Armenia's foreign trade turnover in the first half of the year decreased by 0.1%, amounting to $9.57 billion: stagnation amid a shift in geography

YEREVAN, August 7. /ARKA/. Armenia's foreign and mutual trade turnover in January-June 2026, compared to January-June 2025, decreased by 0.1%, amounting to $9,570,938.7 thousand, according to the Statistical Committee.

In June 2026, this figure amounted to $1.65 billion, a decrease of 3.3% compared to June of last year, and an increase of 7.3% compared to May of this year.

Foreign Trade Turnover (January-June 2026 vs. January-June 2025)

With the EAEU — $2.82 billion, a 19% decline

With the CIS — $2.97 billion, a 16.6% decline, including:

Russia ($2.63 billion, a 20.9% decline)

Belarus ($122.3 million, an 18.8% increase)

Ukraine ($69.1 million, an 38.8% increase)

With the EU — $1.69 billion, a 46.2% increase, including:

Germany ($289.5 million, an 32.5% increase)

Italy ($229.1 million, an 11.6% increase)

Bulgaria ($223.3 million, an 5.3-fold increase)

Top 3 largest foreign trade partners by country:

China ($1.47 billion, up 22.9%)

Iran ($371.45 million, up 8.4%)

UAE ($307.5 million, down 72.8%)

Exports

Armenia's exports in January-June 2026, compared to January-June 2025, decreased by 6.7%, amounting to $3,431,317.0 thousand. In June of this year, this figure amounted to $556.7 million, a 20.5% decline compared to June of last year, and a 5% increase compared to May of this year.

With the EAEU — $1.32 billion, a 4.2% decline

With the CIS — $1.38 billion, a 2% decline, including:

Russia ($1.22 billion, a 4.2% decline)

Belarus ($64.7 million, a 1.8% decline)

Turkmenistan ($25 million, a 77.8% increase)

With the EU — $516.49 million, an 80.2% increase, including:
Bulgaria ($179.7 million, a 6.1-fold increase)

Belgium ($113.7 million, a 2.1-fold increase)

Germany ($53.9 million, a 1.6% increase)

Top three exporters among other countries:

China ($526.5 million, an 82.6% increase)

UAE ($280 million, a 74.3% decrease)

Iraq ($177.3 million, an increase of 3.7%)

The most significant export items:

Mining products — $931.4 million, an increase of 80.3%

Finished food products — $594.8 million, an increase of 5.2%

Precious and semi-precious stones, precious metals, and articles thereof — $588.8 million, a decrease of 52.6%
Imports

The volume of imports to Armenia in January-June 2026 amounted to $6,139,621.7 thousand, an increase of 4% compared to January-June 2025. In June of this year, this figure was $1,096.9 million, an increase of 8.6% compared to June of last year, and 8.5% compared to May of this year.

Data by exporting country is provided below. With the EAEU — $1.57 billion, a decline of 27.9%

With the CIS countries — $1.68 billion, a decline of 25.4%, including:

Russia ($1.47 million, a decline of 30.6%)

Ukraine ($65 million, an increase of 36.1%)

Belarus ($57.5 million, an increase of 45.3%)

With the EU countries — $1.29 billion, an increase of 28.4%, including:

Germany ($240.6 million, an increase of 22.2%)

Italy ($175.8 million, a decline of 3.3%)

France ($113.3 million, an increase of 92.4%)

The top three countries among other countries by import volumes:

China ($686.3 million, an increase of 6.3%)

Georgia ($437.7 million, an increase of 27.7%)

Iran ($336.9 million, up 12%)

The most significant import items were:

machinery, equipment, and mechanisms — $1.5 billion, up 24.6%

land, air, and water transport — $724.6 million, up 34.3%

mining products — $687.3 million, up 23.1%

Armenia's Foreign Trade: Stagnation in Overall Turnover with a Noticeable Shift in Geography and Structure

The virtually flat dynamics of foreign trade turnover in the first half of 2026 conceals a significant restructuring of trade flows. Against the backdrop of a sharp decline in trade with the EAEU, and especially with Russia, turnover with the EU, China, and a number of other destinations increased significantly. This indicates a gradual diversification of Armenia's foreign trade and a decrease in concentration on traditional markets.

However, the trade structure remains unbalanced: exports decreased by 6.7%, while imports increased by 4%. As a result, a significant gap remains between imports and exports. Import growth is largely driven by machinery, equipment, and vehicles, which may reflect increased investment and the upgrading of the production base, but also increases domestic demand's dependence on external supplies.

Among exports, the most notable growth is in mining products, while shipments of precious metals and stones have declined by more than half. This indicates a significant change in the commodity composition of exports and likely partially explains the sharp fluctuations in trade with certain countries, particularly the UAE.

Thus, weak exports amid growing imports remains a key risk.