Formal Borrowing Statistics in Armenia (2026)
As of the 2024 data, 23.2% of adults in Armenia borrowed from a formal financial institution, per World Bank Global Findex. Down from 26.2% in 2021 to 23.2% in 2024 (−3 percentage points). Armenia ranks #29 of 46 economies in Europe & Central Asia on this measure, and #47 of 142 globally.
Key Statistics
- Latest value (2024)
- 23.2% (2024)
- Formal Borrowing in Armenia as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −3 pp (2024)
- Down from 26.2% in 2021 to 23.2% in 2024 (−3 percentage points).
- Earliest value in this dataset (2014)
- 21.1% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 21.1% in 2014 to 23.2% in 2024.
- Peak value (2017)
- 31.2% (2017)
- Highest value in the available series; the 2024 value is 23.2%.
- Rank in Europe & Central Asia
- #29 of 46 (2024)
- Armenia ranks 29 of 46 countries in Europe & Central Asia with data, based on each country's latest value.
- Global rank
- #47 of 142 (2024)
- Armenia ranks 47 of 142 countries with data globally.
- Europe & Central Asia average
- 33.3% (2024)
- Armenia (23.2%) is below the average of 33.3% across the 46 countries in Europe & Central Asia with data.
- Among women (2024)
- 23.3% (2024)
- Value for women in Armenia, same 2024 World Bank Global Findex data.
- Among men (2024)
- 23% (2024)
- Value for men in Armenia, same 2024 World Bank Global Findex data.
- Gender gap (women minus men)
- +0.3 pp (2024)
- In 2024, the figure was 23.3% for women and 23% for men — 0.3 percentage points higher among women.
- Among the poorest 40% (2024)
- 18.6% (2024)
- Value for adults in the poorest 40% of households in Armenia in 2024.
- Poorest-40% gap vs national
- −4.6 pp (2024)
- The poorest 40% (18.6%) are 4.6 percentage points below the national figure (23.2%).
- Internet use in Armenia (2024)
- 81.3% (2024)
- 81.3% of the population in Armenia used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 3 million (2024)
- Armenia had a population of 3 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 23.2% | −3.0 pp |
| 2021 | 26.2% | −5.0 pp |
| 2017 | 31.2% | +10.1 pp |
| 2014 | 21.1% | — |
Frequently asked questions
What share of adults in Armenia borrowed from a formal financial institution?
23.2% of adults in Armenia borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
Where does Armenia rank globally on formal borrowing?
Armenia ranks 47 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
Is there a gender gap in formal borrowing in Armenia?
Yes — in 2024 the figure was 23.3% for women and 23% for men, a gap of 0.3 percentage points in favor of women.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .