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Economy of Armenia vs Bangladesh compared: GDP & Debt

Updated on by Georank team

Armenia has a GDP of $26B compared to $450B for Bangladesh, ranking 114/197 and 36/197 by economy size, respectively.

Armenia has $13B in government debt (50% of GDP), compared to $184B (41% of GDP) in Bangladesh.

Armenia vs Bangladesh GDP by year

Armenia
Bangladesh
1x
Year GDP, current $
Armenia Bangladesh
2024 $25,955,275,380 $450,119,432,069
2023 $24,185,982,216 $437,415,333,018
2022 $19,513,506,553 $460,131,689,083
2021 $13,878,908,629 $416,271,647,911
2020 $12,641,698,583 $373,979,442,362
2019 $13,619,290,539 $351,231,654,604
2018 $12,457,940,695 $321,362,752,442
2017 $11,527,458,709 $293,732,446,625
2016 $10,546,136,236 $265,224,515,675
2015 $10,553,337,518 $195,146,608,978
2014 $11,609,513,247 $172,886,611,654
2013 $11,121,464,437 $149,998,957,434
2012 $10,619,320,683 $133,310,747,603
2011 $10,142,111,825 $128,607,482,310
2010 $9,260,285,756 $115,275,540,051
2009 $8,647,937,081 $102,475,158,191
2008 $11,662,040,714 $91,636,997,371
2007 $9,206,301,270 $79,611,644,975
2006 $6,384,452,067 $71,795,736,172
2005 $4,900,469,511 $69,476,001,239
2004 $3,576,615,240 $65,108,544,250
2003 $2,807,061,009 $60,158,929,188
2002 $2,376,335,048 $54,724,081,491
2001 $2,118,467,913 $53,991,289,844
2000 $1,911,563,669 $53,369,787,319
1999 $1,845,482,173 $51,270,569,884
1998 $1,893,726,437 $49,984,559,471
1997 $1,639,492,445 $48,244,309,133
1996 $1,596,968,946 $46,438,484,108
1995 $1,468,317,435 $37,939,748,769
1994 $1,315,158,637 $33,768,660,883
1993 $1,201,312,829 $33,166,519,418
1992 $1,272,835,453 $31,708,874,594
1991 $2,069,870,130 $30,957,483,950
1990 $2,256,863,449 $31,598,340,778
1989 - $28,781,715,189
1988 - $26,579,005,558
1987 - $24,298,032,258
1986 - $21,774,033,333
1985 - $22,278,423,077
1984 - $18,920,840,000
1983 - $17,609,048,822
1982 - $18,525,399,202
1981 - $20,249,694,002
1980 - $18,138,049,096
1979 - $15,565,480,322
1978 - $13,281,767,143
1977 - $9,651,149,302
1976 - $10,117,113,333
1975 - $19,448,348,073
1974 - $12,512,460,520
1973 - $8,086,725,729
1972 - $6,288,245,867
1971 - $8,751,843,188
1970 - $8,992,722,167
1969 - $8,471,006,438
1968 - $7,483,685,771
1967 - $7,253,575,688
1966 - $6,439,687,854
1965 - $5,906,636,792
1964 - $5,386,054,833
1963 - $5,319,458,563
1962 - $5,081,413,542
1961 - $4,817,580,375
1960 - $4,274,894,083

