Armenia’s Foreign Trade Grows by 45.8% to $13.6 Billion in Nine Months of 2023

YEREVAN — Armenia’s foreign trade in January-September 2023 surged by 45.8% from the same time span of 2022 to over $13.6 billion, the National Statistical Committee said.

Of CIS countries Armenia’s largest foreign trade partners were Russia (about $4.8 billion, up 47.7% compared to the first nine months of 2022), Belarus ($152.8 million, 16.6% growth) and Ukraine ($67 million, 8% growth).

Armenia’s trade with the EU countries amounted to a little over $2 billion with a 30.8% yoy growth. The five largest trade partners were Germany -$495.4 million, (49.8% growth), Italy- $316.1 million (33.7% growth), the Netherlands ($267.2 million (34.5% growth), Poland – $133.5 million, (2.1 times growth) and France – $117.6 million, 49.8% growth.

Other large trade partners were China -$1.6 billion (38.7% growth), UAE -$726.3 million (2.2 –fold growth), the USA -$548.4 million (96.3% growth), Iran -$507,2 million, (2.2% growth), Japan – $297.4 million (2.8-fold growth), Georgia -$194.7 million (15.6% decline), Republic of Korea -$153.4 million ( 2.3-fold growth) and Iraq -$137.7 million (18.4% decline).

Exports
Exports from Armenia increased by 44.8% to over $5.12 billion. Exports to Russia grew by 85% to over $2.6 billion, exports to Belarus grew by 61% to about $81 million and exports to Kazakhstan grew by 4.5 times to $47.6 million.

Exports to the EU countries decreased by 5.1% to $575.6 million. Exports to the Netherlands upped by 33.8% to $219 million. Exports to Belgium upped by 9.5% to $68.2 million.

Other large importers of Armenia-made goods were UAE -$665.5 million, (2.4-fold growth), China -$322.6 million (19.9% growth), Iraq -$22.6 million (19.9% growth), Georgia -$110.2 million (decrease by 10%), Iran -$75.5 million (decrease by 10.9%), Switzerland -$56.7 million (decrease by 70.9%) and the USA -$35.3 million (decrease by 39.9%).

The bulk of exports were precious and semi-precious stones — $1.1 billion (up 84.9% compared to January-September 2022), machinery, equipment and mechanisms – $898.9 million (up 2.2 times), mining industry – $685.5 million (decline by 12.7%), finished food products – $634 million (growth by 4%), land, air and water vehicles – $486.1 million (4.1-fold growth).

Imports
Imports to Armenia amounted to about $8.5 billion an increase of 46.4% compared to January-September 2022. Imports from Russia amounted to about $2.3 billion ( up 15.4%), imports from Belarus dropped by 12% to $77.2 million.

Imports from EU countries increased by 48.5% to $1.7 billion. Imports from Germany upped by 53% to $433.4 million. Imports from Italy grew by 48% to $247 million. Imports from the Netherlands grew by 64% to $135.8 million. Imports from USA grew by 2.6 times to $694 million. Imports from the UAE grew by 74% to $444 million.

The bulk of imports were textile products – $468.5 million (up 69%), products of chemical and related industries – $461 million (up 7.7%), food – $434.6 million (up 17.1%) and non-precious metals – $434 million (down 1.5%).