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Economy of Armenia vs Tanzania compared: GDP & Debt

Updated on by Georank

Armenia has a GDP of $29.2B compared to $90.1B for Tanzania, ranking 115/197 and 83/197 by economy size, respectively.

Armenia has $14.3B in government debt (49% of GDP), compared to $44.8B (49.7% of GDP) in Tanzania.

Armenia vs Tanzania GDP by year

Armenia
Tanzania
1x
Year GDP, current $
Armenia Tanzania
2025 $29,243,452,882 $90,143,496,090
2024 $25,955,275,380 $79,235,713,445
2023 $24,185,982,216 $79,030,935,638
2022 $19,513,506,553 $75,749,121,847
2021 $13,878,908,629 $70,655,628,148
2020 $12,641,698,583 $66,068,737,786
2019 $13,619,290,539 $61,026,731,926
2018 $12,457,940,695 $57,003,712,892
2017 $11,527,458,709 $53,274,884,533
2016 $10,546,136,236 $49,774,409,374
2015 $10,553,337,518 $47,413,919,817
2014 $11,609,513,247 $49,986,726,461
2013 $11,121,464,437 $45,648,857,242
2012 $10,619,320,683 $39,650,394,363
2011 $10,142,111,825 $34,657,140,096
2010 $9,260,285,756 $32,012,892,919
2009 $8,647,937,081 $29,400,573,554
2008 $11,662,040,714 $27,947,821,398
2007 $9,206,301,270 $21,860,434,823
2006 $6,384,452,067 $18,619,859,795
2005 $4,900,469,511 $18,395,383,647
2004 $3,576,615,240 $16,673,062,473
2003 $2,807,061,009 $15,211,487,709
2002 $2,376,335,048 $14,129,651,896
2001 $2,118,467,913 $13,563,990,022
2000 $1,911,563,669 $13,371,767,082
1999 $1,845,482,173 $12,704,334,196
1998 $1,893,726,437 $12,172,790,056
1997 $1,639,492,445 $11,158,197,942
1996 $1,596,968,946 $9,433,528,150
1995 $1,468,317,435 $7,631,431,840
1994 $1,315,158,637 $6,550,480,484
1993 $1,201,312,829 $6,182,872,708
1992 $1,272,835,453 $6,681,997,469
1991 $2,069,870,130 $7,197,768,159
1990 $2,256,863,449 $6,184,384,225
1989 - $6,418,799,007
1988 - $7,406,614,407
1987 - $7,824,193,222
1986 - $10,840,864,521
1985 - $15,328,295,175
1984 - $12,906,635,133
1983 - $14,049,883,809
1982 - $13,927,383,240
1981 - $13,161,540,378
1980 - $11,409,228,087
1979 - $9,804,637,491
1978 - $9,261,675,710
1977 - $7,732,598,995
1976 - $6,472,511,988
1975 - $5,729,917,840
1974 - $4,977,337,978
1973 - $4,144,104,535
1972 - $3,472,787,266
1971 - $3,050,673,517
1970 - $2,851,419,386
1969 - $5,142,066,811
1968 - $4,895,251,824
1967 - $4,565,132,048
1966 - $4,377,998,825
1965 - $3,817,226,546
1964 - $3,748,840,925
1963 - $3,456,579,293
1962 - $3,101,589,993
1961 - $2,826,179,031
1960 - $2,651,729,807

