Armenia's foreign trade in 2024 exceeded $30 billion; growth had been slowing for six months
06.02.2025,
11:27
Armenia's foreign trade in 2024 surged by 41.5% from 2023 to over $30.1 billion, according to the numbers, released by the National Statistical Committee.
YEREVAN, February 6. /ARКА/. Armenia's foreign trade in 2024 surged by 41.5% from 2023 to over $30.1 billion, according to the numbers, released by the National Statistical Committee.
Armenia's foreign trade in the first half of last year doubled, with growth of 95% in 7 months, 79.6% in 8 months, 73.5% in 9 months, 67.6% in 10 months, and 54% in 11 months.
In December 2024, the foreign trade totaled $1. 9 billion, a decrease of 37.3% compared to December 2023, and 4.4% compared to November 2024.
Armenia's largest foreign trade partners were Russia with trade turnover standing at $12.4 billion, an increase of 56.5% compared to 2023.
Armenia's foreign trade turnover with the EU countries was over $2.3 billion, a decline of 11.7% yoy.
Armenia’s trade with the UAE totaled over $5.3 billion, an increase of 2.3 times. Trade with China amounted to over $2.8 billion, an increase of 34.4%. Trade with Iran stood at $737.4 million, an increase of 6.5%. Trade with the USA fell to $410.5 million.
Exports
Exports from Armenia in 2024 compared to 2023 increased by 53.1%, amounting to over $13. billion. Exports to Russia declined by 11% to over $3.1 billion.
Exports to the EU countries decreased by 13.8% compared to 2023, amounting to $611.6 million.
Exports to the UAE grew by 2.4 times to over $5.2 billion, exports to China grew by 2.6 times to about $1.1 billion.
According to statistics, the most significant export items in the reporting period were precious and semi-precious stones, precious metals – over $8 billion (an increase of 2.5 times compared to 2023), machinery, equipment and mechanisms – over $1.3 billion
Imports
Imports to Armenia in 2024 amounted to over $17 billion, having recorded an increase of 33.8% compared to 2023. In December 2024, this figure was $757.4 million, having decreased by 48.6% compared to December 2023, and by 1.3% compared to November 2024.
Imports from Russia more than doubled to over $9.4 billion. Imports from the EU decreased by 9.4%, amounting to $2 billion.
Imports from China grew by 4.2% to over $1.1 billion. The prevailing imports were precious and semi-precious stones, precious metals and products - $7.4 billion. (an increase of 2.7 times), machinery, equipment and mechanisms - $2.7 billion (an increase of 7.1%) -0-0
Armenia's foreign trade in the first half of last year doubled, with growth of 95% in 7 months, 79.6% in 8 months, 73.5% in 9 months, 67.6% in 10 months, and 54% in 11 months.
In December 2024, the foreign trade totaled $1. 9 billion, a decrease of 37.3% compared to December 2023, and 4.4% compared to November 2024.
Armenia's largest foreign trade partners were Russia with trade turnover standing at $12.4 billion, an increase of 56.5% compared to 2023.
Armenia's foreign trade turnover with the EU countries was over $2.3 billion, a decline of 11.7% yoy.
Armenia’s trade with the UAE totaled over $5.3 billion, an increase of 2.3 times. Trade with China amounted to over $2.8 billion, an increase of 34.4%. Trade with Iran stood at $737.4 million, an increase of 6.5%. Trade with the USA fell to $410.5 million.
Exports
Exports from Armenia in 2024 compared to 2023 increased by 53.1%, amounting to over $13. billion. Exports to Russia declined by 11% to over $3.1 billion.
Exports to the EU countries decreased by 13.8% compared to 2023, amounting to $611.6 million.
Exports to the UAE grew by 2.4 times to over $5.2 billion, exports to China grew by 2.6 times to about $1.1 billion.
According to statistics, the most significant export items in the reporting period were precious and semi-precious stones, precious metals – over $8 billion (an increase of 2.5 times compared to 2023), machinery, equipment and mechanisms – over $1.3 billion
Imports
Imports to Armenia in 2024 amounted to over $17 billion, having recorded an increase of 33.8% compared to 2023. In December 2024, this figure was $757.4 million, having decreased by 48.6% compared to December 2023, and by 1.3% compared to November 2024.
Imports from Russia more than doubled to over $9.4 billion. Imports from the EU decreased by 9.4%, amounting to $2 billion.
Imports from China grew by 4.2% to over $1.1 billion. The prevailing imports were precious and semi-precious stones, precious metals and products - $7.4 billion. (an increase of 2.7 times), machinery, equipment and mechanisms - $2.7 billion (an increase of 7.1%) -0-0
