According to the Statistical Committee, from January to April 2024, Russia, the United Arab Emirates (UAE), and China became Armenia's leading trade partners.
The report states that Armenia's total foreign trade volume in the first four months of this year grew 2.4 times compared to the same period last year, reaching $13.7 billion.
Data from the Statistical Committee shows that Russia maintains the lead in trade volumes with Armenia. From January to April this year, trade turnover with Russia increased 3.1 times, amounting to $6.3 billion. However, exports to Russia fell by 22%, from last year's $1.07 billion to $844 million in the first four months of this year, while imports from Russia increased fivefold, exceeding $5.5 billion.
During the reporting period, Russia's share in Armenia's foreign trade structure increased from last year's 35.2% to 46%.
The UAE ranked second among Armenia's foreign trade partners, with trade turnover from January to April growing almost 7.3 times compared to the same period last year, reaching $2.85 billion. According to the Statistical Committee, this surge in trade is due to a sharp increase in Armenian exports to the Emirates.
From January to April this year, compared to the same period in 2023, Armenia exported goods worth $2.8 billion to the UAE, while imports did not exceed $15 million. The UAE's share in the foreign trade structure also increased significantly, from last year's 6.7% to 20.8% in January-February this year.
China holds third place in trade volumes with Armenia, totaling $1.03 billion. Trade with China increased by 61% in the first four months of 2024. Armenian exports to China jumped 4.4 times to $588 million, while imports decreased by 12% to $445 million.
The European Union, which was Armenia's largest trading partner in previous years, ranked fourth from January to April 2024. Trade turnover with the EU decreased by 24.3% to $695 million.
Armenian exports to the EU during the reporting period decreased by 22.3% to $182.6 million. Imports from EU countries fell by 25%, with Armenia importing goods worth $512 million from the EU in the first four months of 2024.
