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Armenia

Welcome to the price transmission page for Armenia. This page enables you to look into the country and its crops more specifically to gain an understanding of the level of risk and also, to view its historic warning periods per commodity. Select a time range or a specific date to view the data in more detail.

Armenia

Historic Warnings per Commodity

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Background information

As part of the Soviet era, Armenia traded excessively its modern and industrial products in exchange for raw materials and energy with its sister republics. Since the collapse of the central planning system however, the country has opened its market and borders only slightly which results in a small export base. The isolated country is moreover heavily dependent on Russia. Key sectors of the Armenian economy are under the management of Russia. Corruption remains widespread despite some recent improvements in tax administration.

The agricultural structure shifted from large industrial companies to small-scale farming. The sector nowadays contributes to almost one-quarter of GDP, employing nearly two-fifths of the total workforce. About three-fifths of the land area is used for agriculture, growing fruit (especially grapes) and vegetables. Due to the incapacity of fulfilling the domestic cereals demand, Armenia is a net cereals importer for a share amounting to about half of the total demand.

Scoring 0.733 on the HDI (2014), Armenia displays a high level of human development. However, further steps have to be taken in order to improve food security, given that almost one out of five children under the age of five is stunted. Poverty is a moderate issue for Armenia even if almost 2% of the total population is living in extreme poverty.