In-depth country-focused analysis on Armenia's economic, political and operational risk environment, complemented by detailed sector insight


Our comprehensive assessment of Armenia's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Armenia, as well as the latest industry developments that could impact Armenia's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Armenia before your competitors.

Armenia Country Risk

BMI View:

Core Views

  • Political tensions in the South Caucasus will remain high over the coming years as increased Russian intervention in Georgia's breakaway territories fuels concerns that Russia will fully annex Abkhazia and South Ossetia. Meanwhile, Azerbaijani-Armenian relations will remain strained over the conflict surrounding Nagorno-Karabakh after the conflict escalated in April 2016.

  • Armenia's economy will recover in 2017 primarily due to recovering remittances inflows from Russia and rising copper prices, the country's main export. Nevertheless, being part of the Russian-led Eurasian Economic Union (EEU) will hurt growth over the years ahead.

  • Georgian real GDP growth will slow over the next two years relative to the 5.9% average growth achieved between 2011 and 2015 due to exposure to Russia's economic crisis...

Armenia Industry Coverage (1)

Armenia Telecommunications

BMI View:

BMI View: Armenia's telecoms market is small and highly saturated thanks to early liberalisation. There are few opportunities for new entrants, given the dominance of incumbent ArmenTel in the wireline voice arena and VivaCell-MTS in the mobile market. U-COM , which has a large Internet and telephony user base and gained a mobile licence in 2013, has agreed to acquire Orange , a move that will create a powerful converged service provider and has already unsettled the incumbent.

Premium Difficult To Sell
Armenia Mobile Market Forecasts

Latest Armenia Articles

Latest Armenia Blogs

  • Russia's decision to intervene in Crimea, Ukraine, has several geopolitical...


Download PDF

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

Thank you for your interest

You will shortly receive your free executive summary by email.