Armenia—Country Workforce Profile
by Laura Ruiz Pérez
June 2009—The Country Profile of Armenia provides a comprehensive analysis of the country’s current economic situation and workforce demographics for organizations and employers wishing to expand their business or to improve their employee relations already in Armenia. This Profile can aid employers in becoming more competitive and informed in their operations in Armenia.
Armenia is a country with a long cultural tradition that has faced recent changes and restructuring following seven decades of Soviet rule. The country’s economy continues to grow, with GDP growth rates in the double digits since 2002. The formation of new sectors has sprung from the sweeping economic reforms carried out by the government since 1995. In 2006 the country was ranked 39th in the world for the overall quality of business environment. (This ranking was far above many of its neighbors, such as Azerbaijan.)
Economic expansion in Armenia is hindered by the blockade imposed by the neighboring countries of Azerbaijan and Turkey, as well as the natural disadvantages faced by land-locked nations. The country faces a real unemployment rate of 27%, and only 40.5% of the population participating in the labor force. With growth already in place, and set to continue, employers seeking to compete in Armenia can use the information in this report to aid their ventures and become employer-of-choice in the area.