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/bangladesh | CC BY

GDP per capita in Armenia vs Bangladesh by year

Armenia
GDP per capita

GDP per capita, PPP
Bangladesh
GDP per capita

GDP per capita, PPP
1x
Year Current $
Armenia Bangladesh
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,556 $22,823 $2,593 $9,647
2023 $8,159 $21,534 $2,551 $9,148
2022 $6,572 $19,161 $2,716 $8,451
2021 $4,685 $15,922 $2,483 $7,441
2020 $4,269 $14,706 $2,249 $6,641
2019 $4,597 $14,976 $2,130 $6,047
2018 $4,196 $12,877 $1,965 $5,490
2017 $3,869 $12,066 $1,811 $4,883
2016 $3,524 $10,570 $1,649 $4,579
2015 $3,512 $9,757 $1,224 $4,212
2014 $3,852 $9,736 $1,094 $3,973
2013 $3,680 $9,455 $958 $3,691
2012 $3,512 $8,943 $860 $3,434
2011 $3,350 $7,624 $837 $3,051
2010 $3,041 $7,095 $757 $2,834
2009 $2,821 $6,812 $679 $2,675
2008 $3,778 $7,827 $613 $2,555
2007 $2,963 $7,137 $538 $2,388
2006 $2,042 $6,073 $490 $2,195
2005 $1,557 $5,172 $480 $2,020
2004 $1,130 $4,377 $456 $1,862
2003 $882 $3,836 $427 $1,746
2002 $743 $3,282 $394 $1,659
2001 $660 $2,844 $395 $1,598
2000 $593 $2,531 $397 $1,512
1999 $583 $2,377 $388 $1,430
1998 $590 $2,239 $386 $1,373
1997 $505 $2,040 $379 $1,315
1996 $487 $1,922 $372 $1,261
1995 $444 $1,767 $309 $1,206
1994 $391 $1,591 $280.6 $1,145
1993 $348 $1,440 $280.8 $1,099
1992 $356 $1,492 $273.5 $1,045
1991 $573 $2,477 $272.1 $987
1990 $635 $2,760 $283.1 $941
1989 - - $263 -
1988 - - $247.9 -
1987 - - $231.5 -
1986 - - $212.1 -
1985 - - $222.2 -
1984 - - $193.4 -
1983 - - $184.7 -
1982 - - $199.6 -
1981 - - $224.2 -
1980 - - $206.1 -
1979 - - $181.1 -
1978 - - $158.3 -
1977 - - $117.9 -
1976 - - $126.7 -
1975 - - $249.8 -
1974 - - $165 -
1973 - - $109.7 -
1972 - - $87.8 -
1971 - - $124.5 -
1970 - - $130.2 -
1969 - - $125.9 -
1968 - - $114.4 -
1967 - - $114.2 -
1966 - - $104.4 -
1965 - - $98.6 -
1964 - - $92.6 -
1963 - - $94.1 -
1962 - - $92.6 -
1961 - - $90.4 -
1960 - - $82.5 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/bangladesh | CC BY

Armenia's GDP per capita is $8,556, ranking 90/197, compared to $2,593 in Bangladesh, ranking 146/197. Adjusted for purchasing power (GDP per capita PPP), Armenia ranks 86th at $22,823, while Bangladesh ranks 135th at $9,647.

Economic indicators

Armenia Bangladesh
Gross domestic product
$26B
2024
$450B
2024
GDP rank
114/197
2024
36/197
2024
GDP growth
5.9%
2023-2024
4.22%
2023-2024
GDP per capita
$8,556
2024
$2,593
2024
GDP per capita rank
90/197
2024
146/197
2024
GDP per capita, PPP
$22,823
2024
$9,647
2024
GDP per capita PPP rank
86/197
2024
135/197
2024
Government debt
$13B
2024
$184B
2024
Debt-to-GDP ratio
50%
2024
41%
2024
Government debt per person
$4,275
2024
$1,063
2024
Government debt per person rank
89/185
2024
139/185
2024
Average annual personal income after taxes
$6,687
2026
$2,222
2026
Market capitalization of domestic companies
$4.85B
2024
$87.9B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.9%
2023
25.5%
2022
Income share by poorest 10%
4%
2023
3.7%
2022
Government expenditure, % of GDP
29%
2024
12%
2024
Consumer prices inflation
0.4%
2023-2024
9.7%
2023-2024
Central bank interest rate
6.75%
2025
10%
2024
Unemployment rate
8.3%
2023
3.64%
2024
Population
2989841
178415186

