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recent improvements in poverty and unemployment, especially given its economic isolation from two of its nearest neighbors, Turkey and Azerbaijan.

      GDP (purchasing power parity):

      $17.17 billion (2007 est.)

      GDP (official exchange rate):

      $7.974 billion (2007 est.)

      GDP - real growth rate:

      13.7% (2007 est.)

      GDP - per capita (PPP):

      $5,800 (2007 est.)

      GDP - composition by sector:

      agriculture: 17.2% industry: 36.4% services: 46.4% (2007 est.)

      Labor force:

      1.2 million (2007 est.)

      Labor force - by occupation:

      agriculture: 46.2% industry: 15.6% services: 38.2% (2006 est.)

      Unemployment rate:

      7.1% (2007 est.)

      Population below poverty line:

      26.5% (2006 est.)

      Household income or consumption by percentage share:

      lowest 10%: 1.6% highest 10%: 41.3% (2004)

      Distribution of family income - Gini index:

      37 (2006)

      Investment (gross fixed):

      33.6% of GDP (2007 est.)

      Budget:

      revenues: $1.666 billion expenditures: $1.735 billion; including capital expenditures of $NA (2007 est.)

      Fiscal year:

      calendar year

      Inflation rate (consumer prices):

      4.4% (2007 est.)

      Commercial bank prime lending rate:

      17.52% (31 December 2007)

      Stock of money:

      $1.507 billion (31 December 2007)

      Stock of quasi money:

      $765.2 million (31 December 2007)

      Stock of domestic credit:

      $1.256 billion (31 December 2007)

      Agriculture - products:

      fruit (especially grapes), vegetables; livestock

      Industries:

      diamond-processing, metal-cutting machine tools, forging-pressing machines, electric motors, tires, knitted wear, hosiery, shoes, silk fabric, chemicals, trucks, instruments, microelectronics, jewelry manufacturing, software development, food processing, brandy

      Industrial production growth rate:

      3.2% (2007 est.)

      Electricity - production:

      5.544 billion kWh (2007 est.)

      Electricity - consumption:

      4.539 billion kWh (2006 est.)

      Electricity - exports:

      322.6 million kWh; note - exports an unknown quantity to Georgia; includes exports to Nagorno-Karabakh region in Azerbaijan (2007 est.)

      Electricity - imports:

      400.6 million kWh; note - imports an unknown quantity from Iran (2007 est.)

      Electricity - production by source:

      fossil fuel: 42.3% hydro: 27% nuclear: 30.7% other: 0% (2001)

      Oil - production:

      0 bbl/day (2007 est.)

      Oil - consumption:

      41,090 bbl/day (2006 est.)

      Oil - exports:

      0 bbl/day (2005)

      Oil - imports:

      44,670 bbl/day (2005)

      Oil - proved reserves:

      0 bbl (1 January 2006 est.)

      Natural gas - production:

      0 cu m (2007 est.)

      Natural gas - consumption:

      2.05 billion cu m (2007 est.)

      Natural gas - exports:

      0 cu m (2007 est.)

      Natural gas - imports:

      2.05 billion cu m (2007 est.)

      Natural gas - proved reserves:

      0 cu m (1 January 2006)

      Current account balance:

      -$571.4 million (2007 est.)

      Exports:

      $1.2 billion f.o.b. (2007 est.)

      Exports - commodities:

      pig iron, unwrought copper, nonferrous metals, diamonds, mineral products, foodstuffs, energy

      Exports - partners:

      Russia 17.5%, Germany 14.7%, Netherlands 13.5%, Belgium 8.7%, Georgia 7.6%, US 6.6%, Switzerland 4.3%, Bulgaria 4.1%, Ukraine 4% (2007)

      Imports:

      $2.807 billion f.o.b. (2007 est.)

      Imports - commodities:

      natural gas, petroleum, tobacco products, foodstuffs, diamonds

      Imports - partners:

      Russia 15.1%, Ukraine 7.7%, Kazakhstan 7.4%, Germany 6.8%, China 6%,

       France 4.6%, US 4.5%, Iraq 4.3% (2007)

      Economic aid - recipient:

      ODA, $180 million (2007)

      Reserves of foreign exchange and gold:

      $1.657 billion (December 2007 est.)

      Debt - external:

      $1.372 billion (31 December 2007 est.)

      Market value of publicly traded shares:

      $42.8 million (2005)

      Currency (code):

      dram (AMD)

      Currency code:

      AMD

      Exchange rates:

      drams (AMD) per US dollar - 344.06 (2007), 414.69 (2006), 457.69 (2005), 533.45 (2004), 578.76 (2003)

      Communications

       Armenia

      Telephones - main lines in use:

      603,900 (2006)

      Telephones - mobile cellular:

      1,185,400 (2006)

      Telephone system:

      general assessment: telecommunications investments have made major inroads in modernizing and upgrading the outdated telecommunications network inherited from the Soviet era; now 100% privately owned and undergoing modernization and expansion; mobile-cellular services monopoly terminated in late 2004 and a second provider began operations in mid-2005 domestic: reliable modern landline and mobile-cellular services are available across Yerevan in major cities and towns; significant but ever-shrinking gaps remain in mobile-cellular coverage in rural areas international: country code - 374; Yerevan is connected to the Trans-Asia-Europe fiber-optic cable through Iran; additional international service is available by microwave radio relay and landline

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