Armenia records highest GDP growth in ten years

YEREVAN: Armenia's gross domestic product (GDP) grew by 7.5 percent in 2017, the highest growth rate in the last 10 years, according to a report published by the country's National Statistical Service (NSS) on Wednesday.

Armenia's GDP in 2017 amounted to about 5.5 trillion AMD (11.4 billion US dollars), according to the report by the NSS.

Armenia recorded double-digit GDP growth between 2002 and 2007. But in 2009, Armenia's GDP had fallen by almost 15 percent amid the international financial crisis.

As a member of the Eurasian Economic Union (EEU), the country signed a Comprehensive & Enhanced Partnership Agreement with the European Union (EU) last November, becoming the first EEU member to sign such an accord with the EU.