Armenia lags behind its neighbors in GDP indicator

The World Bank has published a new report on the economies of the countries of the world in 2023. In the list of the world’s largest economies, Armenia took the 113th position.

According to the World Bank, the nominal GDP of the country in 2023 was $24.2 billion. Armenia lags behind its neighbors in this indicator. Georgia took 108th place ($30.5 billion), Azerbaijan is in 83rd place ($72.5 billion), Turkey is in 18th place ($1.1 trillion), and Iran took 36th place ($401.5 billion).

At the same time, Armenia’s economy continues to record the highest growth rates compared to its neighboring markets.