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Armenia vs Tanzania by year

Armenia
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Armenia Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $9,474 - $1,278 -
2024 $8,556 $22,823 $1,156 $4,221
2023 $8,159 $21,534 $1,186 $4,019
2022 $6,572 $19,161 $1,171 $3,800
2021 $4,685 $15,922 $1,125 $3,493
2020 $4,269 $14,706 $1,084 $3,291
2019 $4,597 $14,976 $1,031 $2,982
2018 $4,196 $12,877 $992 $2,728
2017 $3,869 $12,066 $957 $2,472
2016 $3,524 $10,570 $925 $2,435
2015 $3,512 $9,757 $911 $2,317
2014 $3,852 $9,736 $993 $2,221
2013 $3,680 $9,455 $935 $2,176
2012 $3,512 $8,943 $837 $2,083
2011 $3,350 $7,624 $753 $2,211
2010 $3,041 $7,095 $715 $2,069
2009 $2,821 $6,812 $674 $1,972
2008 $3,778 $7,827 $657 $1,908
2007 $2,963 $7,137 $528 $1,820
2006 $2,042 $6,073 $462 $1,707
2005 $1,557 $5,172 $469 $1,598
2004 $1,130 $4,377 $438 $1,482
2003 $882 $3,836 $410 $1,379
2002 $743 $3,282 $391 $1,302
2001 $660 $2,844 $385 $1,229
2000 $593 $2,531 $390 $1,164
1999 $583 $2,377 $382 $1,120
1998 $590 $2,239 $375 $1,082
1997 $505 $2,040 $353 $1,059
1996 $487 $1,922 $305 $1,026
1995 $444 $1,767 $251.2 $981
1994 $391 $1,591 $222.5 $958
1993 $348 $1,440 $218.2 $959
1992 $356 $1,492 $243.4 $955
1991 $573 $2,477 $268.8 $952
1990 $635 $2,760 $236.9 $925
1989 - - $252.3 -
1988 - - $299 -
1987 - - $326 -
1986 - - $466 -
1985 - - $681 -
1984 - - $593 -
1983 - - $667 -
1982 - - $683 -
1981 - - $665 -
1980 - - $595 -
1979 - - $527 -
1978 - - $515 -
1977 - - $446 -
1976 - - $387 -
1975 - - $355 -
1974 - - $320 -
1973 - - $276.1 -
1972 - - $239.8 -
1971 - - $218.4 -
1970 - - $211.3 -
1969 - - $394 -
1968 - - $388 -
1967 - - $374 -
1966 - - $370 -
1965 - - $333 -
1964 - - $337 -
1963 - - $320 -
1962 - - $295.7 -
1961 - - $277.4 -
1960 - - $267.8 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Armenia's GDP per capita is $9,474, ranking 92/197, compared to $1,278 in Tanzania, ranking 171/197. Adjusted for purchasing power (GDP per capita PPP), Armenia ranks 86th at $22,823, while Tanzania ranks 165th at $4,221.

Economic indicators

Armenia Tanzania
Gross domestic product
$29.2B
2025
$90.1B
2025
GDP rank
115/197
2025
83/197
2025
GDP growth
7.2%
2024-2025
5.85%
2024-2025
GDP per capita
$9,474
2025
$1,278
2025
GDP per capita rank
92/197
2025
171/197
2025
GDP per capita, PPP
$22,823
2024
$4,221
2024
GDP per capita PPP rank
86/197
2024
165/197
2024
Government debt
$14.3B
2025
$44.8B
2025
Debt-to-GDP ratio
49%
2025
49.7%
2025
Government debt per person
$4,639
2025
$635
2025
Government debt per person rank
89/185
2025
159/185
2025
Average annual personal income after taxes
$7,675
2026
$1,203
2026
Market capitalization of domestic companies
$4.85B
2024
$9.78B
2025
Number of billionaires
1
2026
1
2026
Income share by richest 10%
23.3%
2024
33.1%
2018
Income share by poorest 10%
4%
2024
2.9%
2018
Government expenditure, % of GDP
29.2%
2025
19.9%
2025
Consumer prices inflation
3.3%
2024-2025
3.33%
2024-2025
Central bank interest rate
6.5%
2025
5.75%
2025
Unemployment rate
8.3%
2023
2.43%
2024
Population
3064036
73639263

