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Armenia – Market Capitalization

Name: Armenia Market Capitalization
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Total market value of listed domestic companies as a share of GDP. Reflects stock market size relative to the economy. · World Bank

18.67% +17.52% from 2023 G20 rank: 50th · all-time high: 18.67% (2024)

APA

Armenia Market Capitalization. HistorySaid. Retrieved March 10, 2026, from https://historysaid.com/armenia/market-capitalization

BibTeX

@misc{historysaid_armenia_market-capitalization,
  title = {Armenia Market Capitalization},
  url = {https://historysaid.com/armenia/market-capitalization},
  publisher = {HistorySaid},
  year = {2026}
}

Data & Projection▾

Year	Value	Change	Rank
2027* trend	23.24%	–	–
2026* trend	19.46%	–	–
2025* trend	15.67%	–	–
2024	18.67%	+17.52%	50th
2023	1.16%	−0.14%	71st
2022	1.29%	+1.08%	75th
2021	0.21%	−0.00%	76th
2020	0.21%	−0.19%	77th
2019	0.40%	+0.02%	76th
2018	0.38%	–	77th

* 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

Armenia's market capitalization peaked at 18.67% in 2024. The 2024 reading of 18.67% is 0% above that level. Based on recent trends, HistorySaid estimates 15.67% by 2025.