Armenia is the smallest country in the Caucasus region with area of 29,800 square kilometers and with the population of about 3mln people. But above 6mln Armenians live abroad (Diaspora), mainly in Russia and USA, therefore the Diaspora has an immense contribution in the economic development of Armenia.
As per the estimated per-capita GDP of US$ 3,780 (GNI, 2014), Armenia is a lower middle-income country. One of the key sectors of Armenia's economy is the Mining Sector, which is also considered one of the fastest growing exporting sectors during the recent years. The Information and Communication Technology (ICT) sector is one of the most productive in Armenia and the Government of Armenia declared the ICT sector as one of the development priorities for the Armenia's economy. But still Agriculture is the main sector of Armenian economy, and in 2013 the share of agriculture was 19.3% of the GDP, while the share of agriculture and food processing was nearly 25% of the GDP. While the contribution of agriculture in economic growth is essential, the capital Yerevan accounts for about 60% of Armenia's total GDP economic development with the huge gap between the regions of the country. It is necessary to develop industry and increase incomes in rural areas, accordingly.
Aiming at achieving the balanced and sustainable economic growth, JICA is providing the on-going assistance in the priority areas of cooperation with Armenia, which are as follows
1) Improving basic infrastructure and developing managing capacity; 2) Promoting small and medium-sized enterprises and sustainable regional development with the use of regional resources; and 3) Strengthening measures for disaster prevention.