Key Trading Partners of Armenia for January-February 2024 Include Russia, UAE, and China

In the first two months of 2024, Russia, the United Arab Emirates (UAE), and China continue to be Armenia’s top trading partners, as reported by the Statistical Committee. The data reveals that Armenia’s total foreign trade volume has doubled in January-February compared to the same period last year, reaching .3 billion.

Russia stands out as Armenia’s leading trading partner, with trade turnover increasing by 2.2 times to .1 billion in January-February of this year. Exports to Russia amounted to 0 million, while imports from Russia surged to .618 billion.

The United Arab Emirates ranked third on Armenia’s list of trading partners, with trade turnover reaching .2 billion in January-February, a remarkable 716% increase from the previous year. This surge is attributed to a substantial growth in Armenian exports to the Emirates.

China holds the third position in trade volumes with Armenia, amounting to 1 million. Trade with China saw an 84.5% increase in the first two months of 2024, with exports to China rising sharply to 6 million and imports reaching 5 million.

Interestingly, the European Union, previously Armenia’s largest trading partner, now ranks fourth on the list as of January 2024. Trade turnover with the EU decreased by 19% in January-February compared to the same period in 2023, totaling 2 million.

Armenian exports to the EU during this period dropped by 27% to million, while imports from EU countries decreased by 15.7% to 7 million. The shifting dynamics in Armenia’s trade relationships reflect evolving global trends and market dynamics.