Armenia is a sovereign state in the South Caucasus region of Eurasia. Located in Western Asia,[1][2] on the Armenian Highland, it is bordered by Turkey to the west, Georgia to the north, the de facto independent Republic of Artsakh and Azerbaijan to the east, and Iran and Azerbaijan's exclave of Nakhchivan to the south.

Economy of Armenia benefits strongly from investment and support of Armenians abroad.[3]

Before independence, Armenia's economy was largely industry-based – chemicals, electronics, machinery, processed food, synthetic rubber, and textile – and highly dependent on outside resources. The republic had developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics in exchange for raw materials and energy.[4]

Notable firms

This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.

Notable companies
     Active      State-owned      Defunct
Name Industry Sector Headquarters Founded Notes
Air Armenia Consumer services Airlines Yerevan 2003 Airline
Ameriabank Financials Banks Yerevan 1910 Universal bank
Ararat Cement Industrials Building materials & fixtures Armenia 1927 Cement
Ararat International Airlines Consumer services Airlines Yerevan 2010 Airline, defunct 2013
Ardshinbank Financials Banks Yerevan 1924 Bank
Armenia 2 Consumer services Broadcasting & entertainment Yerevan 1999 Television
Armenia Aircompany Consumer services Airlines Yerevan 2015 Airline
Armenia Telephone Company Telecommunications Mobile telecommunications Yerevan 1955 Armentel-Beeline cellular network, land-lines, Internet
Armenia TV Consumer services Broadcasting & entertainment Yerevan 1997 Television
Armenian Railways Consumer services Travel & tourism Yerevan 1992 Defunct 2008
ArmSwissBank Financials Banks Yerevan 2005 Private investment bank
Artsakhbank Financials Banks Yerevan 1996 Bank
Atlantis European Airways Consumer services Airlines Yerevan 2004 Airline
Avshar Wine Factory Consumer goods Distillers & vintners Avshar 1968 Winery
Bars Media Consumer services Broadcasting & entertainment Yerevan 1993 Film studio
Central Bank of Armenia Financials Banks Yerevan 1993 Central bank
ErAZ Consumer goods Auto parts Yerevan 1964 Defunct 2002
Gazprom Armenia Oil & gas Exploration & production Yerevan 1997 Part of Gazprom (Russia)
HayPost Industrials Delivery services Yerevan 1994 Postal services
Hetq Online Consumer services Publishing Yerevan 2001 Online newspaper
Hrazdan TV Consumer services Broadcasting & entertainment Hrazdan 1991 Television
HSBC Bank Armenia Financials Banks Yerevan 1996 Part of HSBC (UK)
Ingo Armenia Financials Full line insurance Yerevan 1997 Insurance
Jermuk Mineral Water Factory Consumer goods Beverages Jermuk 1951 Mineral water
Kotayk Brewery Consumer goods Brewers Abovyan 1974 Brewery
MIKA Cement Industrials Building materials & fixtures Hrazdan 1979 Cement
Multi Group Stone Basic materials General mining Abovyan 2002 Stone works
PanARMENIAN.Net Consumer services Publishing Yerevan 2000 Online news
Prometey Bank Financials Banks Yerevan 1990 Bank
Public Television company of Armenia Consumer services Broadcasting & entertainment Yerevan[5] 1956 Television
Rusal Armenal Basic materials Aluminum Yerevan 2000[6] Aluminum, part of Rusal (Russia)
Sanitek Armenia Industrials Waste & disposal services Yerevan 2010 Waste management
Shant TV Consumer services Broadcasting & entertainment Yerevan 1994 Television
Shoghakat TV Consumer services Broadcasting & entertainment Yerevan 1998 Television
TotoGaming Consumer services Gambling Yerevan 2004 Sports and casino gaming
Ucom Telecommunications Mobile telecommunications Yerevan 2009 Mobile network
Vertir Airlines Industrials Delivery services Yerevan 2009 Cargo airline
Veteran Avia Consumer services Airlines Yerevan 2009 Charter airline
Yerevan Ararat Wine Factory Consumer goods Distillers & vintners Yerevan 1877 Wine
Yerevan Brandy Company Consumer goods Distillers & vintners Yerevan 1887 Brandy
Yerevan Computer Research and Development Institute Technology Computer hardware Yerevan 1956 Technology
Yerevan Confectionery and Macaroni Factory Consumer goods Food products Yerevan 1933 Confectionary
Zangezur Copper and Molybdenum Combine CJSC Basic materials Nonferrous metals Kajaran 1951 Mining

Other lists of leading companies

More banks are included in the list of banks in Armenia.

Each quarter largest taxpayers companies are disclosed and published online.[7] Data can be looked up also per industry and company size. E.g. among software development companies largest taxpayer in 2014-2017 years was Synopsis Armenia.[8]

List of IT sector companies in Armenia can be found on the site of EIF Guide.[9]

Chamber of Commerce and Industry features list of leading international tech companies in Armenia.[10]


  1. ^ Central Intelligence Agency."The CIA World Factbook 2015" Skyhorse Publishing Inc, 2014. ISBN 1-62914-903-9
  2. ^ The UN classification of world regions places Armenia in Western Asia; the CIA World Factbook "Armenia". The World Factbook. CIA. Archived from the original on 10 October 2010. Retrieved 2 September 2010.  "Armenia". National Geographic. , "Armenia". Encyclopædia Britannica. , Calendario Atlante De Agostini (in Italian) (111 ed.). Novara: Istituto Geografico De Agostini. 2015. p. sub voce. ISBN 9788851124908.  and Oxford Reference Online "Oxford Reference". Oxford Reference Online. Retrieved 20 October 2012.  also place Armenia in Asia.
  3. ^ Demourian, Avet (19 October 2007). "Armenian Eyes, Ears on US Genocide Vote". The Washington Post. Retrieved 7 July 2009. 
  4. ^ "The World Factbook: Armenia". CIA. Archived from the original on 14 November 2007. Retrieved 15 November 2007. 
  5. ^ "Public Television Company Of Armenia CJSC: Private Company Information". Bloomberg. Retrieved 2017-12-20. 
  6. ^ "Facts and Figures". Rusal.ru. Retrieved 2017-12-20. 
  7. ^ LLC, SFL. "Top taxpayers of Armenia". harkatu.am. Retrieved 2018-03-01. 
  8. ^ LLC, SFL. "Top taxpayers of Armenia". harkatu.am. Retrieved 2018-03-01. 
  9. ^ CJSC, developWay. "EIF Guide to Armenian IT Companies". itguide.eif.am. Retrieved 2018-03-01. 
  10. ^ "Chamber of Commerce and Industry of Republic of Armenia - International Tech companies in Armenia". www.armcci.am. Retrieved 2018-03-01.