Sharp decline in diamond and gold re-exports leads to decline in exports and imports in Armenia – WB

YEREVAN, June 25. /ARKA/. In April, Armenia's both exports and imports continued to fall, due to the unwinding of the temporary surge in re-exports, according to World Bank's Armenia Monthly Economic Update – June 2025..

Exports and imports fell 57.3 percent (yoy) and 43.8 percent (yoy), respectively, as re-exports of precious and semi-precious stones continued to decline sharply.

Diamond and gold exports fell 85 percent (yoy) and 74.2 percent (yoy), respectively. Among traditional exports, ready food products (up 33 percent) and footwear (up five-fold) were the greatest contributors to export growth.

Excluding trade in precious metals and stones, the main re-export items in 2024, total exports and imports grew by 5 percent (yoy) and 9 percent (yoy), respectively.

Cumulatively, over the January-April period, exports and imports fell 60.4 percent (yoy) and 46.5 percent (yoy), respectively, with the trade deficit widening 31.1 percent (yoy), to USD 1.4 billion. In this period, the share of exports to Russia declined to 35.1 percent, compared with 44.1 percent over January-April 2024. The United Arab Emirates’s share also declined, to 11.6 percent, while that of the EU and China increased to 11.6 percent and 12.2 percent, respectively.

According to Armstat, Armenia's foreign trade turnover in January-April 2025 decreased by 52.9% compared to the same period in 2024 and amounted to almost $6.28 billion. Exports decreased by 60.4% to $2.42 billion, while imports amounted to almost $3.86 billion, recording a decline of 46.5%. -0-