n to outright
warfare, the strife has included interdiction of Armenian imports on the
Azerbaijani railroads and expensive airlifts of supplies to beleagured
Armenians in Nagorno-Karabakh. An earthquake in December 1988 destroyed
about one-tenth of industrial capacity and housing, the repair of which has
not been possible because the supply of funds and real resources has been
disrupted by the reorganization and subsequent dismantling of the central
USSR administrative apparatus. Among facilities made unserviceable by the
earthquake are the Yerevan nuclear power plant, which had supplied 40% of
Armenia's needs for electric power and a plant that produced one-quarter of
the output of elevators in the former USSR. Armenia has some deposits of
nonferrous metal ores (bauxite, copper, zinc, and molybdenum) that are
largely unexploited. For the mid-term, Armenia's economic prospects seem
particularly bleak because of ethnic strife and the unusually high
dependence on outside areas, themselves in a chaotic state of
transformation.
GDP:
$NA, per capita $NA; real growth rate --10% (1991)
Inflation rate (consumer prices):
91%
Unemployment rate:
NA%
Budget:
revenues $NA; expenditures $NA, including capital expenditures of $NA
Exports:
$176 million (f.o.b., 1990)
commodities:
machinery and transport equipment, ferrous and nonferrous metals, and
chemicals (1991)
partners:
NA
Imports:
$1.5 billion (c.i.f., 1990)
commodities:
machinery, energy, consumer goods (1991)
partners:
NA
External debt:
$650 million (December 1991 est.)
Industrial production:
growth rate --9.6% (1991)
Electricity:
NA kW capacity; 10,433 million kWh produced, about 3,000 kWh per capita
(1990)
Industries:
diverse, including (in percent of output of former USSR) metalcutting
machine tools (6.7%), forging-pressing machines (4.7%), electric motors
(8.7%), tires (2.1%), knitted wear (5.6%), hosiery (2.3%), shoes (2.2%),
silk fabric (5.3%), washing machines (2.0%); also chemicals, trucks,
watches, instruments, and microelectronics

:Armenia Economy

Agriculture:
only 10% of land area is arable; employs 18% of labor force; citrus, cotton,
and dairy farming; vineyards near Yerevan are famous for brandy and other
liqueurs
Illicit drugs:
illicit producer of cannabis mostly for domestic cons