Key Indicators
Overview
Armenia: Opportunities and Challenges in Trade
Armenia, located at the crossroads of Europe and Asia, has a rich cultural heritage and a strategic geographical position. In 2024, Armenia ranked 60 globally in terms of GDP. Despite its small size, Armenia's economy has shown resilience and growth potential in the regional economic landscape.
Positives:
1. Strategic Location: Armenia's position between Europe and Asia offers potential as a trade link, particularly with the Eurasian Economic Union, which includes Russia and other neighboring countries.
2. IT Sector Growth: Armenia has a burgeoning information technology sector, contributing to exports and attracting foreign investment.
3. Diaspora Networks: The extensive Armenian diaspora supports trade connections and investments, particularly in Western markets.
Negatives:
1. Landlocked Geography: Armenia's lack of direct sea access increases transportation costs and complicates trade logistics.
2. Geopolitical Tensions: Ongoing conflicts and strained relations with neighboring countries, especially Azerbaijan and Turkey, pose risks to trade routes and economic stability.
3. Infrastructure Development: While improving, Armenia's transport and logistics infrastructure still faces challenges, potentially limiting efficient trade operations.
Armenia import export data, including buyer and supplier names, is available on the Volza Platform.
Exports:
In October 2023, Armenia ranked 52th in global exports. Exports totaled 6 billion, which is a 15% increase from October 2022.
On a TTM basis from October 2022 to October 2023, Armenia's rank was 52, with exports of 6 billion, indicating a 15% growth from the previous year.
In 2023, exports reached 6 billion, showing a 8% YOY growth from 2022. Russian Federation, United Arab Emirates, China, China, Hong Kong SAR, Netherlands, Iraq, Georgia, B were the main export destinations. Products exported were Precious Stones and Metals, Electrical machinery and equipment, Mineral Ores and Ash.
Buyers included INDUSTRIES SPA, DFM SRL, and DAINESE SPA.
Imports:
In October 2023, Armenia ranked 55th in global imports, with imports valued at 9 billion, representing a 22% growth from 2022.
From October 2022 to October 2023, the country's imports amounted to 9 billion, showing a 22% growth from the preceding year.
In 2023, imports totaled 9 billion, marking a 9% YOY growth from 2022. Sources of these imports were Russian Federation, China, Viet Nam, USA, Iran, Germany, Japan, India, Italy, Türkiye. Imported products were Vehicles and Parts, Precious Stones and Metals, Electrical machinery and equipment. Suppliers were STAR GEMS L L C, MINISTRY OF LAO DEFENCE, and MARG PHARMACY LLC.
Import Factsheet
Data Source- Detailed Mirror
Data Coverage- 40%
Last Shipment- 22, Aug, 2024
Update Frequency- Monthly
- not visible
Export Factsheet
- Data Source
- Detailed Mirror
- Data Coverage
- 40%
- Last Shipment
- 22, Aug, 2024
- Update Frequency
- Monthly
- no visible
Import Export Data
Trading Partners
Top Trading Partners of Armenia
Import Trade Data
Product | Importers | Suppliers | Arrival Date |
|---|---|---|---|
MEAT MASALA OD AS PER DOCUMENT PL |   India | India | 30-Apr-2024 |
MIDOSTAURIN SOFT GELATIN CAPSULES 25MG B | India | 30-Apr-2024 | |
DHOOP CONE OD AS PER DOCUMENT PL | India | India | 30-Apr-2024 |
TAMOXIFEN CITRATE TABLETS IP 20MG B.NO T | India | 30-Apr-2024 | |
COCONUT OIL 200ML OD AS PER DOCUMENT PL | India | India | 30-Apr-2024 |
CHICKEN CURRY OD AS PER DOCUMENT PL | India | India | 30-Apr-2024 |
Export Trade Data
Product | Exporters | Buyers | Arrival Date |
|---|---|---|---|
INFLATABLE SLEEVELESS JACKET | Turkey | Turkey | 26-Apr-2024 |
c .EKET | Turkey | Turkey | 25-Apr-2024 |
c .EKET | Turkey | Turkey | 25-Apr-2024 |
c .EKET | Turkey | Turkey | 25-Apr-2024 |
BRANDY ROYAL COMMISSION VS 12 X 1000ML BRANDY | India | 25-Apr-2024 | |
ROUGH MARBLE SLAB ROUGH MARBLE SLAB-GREY COLOUR, SQM:380 THICKNESS 2CM AS PER DOCUMENT NO:AGE2024/04/096 DATE:03.04.2024 | India | India | 20-Apr-2024 |