IT companies
Top IT taxpayers | 2023-2024

In 2024, 80 IT companies were among the 1,000 largest taxpayers, contributing a total of AMD 84.4 billion to the state budget. This marks an increase of AMD 452 million compared to the contributions of IT companies among the 1,000 largest taxpayers in 2023. The IT companies included in the list of 1000 largest taxpayers […]

29.01.25
5 min read
Armenia lags behind many peers in AI preparedness

Armenia ranks 70 among 165 countries in 2023 AI Preparedness Index (AIPI). With a score of 0.49, Armenia slightly outperforms countries such as Kyrgyzstan (0.43), Belarus (0.47), and Azerbaijan (0.47). Nonetheless, it trails behind countries like Estonia (0.76), Spain (0.65), Portugal (0.65), the UAE (0.63), and Romania (0.58). AI Preparedness Index assesses nations’ readiness to […]

13.01.25
3 min read
Case study
Increasing the Economic Resilience of Armenia

Modex advisory, as part of the “Enhancing Economic Stability in Armenia, Georgia, and Moldova” project, coordinated by the Polish CASE – Center for Social and Economic Research, has developed a comprehensive report aimed at identifying the sources of Armenia’s vulnerabilities from macroeconomic, structural, and institutional perspectives. The report examines Armenia’s recent domestic and foreign political […]

07.01.25
4 min read
GTCI
Armenia Outperforms Its Income Group Average in Talent Competitiveness

Armenia ranks 55 among 134 countries in 2023 Global Talent Competitiveness Index (GTCI). Armenia ranks relatively high in attracting (41st) and retaining (44th) talents, while ranks low in growing (91st) and enabling (70th) them With a score of 46.67, Armenia surpasses countries such as Türkiye (40.20), Kazakhstan (38.58), and Azerbaijan (46.19), as well as the […]

30.12.24
4 min read
PMP_Armenia
Armenia leads CIS countries by the number of active PMP certificate holders per million people

As of October 2024, the number of PMP-certified professionals in Armenia reached 429, a 64% increase compared with July 2022. In 2024 Armenia leads CIS countries by the number of active PMP certificate holders per million population.

30.10.24
2 min read
net profit banks armenia
Net profits of RA banks | Q1-Q3 2023/2024

In January-September 2024, RA banks registered AMD 268 billion net profit, which is about 25% more than last year. The highest profit was registered by Ardshinbank (AMD 83 billion). All banks made a profit, but 3 out of 18 commercial banks recorded a decrease in net profit.

16.10.24
3 min read
cfa_certificates
Armenia leads CIS countries in CFA charterholders per million people

In 2024, the number of professionals with a CFA certificate in Armenia reached 61, an increase of 16 or 26.2% compared to 2020. As in 2020, in 2024 Armenia continues to lead CIS countries in the number of CFA charterholders per million population.

04.10.24
2 min read
tech-startup
Top 10 Armenia-born Tech Startups by Funding Size

Over the last 10 years, the top 10 Armenia-born tech startups by funding size raised around $490 million in funds, with Picsart accounting for 39.8% or $195 million. Among these startups, only Picsart and CodeSignal have raised Series C funding, securing $130 million and $50 million, respectively․ In 2024, EasyDMARC ($20 million), Podcastle ($13.5 million), […]

19.09.24
4 min read
it companies armenia 2024 h1
Top IT taxpayers | H1 2022-2023

In January-June 2024, 79 IT companies were included in the list of 1000 large taxpayers, and they provided a net income of AMD 45.9 billion for the state budget, which is AMD 123 million less than in the same period of 2023. The IT companies included in the list of 1000 largest taxpayers together provided […]

29.07.24
5 min read
banks net profit
Net profits of RA banks | H1 – 2023/2024

In January-June 2024, RA banks registered AMD 172 billion net profit, which is about 1.2 times higher than last year. The highest profit was registered by Ardshinbank (AMD 50 billion). All banks made a profit, but 4 out of 18 commercial banks recorded a decrease in net profit.

16.07.24
3 min read
Information Technology Sector in Armenia 2023

You can learn more about the IT sector of Armenia in the report prepared by Modex advisory company.

02.04.24
5 min read
IT-taxes
Top IT taxpayers 2022-2023

Note: The taxes paid by each company is calculated as the difference between the total amount paid by the company and the amounts returned to the unified account in terms of VAT and excise tax.

26.01.24
6 min read