Armenia's foreign trade in January-February down 52% to $2.8 billion

YEREVAN, April 5. /ARКА/. Armenia's foreign trade turnover in January-February 2025 compared to the same period in 2024 slashed by 52% to $2,785,770.8 thousand, according to the National Statistical Committee.

Armenia's foreign trade turnover began to slow down in July last year. Thus, if in the first half of 2024, it increased by 2 times on an annual basis, then for the whole of 2024, compared to 2023, the growth was 41.5%, and in January of this year, a decline of 40% was recorded compared to January 2024.

Armenia's largest foreign trade partners are Russia (trade turnover for the first 2 months of this year was $978,225.2 thousand, down 62.1% from the first 2 months of last year).

Armenia's foreign trade turnover with the EU countries for the reporting period was $298,573.8 thousand, down 7.5%. The top five largest trading partners among European countries are Germany ($60,678.2 thousand, a decline of 9%), Italy ($49,314.7 thousand, a decline of 17%), Belgium ($23,419.3 thousand, a decline of 36.5%), the Netherlands ($22,936.0 thousand, an increase of 13.8%) and France ($17,731.7 thousand, an increase of 12.4%).

Trade with China ($383,767.9 thousand, a decline of 22%), with the UAE ($240,883.3 thousand, a decline of 80%), with Iran ($98,863.2 thousand, an increase of 12%), with the USA ($57,699.0 thousand, a decline of 28.2%), with Iraq ($54,994.7 thousand, an increase of 3.6 times).

Exports

According to statistics, exports from Armenia for the first two months of 2025 decreased by 59.7% compared to the first two months of 2024, amounting to $1,041,011.9 thousand.

Exports to Russia ($458,458.4 thousand, a 12.1% decline), exports to the EU countries decreased by 12.7% compared to January-February 2024, amounting to $74,177.4 thousand. The top three countries in terms of export volume include Germany ($14,120.0 thousand, an increase of 45.8%), Belgium ($13,768.1 thousand, a 47.7% decline), and the Netherlands ($12,460.4 thousand, an increase of 5.5%). Other countries with the largest export volumes from Armenia include the UAE ($226,136.5 thousand, a decline of 81.1%), China ($64,299.0 thousand, a decline of 75.9%), Iraq ($54,822.3 thousand, an increase of 3.6 times), Switzerland ($20,804.9 thousand, an increase of 42.4%), Georgia ($16,297.2 thousand, a decline of 30.4%), Iran ($14,250.6 thousand, a decline of 8.8%), and the United States ($6,049.1 thousand, a decline of 38.8%).

According to statistics, the most significant export items in the reporting period were precious and semi-precious stones, precious metals and products made of them - $ 323,316.4 thousand (a decline of 82.1% compared to January-February 2024), machinery, equipment and mechanisms - $ 200,742.2 thousand (a decline of 18.6%), "finished products of the food industry - $ 165,646.2 thousand (an increase of 43.2%), mining industry - $ 125,640.7 thousand (a decline of 14.9%), textiles - $ 46,338.6 thousand (a decline of 38.1%), products of plant origin –$39,964.1 thousand (an increase of 71.2%), "base metals and articles thereof - $31,995.7 thousand (down 36%), "devices - $27,709.2 thousand (down 19%),

Imports

According to statistics, the volume of imports to Armenia for the first two months of 2025 amounted to $1,744,758.9 thousand, recording a 45.8% decline compared to the first two months of 2024.

Imports from Russia ($539,131.1 thousand, a decline of 74.1%). The volume of imports from the EU by exporting countries in January-February of the current year decreased by 10% compared to January-February of the previous year, amounting to $254,299.3 thousand, and by producing countries the growth was 5.7% to $224,396.4 thousand.

The top three exporting countries are Germany ($47,685.3 thousand, a decline of 27.2%), Italy ($44,792.6 thousand, a decline of 1.2%), and the Netherlands ($24,553.4 thousand, a decline of 3.3%). Among producing countries, the leaders are Germany ($46,558.2 thousand, a decline of 18.3%), Italy ($44,054.1 thousand, a decline of 13.5%), and France ($16,575.4 thousand, an increase of 12.1%). Other countries with the largest import volumes in terms of exporting countries include China ($235,623.4 thousand, up 77.7%), Georgia ($101,476.8 thousand, up 3.9%), Iran ($85,465.9 thousand, up 15.5%), the United States ($61,669.8 thousand, down 23.4%) and the UAE ($58,879.2 thousand, down 31.6%).

According to official statistics, for January-February 2025, the prevailing imports were products in the following commodity groups: machinery, equipment and mechanisms - $ 411,290.1 ​​thousand (a decline of 4%), precious and semi-precious stones, precious metals - $ 234,884.94 thousand (a decline of 86.7%), mining industry - $ 220,885.6 thousand (an increase of 5.5%), land, air and water transport vehicles - $ 234,884.9 thousand. (a decline of 86.7%), finished products of the food industry - $98,364.8 thousand (an increase of 28%), base metals and products thereof - $90,332.1 thousand (an increase of 16.2%), textiles - $84,095.4 thousand (a decline of 23.6%), products of the chemical and related industries - $81,784.7 thousand (a decline of 23.6%). -0-