e of its nuclear power plants at Metsamor. The Russian
financial crisis generated concerns about Armenia's economic
performance in 1998. Although inflation dropped to 10% and GDP grew
about 6%, the industrial sector remained moribund. Much of Armenia's
population remains heavily dependent on remittances from relatives
abroad, and remittances from Russia fell off sharply in 1998.

GDP: purchasing power parity--$9.2 billion (1998 est.)

GDP--real growth rate: 6% (1998 est.)

GDP--per capita: purchasing power parity?$2,700 (1998 est.)

GDP--composition by sector:
agriculture: 35%
industry: 30%
services: 35% (1998 est.)

Population below poverty line: 50% (1998 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 10% (1998 est.)

Labor force: 1.6 million (1997)

Labor force--by occupation: manufacturing, mining, and
construction 25%, agriculture 38%, services 37%

Unemployment rate: 20% (1998 est.)

Budget:
revenues: $322 million
expenditures: $424 million, including capital expenditures of $80
million (1998 est.)

Industries: much of industry is shut down; metal-cutting machine
tools, forging-pressing machines, electric motors, tires, knitted
wear, hosiery, shoes, silk fabric, washing machines, chemicals,
trucks, watches, instruments, microelectronics

Industrial production growth rate: NA%

Electricity--production: 7.6 billion kWh (1996)

Electricity--production by source:
fossil fuel: 46.05%
hydro: 26.32%
nuclear: 27.63%
other: 0% (1996)

Electricity--consumption: 7.6 billion kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: fruit (especially grapes), vegetables;
livestock

Exports: $230 million (f.o.b., 1998 est.)

Exports--commodities: gold and jewelry, aluminum, transport
equipment, electrical equipment, scrap metal

Exports--partners: Iran, Russia, Turkmenistan, Georgia

Imports: $840 million (c.i.f., 1998 est.)

Imports--commodities: grain, other foods, fuel, other energy

Imports--partners: Iran, Russia, Turkmenistan, Georgia, US, EU

Debt--external: $820 million (of which $75 million to Russia)
(1997 est.)

Economic aid--recipient: $245.5 million (1995)

Currency: 1 dram = 100 luma

Exchange rates: dram per US$1--535.62 (January 1999), 504.92
(1998), 490.85 (1997), 414.04 (1996), 405.91 (19