Business setup

Useful info



Weather in Armenia

Exchange Rates of Armenian Dram (AMD)

For 15 years, The Wall Street Journal and The Heritage Foundation have been measuring countries' commitment to free-market capitalism in the "Index of Economic Freedom." The 2009 Index, published this week, provides strong evidence that the countries that maintain the freest economies do the best job of promoting prosperity for all citizens.

According to this index

Armenia's world rank is 31, the regional rank is 18 of 43 or 1 in CIS countries

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Detailed report

Details on Armenia


National Armenian Atlas

(electronic free version)



Dear Member of the ACCC you will find an important information on Armenia, Armenian regulations, different opportunities and offers as well information important for the businessmen and for travellersin this section.


To place an ad or a link on this section please contact our office in Montreal: info@armcanchamber.com



Armenia is a country on the southern side of the Caucasus plateau at the crossroads of Europe and Asia.

Neighboring Countries 
In the North: Georgia 
In the East: Azerbaijan 
In the South: Iran 
In the South -West: Nakhijevan (Azerbaijan) 
In the West: Turkey 

The climate of Armenia is continental. The average temperature fluctuates between +18C and + 30C in July-August and between - 30C and +10C in January.The type of land is as follows: 37.2 % mountains, 29.8 % pasture, 21% arable land and 12% woodland.

Armenian mountains are rich in iron, molybdenum, gold, lead, silver, clay, limestone, as well as semi-precious and ornamental stones. Armenia is rich in natural mineral waters too. There are hundreds of natural wells throughout the country. There are 10 natural lakes, 5 canyons and numerous springs and torrents. Lake Sevan is the world’s largest highland fresh water lake (1,400 square kilometers). The country’s highest peak is Mount Aragats (4,090 meters).


OFFICIAL NAME Republic of Armenia
HEAD OF STATE President - Serzh Sargsyan
HEAD OF GOVERNMENT Prime Minister - Tigran Sargsyan

National Assembly

Chairman - Hovik Abrahamyan

MAJOR CITIES Gyumri, Vanadzor, Ashtarak, Artashat, Goris
TOTAL LAND AREA 29,800 square kilometers
POPULATION 3,2 million
LITERACY (%) 99%
RELIGION Christian (adopted 301 A.D.), Armenian Apostolic Church
CURRENCY Dram (AMD), introduced in 1993


Based on current official estimates, Armenia’s population is 3.2 million with an annual growth rate of 1.4 %. Ethnically, Armenia is a homogeneous country with 96% Armenians. The next biggest ethnic group is Russian with 1.5%. Other ethnic groups are: Assyrians, Greeks, Jews, Kurds, Ukrainians, Yezidis, etc.

Labour Force

The majority of people are between the ages of 17 and 59 (64.6%), among which the level of education is more than satisfactory. Education continues to be one of the main values in Armenian society. Today, there are about 50 universities with more than 77,000 students. 18 of the universities are state owned and 8 are foreign: American University of Armenia, French University, European University and 5 Russian Universities.

Labour Force quality in Armenia

The unemployment rate was reduced to 7.4% in 2006 as opposed to 8.2% registered in 2005. The combination of graduates and the unemployment rate means that there is a supply of highly qualified people available today in Armenia. According to a UNDP survey of the age group 13 to 33, over 30% have the proficiency to conduct business in English language.

Armenian Diaspora

Armenia has a worldwide Diaspora comprising about 5 million. The largest Diaspora Communities are in the USA, France, Germany and Russia. The close relation with huge Diaspora assists Armenians to be knowledgeable about the rules of doing business in Western and Eastern style.


Armenian is the official language and is spoken by 99% of the population. Russian dominates as the second language. English is the third spoken language as a consequence of the country’s integration into the world economy.

State Structure

Due to the Constitution adopted through a national referendum in 1995, Armenia is independent and democratic with a presidential form of government. The executive body is the Government of Armenia headed by the Prime Minister, who is appointed by the President based on suggestion of leading parties in the National Assembly. The National Assembly is the legislative body of the country.

Judicial System

The Judicial System of Armenia is represented by the Courts of First Instance, the Courts of Appeal, and the Court of Cassation. The Constitutional Court decides on compliance of the decrees of the National Assembly, the President, and the Government with the Constitution of Armenia.

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Interactive map of Armenia. (Armenia Information website www.armeniainfo.am)