<\/a>Until gaining its independence from the Soviet Union, Armenia’s economy was based largely on industry\u2014chemicals, machinery, processed food, synthetic rubber and textiles, and it was highly dependent on outside resources. The country still relies on imported fuel, including gas and nuclear fuel, from Russia for its energy sector and continues to suffer from the Soviet legacy of a centrally planned economy. In 2012, Armenia had a GDP by purchasing power parity of $19.97 billion – ranked 131st in comparison to the world – and a GDP by official exchange rated of $10.07 billion. GDP per capita in 2012 was of $5,900 – ranked 152nd in the world – similar to country’s such as Swaziland and Georgia. Armenia’s long term goals include additional economic reforms, the strengthening of the rule of law in order to regain economic growth, and improve economic competitiveness and employment opportunities.<\/p>\n