Spending and national debt comparison by year

Armenia
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Armenia Tanzania
Government spending Government debt Government spending Government debt
2025 29.2% 49% 19.9% 49.7%
2024 29% 50% 19.1% 49.9%
2023 26.9% 50.5% 19% 47.8%
2022 26.4% 49.2% 19.1% 44.9%
2021 28.7% 63.4% 18.4% 43.4%
2020 30.7% 67.4% 17.4% 41.3%
2019 24.9% 53.7% 17.3% 40.4%
2018 24.1% 55.7% 17.3% 42%
2017 25.9% 58.9% 16.4% 40.1%
2016 27% 56.7% 16.9% 39.8%
2015 26.3% 48.7% 17.2% 39.5%
2014 24% 43.7% 17.3% 36.4%
2013 23.8% 40.9% 18.8% 32.7%
2012 22.4% 41.4% 19.6% 30%
2011 25% 42.2% 19% 28.4%
2010 26.2% 40% 19.8% 27.6%
2009 28.6% 40.6% 19.6% 23.9%
2008 22.2% 16.4% 18.1% 21.6%
2007 22.4% 16.1% 17.8% 23.8%
2006 20% 18.7% 17.6% 17.4%
2005 19.9% 24.4% 18.3% 25.4%
2004 - 26.4% 17% 44.5%
2003 - 33% 15.4% 44.4%
2002 - 38.2% 13.6% 47.4%
2001 - 38.1% 12.4% 50.8%
2000 - 39.6% 12.3% 55.4%
1999 - 39.2% 12.8% 62.9%
1998 - 45.2% 11.4% 62.2%
1997 - 46.5% 12.8% 73.4%
1996 - 40.8% 13.4% 89.6%
1995 - - 15.6% 111.1%
1994 - - 16.8% 126%
1993 - - 16.4% 129.2%
1992 - - 17.6% 117.6%
1991 - - 14.2% 106.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-07-08).

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

In 2025, Armenia's government spending was $8.55B, accounting for 29.2% of its GDP, while Tanzania spent $18B, or 19.9% of GDP.

Debt-to-GDP ratio is 49% in Armenia and 49.7% in Tanzania, ranking 107/185 and 105/185, respectively.

Government deficit by year

Deficit/surplus
Armenia

Tanzania
1x
Year Deficit/surplus, % of GDP
Armenia Tanzania
2025 -3.74% -3.04%
2024 -3.67% -3.03%
2023 -2.02% -3.67%
2022 -2.12% -3.92%
2021 -4.6% -3.55%
2020 -5.4% -2.56%
2019 -0.98% -2.06%
2018 -1.76% -2.01%
2017 -4.7% -1.14%
2016 -5.57% -2.08%
2015 -4.83% -3.17%
2014 -1.94% -2.91%
2013 -1.59% -3.76%
2012 -1.49% -4%
2011 -2.87% -3.51%
2010 -4.98% -4.74%
2009 -7.69% -4.46%
2008 -1.76% -1.92%
2007 -2.33% -1.44%
2006 -1.95% -3.38%
2005 -1.98% -3.28%
2004 - -2.43%
2003 - -1.77%
2002 - -0.73%
2001 - -0.41%
2000 - -0.73%
1999 - -1.14%
1998 - 0.13%
1997 - -0.03%
1996 - 1.57%
1995 - -2.12%
1994 - -3.74%
1993 - -2.02%
1992 - -4.96%
1991 - 0.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

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

In 2025, Armenia's government deficit, the difference between spending and revenue, was $1.09B, equivalent to 3.74% of GDP. This compares to Tanzania's deficit of $2.74B, or 3.04% of GDP.

Over the past 21 years, Armenia recorded a fiscal deficit in 21 of those years, while Tanzania ran a deficit in 21 years. On average, Armenia posted an annual deficit equal to 3.24% of GDP, compared to deficit of 3.03% of GDP for Tanzania.

