Armenia is part of the Old USSR i.e. Soviet Republic which borders Turkey, Georgia, and Azerbaijan. The country was primarily industry-based dealing with chemicals, electrical machinery, processed food, textile, etc. The country’s economy suffered during the Post-Soviet dissolution and new sectors such as precious stones and jewellery making, ICT, tourism, Agriculture, Energy, etc., has been adopted.
Currently Armenia is classified as a free country and is highly dependent on financial aid from the Western countries.