: Ambassador Arman KIRAKOSIAN
chancery: 2225 R Street NW, Washington, DC 20008
telephone: (202) 319-1976
FAX: (202) 319-2982
consulate(s) general: Los Angeles

Diplomatic representation from the US:
chief of mission: Ambassador Michael LEMMON
embassy: 18 General Bagramian Avenue, Yerevan
mailing address: American Embassy Yerevan, Department of State,
Washington, DC 20521-7020
telephone: (2) 151-551
FAX: (2) 151-550

Flag description: three equal horizontal bands of red (top), blue, and
orange

@Armenia:Economy

Economy - overview: Under the old Soviet central planning system,
Armenia had developed a modern industrial sector, supplying machine
tools, textiles, and other manufactured goods to sister republics in
exchange for raw materials and energy. Since the implosion of the USSR
in December 1991, Armenia has switched to small-scale agriculture away
from the large agroindustrial complexes of the Soviet era. The
agricultural sector has long-term needs for more investment and
updated technology. The privatization of industry has been at a slower
pace, but has been given renewed emphasis by the current
administration. Armenia is a food importer, and its mineral deposits
(gold, bauxite) are small. The ongoing conflict with Azerbaijan over
the ethnic Armenian-dominated region of Nagorno-Karabakh and the
breakup of the centrally directed economic system of the former Soviet
Union contributed to a severe economic decline in the early 1990s. By
1994, however, the Armenian Government had launched an ambitious
IMF-sponsored economic program that has resulted in positive growth
rates in 1995-99. Armenia also managed to slash inflation and to
privatize most small- and medium-sized enterprises. The chronic energy
shortages Armenia suffered in recent years have been largely offset by
the energy supplied by one of its nuclear power plants at Metsamor.
Continued Russian financial difficulties have hurt the trade sector
especially, but have been offset by international aid, domestic
restructuring, and foreign direct investment.

GDP: purchasing power parity - $9.9 billion (1999 est.)

GDP - real growth rate: 5% (1999 est.)

GDP - per capita: purchasing power parity - $2,900 (1999 est.)

GDP - composition by sector:
agriculture: 40%
industry: 25%
services: 35% (1999 est.)

Population below poverty line: 45% (1999 est.)

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

Infla