Compensation of employees (current LCU) in Armenia
Armenia: Compensation of employees (current LCU) was 428.74 billion current LCU in 2024. ▲ Rising
Compensation of employees in Armenia, 2004–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, compensation of employees in Armenia stood at 428.74 billion current LCU. That is the highest value across all 21 years on record.
That represents a change of up 11.5% on the previous year and up 71.4% over ten years.
Over the whole period, compensation of employees in Armenia peaked at 428.74 billion current LCU in 2024 and was at its lowest, 55.19 billion current LCU, in 2004.
Armenia ranks 47th of 156 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 21 years of available data.
Compensation of employees (current LCU) in Armenia, year by year
| Year | current LCU | Change |
|---|---|---|
| 2004 | 55.19 billion current LCU | — |
| 2005 | 83.24 billion current LCU | +50.8% |
| 2006 | 97.01 billion current LCU | +16.5% |
| 2007 | 114.67 billion current LCU | +18.2% |
| 2008 | 158.49 billion current LCU | +38.2% |
| 2009 | 185.91 billion current LCU | +17.3% |
| 2010 | 187.76 billion current LCU | +1.0% |
| 2011 | 200.81 billion current LCU | +6.9% |
| 2012 | 203.24 billion current LCU | +1.2% |
| 2013 | 224.35 billion current LCU | +10.4% |
| 2014 | 250.14 billion current LCU | +11.5% |
| 2015 | 265.50 billion current LCU | +6.1% |
| 2016 | 270.42 billion current LCU | +1.9% |
| 2017 | 273.63 billion current LCU | +1.2% |
| 2018 | 275.49 billion current LCU | +0.7% |
| 2019 | 301.26 billion current LCU | +9.4% |
| 2020 | 315.58 billion current LCU | +4.8% |
| 2021 | 321.38 billion current LCU | +1.8% |
| 2022 | 343.06 billion current LCU | +6.7% |
| 2023 | 384.37 billion current LCU | +12.0% |
| 2024 | 428.74 billion current LCU | +11.5% |
Armenia compared with similar countries
- Armenia's 428.74 billion current LCU is above the median for upper middle income countries, which is 95.94 billion current LCU, 4.5× the median. (47 countries reporting)
- Armenia's 428.74 billion current LCU is above the median for Europe & Central Asia, which is 31.50 billion current LCU, 13.6× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 115.75 billion current LCU | 55.19 billion current LCU | 185.91 billion current LCU | 6 |
| 2010s | 245.26 billion current LCU | 187.76 billion current LCU | 301.26 billion current LCU | 10 |
| 2020s | 358.63 billion current LCU | 315.58 billion current LCU | 428.74 billion current LCU | 5 |
Countries ranked near Armenia
More public sector data for Armenia
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 21.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 6.92 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0008 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 200 % change on previous year (2024)
Frequently asked questions
- What is compensation of employees in Armenia?
- Compensation of employees in Armenia was 428.74 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Armenia?
- The highest recorded value was 428.74 billion current LCU in 2024.
- What is the lowest compensation of employees recorded in Armenia?
- The lowest recorded value was 55.19 billion current LCU in 2004.
- How does Armenia rank for compensation of employees?
- Armenia ranks 47th out of 156 countries with data for 2024.
- Is compensation of employees rising or falling in Armenia?
- Over the last ten years it is up 71.4%. The long-run trend across the full record is rising.
- Where does this Armenia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (current LCU). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.