According to data from the Federal Customs Service of Russia, Armenia ranked among Russia's top ten largest trade partners for January–October 2024. As reported by RBC, Armenian-Russian trade accounted for 1.8% of Russia's total trade turnover.
The top positions on the list of Russia's main trade partners are held by China, with a 33.8% share, and India, with 8.8%. Italy (1.5%) and Uzbekistan (1.4%) complete the top ten.
Earlier, BMG noted that Russia consistently maintains its leadership in trade volumes with Armenia. In January–October this year, trade turnover with Russia increased by nearly 91.4%, amounting to over $10.8 billion. However, exports to Russia declined by 13.6%, dropping from $3 billion last year to $2.5 billion in the first ten months of 2024. Meanwhile, imports from Russia tripled, reaching approximately $8.4 billion.
During the reporting period, Russia's share in Armenia's foreign trade structure also grew from 36.3% last year to 41.5%.
