About this metric
External debt is what residents of Armenia (the government, the Central Bank, banks and companies) owe to the rest of the world. This metric shows the gross external debt at the end of each quarter from the first quarter of 1999, in US dollars, in total and for the general government alone.
At the end of the second quarter of 2026 gross external debt was 20.96 billion US dollars, of which the government owed 6.73 billion. In the first quarter of 1999 the total was 1.16 billion and the government's part 557.25 million.
The total passed 10 billion at the end of 2017 and 20 billion at the end of the first quarter of 2026. The government's share fell from 48.2% in the first quarter of 1999 to 32.1% in the second quarter of 2026, the lowest in the series, and all other borrowers owe the remaining 67.9%.