Armenia: PPG, official creditors (NFL, current US$)

Key figures

What the numbers say

In 2024, Armenia's PPG, official creditors (NFL, current US$) rose US$152.47 million on 2023 (from US$56.4 million to US$208.86 million).

Across the 30 yearly changes before that (1994 to 2023), the average change was −US$1.01 million and a typical year strayed about US$269.5 million from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was US$770.32 million in 2009 and the biggest yearly fall was US$745.29 million in 2010. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is downward, about US$44.64 million a year. A straight line explains 43% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Armenia had the 51st highest value of the 118 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Armenia in the 2024 ranking

• El Salvador — 47th of 118: US$250.88 million
• Bhutan — 48th of 118: US$228.39 million
• Guinea — 49th of 118: US$210.12 million
• Malawi — 51st of 118: US$197.08 million
• Mauritius — 52nd of 118: US$190.08 million
• Mexico — 53rd of 118: US$184.77 million

What this measures

Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.

Regional and income-group figures are computed by the World Bank as a sum.

All 32 values

PPG, official creditors (NFL, current US$) in nearby economies

• Albania — −US$11.69 million (2024)
• Azerbaijan — −US$537.21 million (2024)
• Belarus — −US$1.16 billion (2024)
• Bosnia and Herzegovina — US$148.92 million (2024)
• Bulgaria — US$217.82 million (2022)
• Georgia — US$97.66 million (2024)
• Kazakhstan — US$632.03 million (2024)
• Kosovo — US$79.03 million (2024)
• Kyrgyz Republic — US$97.39 million (2024)
• Moldova — US$425.64 million (2024)

More economic policy & debt data for Armenia

• Adjusted savings, education expenditure (% of GNI) — 2.72% (2021)
• Adjusted savings, mineral depletion (current US$) — US$448.08 million (2021)
• General government final consumption expenditure (current US$) — US$2.98 billion (2025)
• General government final consumption expenditure (current LCU) — 1.15 trillion (2025)
• General government final consumption expenditure (% of GDP) — 10.19% (2025)
• Households and NPISHs final consumption expenditure (current US$) — US$20.79 billion (2025)
• Households and NPISHs final consumption expenditure (current LCU) — 8.05 trillion (2025)
• Households and NPISHs final consumption expenditure, linked series (current LCU)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Armenia's PPG, official creditors (NFL, current US$)?

US$208.86 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1993?

It is up 140.75% from US$86.76 million in 1993 (2.87% a year on average, compounded). The highest value was US$919.75 million in 2009 and the lowest −US$303.92 million in 2013.

How does Armenia rank?

51st highest of 118 economies with data for 2024.

Is the latest change in PPG, official creditors (NFL, current US$) unusual for Armenia?

In 2024, Armenia's PPG, official creditors (NFL, current US$) rose US$152.47 million on 2023 (from US$56.4 million to US$208.86 million). Across the 30 yearly changes before that (1994 to 2023), the average change was −US$1.01 million and a typical year strayed about US$269.5 million from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator DT.NFL.OFFT.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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