Armenia's tricolor was first adopted in 1918 when the First Republic of Armenia was established, and readopted on August 24, 1990, as Soviet rule ended. The red stripe represents the Armenian Highland, the struggle for survival, and the blood shed to maintain Christian faith. The blue symbolizes the will to live under peaceful skies and represents the Armenian sky. The orange (sometimes called apricot) represents the creative talent and hard-working nature of the Armenian people. The apricot color is particularly significant as Armenia is considered the homeland of the apricot fruit. The flag's design was influenced by the rainbow that Noah reportedly saw when his ark landed on Mount Ararat after the Great Flood.
Learn more on Wikipedia