Spending and national debt comparison by year

Armenia
Spending

Debt
Bangladesh
Spending

Debt
1x
Year % of GDP
Armenia Bangladesh
Government spending Government debt Government spending Government debt
2024 29% 50% 12% 41%
2023 26.9% 50.4% 12.6% 39.7%
2022 26.4% 49.3% 13% 37.9%
2021 28.7% 63.6% 12.9% 35.6%
2020 30.6% 67.3% 13.3% 34.5%
2019 24.9% 54.2% 13.6% 32%
2018 24% 56.1% 13% 29.6%
2017 26% 58.1% 12.2% 28.3%
2016 27% 56.5% 11.6% 27.7%
2015 26.3% 48.3% 11.5% 28.2%
2014 24% 43.6% 11.7% 28.7%
2013 23.8% 41.6% 12.1% 28.3%
2012 22.4% 41.2% 11.7% 29.1%
2011 25% 42% 11.5% 29.4%
2010 26.2% 39.7% 10.6% 29.6%
2009 28.6% 40.2% 10.6% 33%
2008 22.2% 16.1% 11.5% 33.9%
2007 22.4% 16.1% 9.63% 35%
2006 20% 18.7% 10.1% 35.3%
2005 19.9% 24.4% 10.3% 35.6%
2004 - 26.4% 9.88% 36.6%
2003 - 33% 10.2% 37%
2002 - 38.2% 10.4% 38.9%
2001 - 38.1% 10.7% 37.1%
2000 - 39.6% 9.76% 31.2%
1999 - 39.2% 8.66% 32.7%
1998 - 45.2% 9.82% 31.1%
1997 - 46.5% 9.89% 29.1%
1996 - 40.8% 9.79% 31%
1995 - - 10.5% 32.9%
1994 - - 10% 35.5%
1993 - - 9.74% 34.1%
1992 - - 8.8% 33.1%
1991 - - 8.86% 31.8%
1990 - - 9.14% 31.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20).

GeoRank.org/economy/armenia/bangladesh | CC BY

In 2024, Armenia's government spending was $7.53B, accounting for 29% of its GDP, while Bangladesh spent $54.2B, or 12% of GDP.

Debt-to-GDP ratio is 50% in Armenia and 41% in Bangladesh, ranking 108/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Armenia

Bangladesh
1x
Year Deficit/surplus, % of GDP
Armenia Bangladesh
2024 -3.69% -3.69%
2023 -2.02% -4.39%
2022 -2.11% -4.53%
2021 -4.58% -3.56%
2020 -5.4% -4.84%
2019 -0.98% -5.41%
2018 -1.75% -4.07%
2017 -4.79% -4.17%
2016 -5.63% -3.16%
2015 -4.84% -3.29%
2014 -1.94% -2.62%
2013 -1.59% -2.86%
2012 -1.49% -2.56%
2011 -2.87% -2.96%
2010 -4.98% -2.23%
2009 -7.69% -2.68%
2008 -1.76% -3.36%
2007 -2.33% -1.86%
2006 -1.95% -2.15%
2005 -1.98% -2.4%
2004 - -2.21%
2003 - -1.96%
2002 - -2.3%
2001 - -3.44%
2000 - -2.5%
1999 - -1.35%
1998 - -2.2%
1997 - -1.94%
1996 - -2.01%
1995 - -0.38%
1994 - 0.03%
1993 - 0.43%
1992 - 0.36%
1991 - 0.44%
1990 - -0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/armenia/bangladesh | CC BY

In 2024, Armenia's government deficit, the difference between spending and revenue, was $958M, equivalent to 3.69% of GDP. This compares to Bangladesh's deficit of $16.6B, or 3.69% of GDP.

Over the past 20 years, Armenia recorded a fiscal deficit in 20 of those years, while Bangladesh ran a deficit in 20 years. On average, Armenia posted an annual deficit equal to 3.22% of GDP, compared to deficit of 3.34% of GDP for Bangladesh.

Inflation comparison by year

Inflation
Armenia

Bangladesh
1x
Year Consumer prices inflation
Armenia Bangladesh
2024 0.4% 9.7%
2023 2% 9%
2022 8.8% 6.1%
2021 7.5% 5.6%
2020 1.5% 5.6%
2019 1.5% 5.5%
2018 2.5% 5.8%
2017 0.9% 5.4%
2016 -1.4% 5.9%
2015 3.7% 6.4%
2014 3% 7.3%
2013 5.7% 6.8%
2012 2.5% 8.9%
2011 7.5% 8.8%
2010 8.2% 7.3%
2009 3.5% 6.7%
2008 9.1% 9.9%
2007 4.4% 7.2%
2006 2.9% 7.2%
2005 0.6% 6.5%
2004 6.9% 8.1%
2003 4.7% 3.9%
2002 1% 2.4%
2001 3.2% 1.8%
2000 -0.8% 3.6%
1999 0.7% 8.9%
1998 8.7% 6.7%
1997 14% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/armenia/bangladesh | CC BY

Over the past 28 years, Armenia has recorded an average annual inflation rate of 4.04%, compared with 6.42% in Bangladesh. In 2024, inflation was 0.4% in Armenia and 9.7% in Bangladesh.