Inflation comparison by year

Inflation
Armenia

Tanzania
1x
Year Consumer prices inflation
Armenia Tanzania
2025 3.3% 3.33%
2024 0.3% 3.06%
2023 2% 3.8%
2022 8.6% 4.35%
2021 7.2% 3.69%
2020 1.2% 3.29%
2019 1.4% 3.46%
2018 2.5% 3.49%
2017 1% 5.32%
2016 -1.4% 5.17%
2015 3.7% 5.59%
2014 3% 6.13%
2013 5.7% 7.87%
2012 2.5% 16%
2011 7.5% 12.7%
2010 8.2% 6.2%
2009 3.5% 12.1%
2008 9.1% 10.3%
2007 4.4% 7.03%
2006 2.9% 7.25%
2005 0.6% 5.03%
2004 6.9% 4.74%
2003 4.7% 5.3%
2002 1% 5.32%
2001 3.2% 5.15%
2000 -0.8% 5.92%
1999 0.7% 7.89%
1998 8.7% 12.8%
1997 14% 16.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Armenia has recorded an average annual inflation rate of 3.99%, compared with 6.84% in Tanzania. In 2025, inflation was 3.3% in Armenia and 3.33% in Tanzania.

Top exports between countries

Armenia
Export category Export value
Machinery & equipment $92K
Processed food, beverages & tobacco $12K
Textiles & consumer goods $12K
Chemicals & pharma $2K
Metals $1K
Tanzania
Export category Export value
Raw agricultural goods $110K
Processed food, beverages & tobacco $83K
Precious metals & jewellery $82K

Balance of trade

Armenia Tanzania
Current account balance
-$2.11B
2025
-$2.38B
2024
Current account balance ranking
142/190
2025
144/190
2024
Current account balance, % of GDP
-7.22%
2025
-3%
2024
Goods imports
$11.6B
2025
$14.2B
2024
Goods exports
$8.53B
2025
$9.12B
2024
Service imports
$4.65B
2025
$2.8B
2024
Service exports
$6.12B
2025
$6.85B
2024
Imports of goods and services, % of GDP
53.6%
2025
20%
2025
Exports of goods and services, % of GDP
48.1%
2025
19%
2025

Economic freedom indices

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

Armenia Tanzania
Economic freedom 67.1 59
Economic freedom ranking 58/197 106/197
Property rights 48.6 45.2
Government integrity 51.8 40.9
Judicial effectiveness 31.4 29.6
Tax burden 87.2 80.4
Government spending 77.5 89.1
Fiscal health 84.1 75
Business freedom 72.9 48.1
Labor freedom 59.2 62.3
Monetary freedom 77.2 73.4
Trade freedom 75 58.8
Investment freedom 70 55
Financial freedom 70 50

Economic freedom comparison by year

Armenia
Tanzania
1x
Year Economic freedom index
Armenia Tanzania
2026 67.1 59
2025 65.4 59.3
2024 64.9 59.1
2023 65.1 60
2022 65.3 59.5
2021 71.9 61.3
2020 70.6 61.7
2019 67.7 60.2
2018 68.7 59.9
2017 70.3 58.6
2016 67 58.5
2015 67.1 57.5
2014 68.9 57.8
2013 69.4 57.9
2012 68.8 57
2011 69.7 57
2010 69.2 58.3
2009 69.9 58.3
2008 69.9 56.5
2007 68.6 56.8
2006 70.6 58.5
2005 69.8 56.3
2004 70.3 60.1
2003 67.3 56.9
2002 68 58.3
2001 66.4 54.9
2000 63 56
1999 56.4 60
1998 49.6 59.6
1997 46.7 59.3
1996 42.2 57.5
1995 - 57.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Armenia is 67.1, ranking 58/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Armenia Tanzania
Services, % of GDP
61.3%
2025
28.8%
2025
Industry, % of GDP
23.1%
2025
29.8%
2025
Agriculture, forestry, and fishing, % of GDP
7.93%
2025
22.9%
2025
GNI, Atlas method
$27.8B
2025
$87B
2025
GNI per capita, PPP
$24,020
2025
$4,370
2025
Total reserves including gold
$5.09B
2025
$5.05B
2018
Total reserves ranking
104/177
2025
106/177
2018
Net foreign direct investment
-$353M
2025
-$1.72B
2024
Net inflows of foreign direct investment
$132M
2024
$1.72B
2024
Net outflows of foreign direct investment
$56.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
7.26%
2024
2.56%
2024
Poverty at national poverty lines
21.7%
2024
26.4%
2018
Gross capital formation, % of GDP
24.2%
2025
40.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-07-08)
  6. TradeMap (2020–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.