The economy of neighbouring Armenia has also been affected by the combination of the economic recession and, in particular, the rapid deterioration of the Russian economy, due to the great dependence of the Armenian economy on trade with its large neighbour to the north.
Naaberriigi Armeenia majandust on samuti räsinud nii majanduslangus kui ka eelkõige Venemaa majandusseisu kiire halvenemine, sest Armeenia majandus sõltub suurel määral kaubavahetusest oma suure põhjanaabriga.