Top exports between countries

Armenia
Export category Export value
Machinery & equipment $1K
Processed food, beverages & tobacco $1K
Bangladesh
Export category Export value
Processed food, beverages & tobacco $839K
Chemicals & pharma $39K

Balance of trade

Armenia Bangladesh
Current account balance
-$1.19B
2024
$1.43B
2024
Current account balance ranking
128/190
2024
52/190
2024
Current account balance, % of GDP
-4.6%
2024
+0.32%
2024
Goods imports
$15.4B
2024
$63.8B
2024
Goods exports
$13.2B
2024
$47.3B
2024
Service imports
$4.39B
2024
$12.3B
2024
Service exports
$5.86B
2024
$7.47B
2024
Imports of goods and services, % of GDP
76.4%
2024
16.3%
2024
Exports of goods and services, % of GDP
73.6%
2024
10.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Armenia Bangladesh
Economic freedom 67.1 54.8
Economic freedom ranking 58/197 131/197
Property rights 48.6 32.1
Government integrity 51.8 22.7
Judicial effectiveness 31.4 36.7
Tax burden 87.2 79.9
Government spending 77.5 95.3
Fiscal health 84.1 68.4
Business freedom 72.9 52.7
Labor freedom 59.2 50.5
Monetary freedom 77.2 65.8
Trade freedom 75 63
Investment freedom 70 50
Financial freedom 70 40

Economic freedom comparison by year

Armenia
Bangladesh
1x
Year Economic freedom index
Armenia Bangladesh
2026 67.1 54.8
2025 65.4 54.7
2024 64.9 54.4
2023 65.1 54.4
2022 65.3 52.7
2021 71.9 56.5
2020 70.6 56.4
2019 67.7 55.6
2018 68.7 55.1
2017 70.3 55
2016 67 53.3
2015 67.1 53.9
2014 68.9 54.1
2013 69.4 52.6
2012 68.8 53.2
2011 69.7 53
2010 69.2 51.1
2009 69.9 47.5
2008 69.9 44.2
2007 68.6 46.7
2006 70.6 52.9
2005 69.8 47.5
2004 70.3 50
2003 67.3 49.3
2002 68 51.9
2001 66.4 51.2
2000 63 48.9
1999 56.4 50
1998 49.6 52
1997 46.7 49.9
1996 42.2 51.1
1995 - 40.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/armenia/bangladesh | CC BY

The Economic Freedom Index for Armenia is 67.1, ranking 58/197, compared to 54.8 for Bangladesh, ranking 131/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Armenia Bangladesh
Services, % of GDP
62%
2024
51.4%
2024
Industry, % of GDP
22.9%
2024
34.1%
2024
Agriculture, forestry, and fishing, % of GDP
7.81%
2024
11.2%
2024
GNI, Atlas method
$23.7B
2024
$490B
2024
GNI per capita, PPP
$22,020
2024
$10,060
2024
Total reserves including gold
$3.69B
2024
$21.4B
2024
Total reserves ranking
111/177
2024
61/177
2024
Net foreign direct investment
-$74.8M
2024
-$1.49B
2024
Net inflows of foreign direct investment
$132M
2024
$1.31B
2024
Net outflows of foreign direct investment
$56.8M
2024
$34.1M
2024
Servicing debt to the IMF, % of GNI
7.26%
2024
1.83%
2024
Poverty at national poverty lines
23.7%
2023
18.7%
2022
Gross capital formation, % of GDP
23.8%
2024
30.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/armenia/bangladesh | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20)
  6. TradeMap (2015–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.