billion AMD (USD 36.360 million) to insure their vehicles. Rosgosstrakh-Armenia, the company enjoying the largest share of the market received 5.761 million AMD in insurance payments last year; followed by Inco (3.914 million), Nairi (2.873m), Sil (2.037m), Reso (1.892m) and Armenia Insurance (1.182m).

Bloomberg predicts 2.5% economic growth in ARMENIA

Bloomberg predicts 2.5% economic growth in Armenia in 2016. This is according to the rating of 93 countries with the worst economic indicators published by the agency. It's worth mentioning for comparison that the World bank predicted 2.7% economic growth for Armenia, the International Monetary Fund- 2.2%, the European Bank for Reconstruction and Development- up to 2% , while the Asian Development Bank predicted an increase of 2%.

ARMENIA: Median gross wage in Nov. 2015 amounted to 181,982 drams

The median gross wage in Armenia in November 2015 stood at 181,982 drams (USD 379 or 24,659 Russian rubles), a 0.3% rise from October, according to the National Statistical Service (NSS). NSS said in 2015 October the median gross wage was 181,391 drams,  about 0.9% less than in September 2015 and 3.9% more than in October 2014.