Modex charts

At the end of 2022, investments in RA government (treasury) bonds amounted to AMD 1.4 trillion, which is about twice as high as at the beginning of the year. Investments by commercial banks recorded a sharp increase (+ AMD 390 billion or 86%)։ Investments carried out by non-bank residents grew by AMD 107.1 billion or […]

According to the 2022 data, 60 IT companies have been included in the list of Armenia’s largest 1000 taxpayers, These 60 IT companies paid about AMD 51 billion in taxes and fees or 2.7% of total income supervised by the State Revenue Committee (SRC). Note: The taxes paid by each company is calculated as the […]

Following the Russia-Ukraine war, RA commercial banks recorded a large inflow of currency and deposits ($980 million), as well as a sharp increase in net profit, as a result of this banks were faced with the problem of allocating free assets, considering the limited possibilities of capital absorption of Armenian market. At the end of […]

On November 9, 2022, Fast Credit acquired the Central Bank of RA license to carry out banking activities and registered as “Fast Bank” CJSC. Fast Bank’s net profit in 2022 was AMD 7.2 billion, compared to AMD 4.8 billion in 2021.

In January-September 2022, FDI inflow to the real sector of the Armenian economy amounted to $708.2 million, 36.2% more than last year. It should be mentioned that the increase of FDI inflow in AMD terms equaled 19.4%, meaning that the 36.2% USD increase was largely due to AMD appreciation. In Q1-Q3 2022, Russia had the […]

According to the 2021 data, about 457.3 thousand people are employed in SMEs, or 68.1% of total registered employees. In 2021, the share of SME employees increased by 1% compared to the previous two years. In 2021, 16.9% of SME employees were employed in the trade sector.

In January-September 2022, 67 out of the top 1000 biggest taxpayers in Armenia are IT companies, In January-September 2022, the 67 IT companies from the list paid AMD 36.3 billion in taxes or 2.6% of the total income supervised by the State Revenue Committee (SRC). Note: The taxes paid by each company is calculated as […]

In January-September 2022, RA banks registered AMD 188 billion net profit, which is 3 times higher than last year. Ardshinbank registered the biggest profit with AMD 41.1 billion. All banks worked with profit, however, in the case of 3 out of 17 commercial banks, a decrease in net profit was recorded.

As of July 2022, there are 2195 companies (individual entrepreneurs, LLC, CJSC) in the IT sector of Armenia, in contrast to 1554 as of February. 788 enterprises have only 1 employee and only 10 enterprises have 250 and more employees. It is worth mentioning that 2 out of these 10 enterprises were relocated to Armenia […]

As of July 2022, there are 5924 foreign citizens employed in Armenia’s IT sector, 84% of which or 4949 employees are Russian citizens, 4% are Iranians, and 2% are Belarusian citizens. As a result of the Russian-Ukrainian war, a lot of Russian citizens moved to Armenia, particularly, 4653 out of 4949 Russian citizens employed in […]

As of July 2022, there are 2195 enterprises (individual entrepreneurs, LLC, CJSC) represented in the RA IT services sector, of which 788 have 1 employee (including those individual entrepreneurs who do not have hired employees). Due to the Russian-Ukrainian war, many companies have moved from Russia to Armenia, in particular, 5 of the 20 largest employers […]

In June 2022, the number of formal jobs increased by 33,482, or 5.1%, compared to the last year. During the observed period, the jobs generated by SMEs increased by 8.7%, and the contribution of SMEs to the growth of formal jobs was 21,638 or 3.3%, If in June 2021, the share of SMEs in formal […]