Information Technology Sector in Armenia 2023

  • In 2023 the turnover of the IT sector in Armenia at current prices amounted to AMD 837 billion, a AMD 252  billion or 43% more than in the previous year.
  • In 2023 the turnover of the largest IT company operating in Armenia was about AMD 29.4 billion,  28.6% up from a year before.
  • Overall, in 2023 11,671 economic entities operated in the IT sector, of which 66% were individual entrepreneurs. Moreover, only 7,813 of 11,671 entities were operating at the end of the year.
  • As of the end of 2023, there were 33,980 salaried or contract employees in the IT sector. Additionally, the sector employed 4,834 individual entrepreneurs.

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