January 12, 2026

EU4Business Country Report 2024: Armenia

The ‘EU4Business Country Report 2024: Armenia’ provides an overview of the EU support to Armenian SMEs, the EU4Business country Portfolio and the major results in the country over 2024.

In 2024, the total budget of EU support to 11,853 SMEs in Armenia was €177.1 million. The turnover of EU-supported SMEs in Armenia in 2024 was €1.58 billion, which was 15.9% out of total income generated by EU-supported SMEs in the EaP and an increase of 17.2% compared to 2023. The average income per SME supported is €113,749.

The share of businesses owned or managed by women rose from 39% in 2023 to 51% in 2024, which had itself marked a small decline since 2022. This means the share not only recovered but also increased.