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Armenia – External Debt

Name: Armenia External Debt
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Total external debt stocks in current US dollars. Sum of public, publicly guaranteed, and private nonguaranteed long-term debt plus short-term debt and IMF credit. · World Bank

$16.4B +$557.3M from 2023 G20 rank: 69th · all-time high: $16.4B (2024)

APA

Armenia External Debt. HistorySaid. Retrieved March 10, 2026, from https://historysaid.com/armenia/external-debt

BibTeX

@misc{historysaid_armenia_external-debt,
  title = {Armenia External Debt},
  url = {https://historysaid.com/armenia/external-debt},
  publisher = {HistorySaid},
  year = {2026}
}

Data & Projection▾

Year	Value	Change	Rank
2027* trend	$19.3B	–	–
2026* trend	$18.4B	–	–
2025* trend	$17.6B	–	–
2024	$16.4B	+$557.3M	69th
2023	$15.8B	−$92.3M	69th
2022	$15.9B	+$1.9B	69th
2021	$14.0B	+$977.8M	63rd
2020	$13.1B	+$1.2B	63rd
2019	$11.9B	+$1.2B	62nd
2018	$10.7B	+$497.4M	61st
2017	$10.2B	+$372.7M	61st
2016	$9.9B	+$1.0B	61st
2015	$8.8B	+$275.4M	61st
2014	$8.6B	−$125.4M	61st
2013	$8.7B	+$1.0B	66th
2012	$7.6B	+$229.8M	67th
2011	$7.4B	+$1.1B	65th
2010	$6.3B	+$1.4B	64th
2009	$4.9B	+$1.3B	60th
2008	$3.6B	+$530.6M	55th
2007	$3.1B	+$943.1M	54th
2006	$2.1B	+$169.1M	47th
2005	$2.0B	−$138.1M	38th
2004	$2.1B	+$111.8M	40th
2003	$2.0B	+$276.6M	41st
2002	$1.7B	+$309.1M	38th
2001	$1.4B	+$392.0M	35th
2000	$1.0B	−$4.2M	27th
1999	$1.0B	+$218.4M	27th
1998	$804.2M	+$165.8M	25th
1997	$638.5M	+$117.9M	24th
1996	$520.5M	+$149.9M	22nd
1995	$370.7M	+$156.3M	20th
1994	$214.3M	+$80.4M	17th
1993	$133.9M	–	9th

Show all years (1993–2024)

* Linear trend extrapolation from last 5 data points

Detected Pattern▾

Export Boom Cycle

Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.

Reserves YoY +27.3% GDP growth 12.6% C/A balance 0.7%

This pattern occurred 682 times in G20 history, 460 successful

United Arab Emirates 2024

Reserves YoY

+25.6%

GDP growth

4.0%

C/A balance

14.5%

Guatemala 2024

Reserves YoY

+14.6%

GDP growth

3.7%

C/A balance

2.9%

Cambodia 2024

Reserves YoY

+12.6%

GDP growth

6.0%

C/A balance

0.5%

Sri Lanka 2024

Reserves YoY

+38.3%

GDP growth

5.0%

C/A balance

1.2%

Lesotho 2024

Reserves YoY

+18.0%

GDP growth

2.9%

C/A balance

3.9%

Lithuania 2024

Reserves YoY

+20.1%

GDP growth

2.8%

C/A balance

3.3%

HistorySaid – pattern alert

Armenia matched the Export Boom Cycle pattern in 2022. Historically, 67% of countries showing this pattern (460 out of 682) saw external debt improve within 24 months. View full analysis →