Wednesday, July 1, 2026 The English edition of ostwirtschaft.de Newsletter
Eastern Economy.
Economic intelligence on Eastern Europe, the Caucasus & Central Asia

Armenia vs Uzbekistan: Economic Comparison 2026

Armenia (AMD) against Uzbekistan (UZS) across 16 indicators — output, prices, rates, external position and the productive-sector view at purchasing power parity. Data: World Bank, IMF WEO, Eurostat and national central banks, refreshed automatically. More on Armenia in the data terminal · Uzbekistan terminal.

Head to head

IndicatorArmeniaUzbekistan
GDP, nominal $bn 292025 1472025
GDP at PPP, intl $bn 692024 4322024
Population, m 3.12025 37.12025
Real GDP growth 2025 7.2%2025 7.7%2025
GDP forecast 2026 (IMF) 4.5%2026f 5.8%2026f
Inflation (CPI) 3.0%2026e 7.2%2026e
Policy rate 6.50%16 Jun 14.00%17 Jun
Unemployment (ILO/WEO) 12.9%2025 4.6%2025
Current account, % GDP -4.8%2026f -4.8%2026f
Gov. debt, % GDP 56.2%2026f 32.9%2026f
Food, % of household spend 40.5%2021 33.6%2021
Remittances, % GDP 4.9%2024 13.7%2024
Credit to private sector, % GDP 71%2025 31%2025
Trade openness, % GDP 102%2025 57%2025
Price level index (US≈100) 422024 342024
Population growth 1.74%2025 1.88%2025
Green = the stronger reading where direction is unambiguous (growth ↑, inflation ↓, debt ↓, food share ↓). Inflation marked e = IMF WEO annual-average forecast where monthly data lags. Period shown per value.

Productive sectors · Sapir view

Agri %Industry %Productive shareProductive GDP, PPP $bn
Armenia 20247.822.930.7%21
Uzbekistan 202417.732.049.7%215
Goods-producing base (agriculture + industry incl. construction) valued at PPP, following Jacques Sapir's argument that services-heavy nominal GDP understates industrial economies. Source: World Bank WDI.

Trends

Quick answers

Which economy is bigger, Armenia or Uzbekistan?

At market exchange rates Uzbekistan: $147bn vs $29bn nominal GDP (2025, World Bank). At purchasing power parity: 69 intl $bn vs 432.

Whose productive base is larger?

Valued by the Sapir method (agriculture + industry incl. construction at PPP), Uzbekistan leads: $215bn vs $21bn (2024/2024, World Bank).

How high is inflation in Armenia?

3.0% expected 2026 average (IMF WEO).

How much do households in Armenia spend on food?

40.5% of consumption (2021, World Bank ICP 2021).

How high is inflation in Uzbekistan?

7.2% expected 2026 average (IMF WEO).

How much do households in Uzbekistan spend on food?

33.6% of consumption (2021, World Bank ICP 2021).

More comparisons