Armenia Rises to 64th in Forbes Best Countries for Business

Forbes magazine ranks Armenia 64th in its annual list of best countries for business

YEREVAN—Armenia has climbed from 77th to 64th place among 145 countries in Forbes Best Countries for Business 2013 rating.

According to Forbes, Armenia’s main economic indices are as follows: GDP growth – 7.2%; GDP per capita – $3,400; trade balance – 11.5%; public debt as percent of GDP – 42%; unemployment –7.0%; and inflation – 2.6%.

Russia is 94th in the list, Georgia is 55th. Azerbaijan and Turkey are ranked 67th and 57th respectively, While Iran is 132nd.

Ireland tops the rating, followed by New Zealand and Hong Kong. Denmark, Sweden, Finland, Singapore, Canada, Norway and the Netherlands are also in the top 10.

Forbes determined the Best Countries for Business by grading 145 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.

The data came from published reports from Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum.

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