From January to November 2024, Armenia’s export volume reached a record $12.3 billion, marking a significant growth of 73.87% or $5.2 billion compared to the same period in 2023.
According to the Statistical Committee, the United Arab Emirates emerged as Armenia’s largest export destination, recording a dramatic increase of 262.58%. Exports to the UAE amounted to $5.03 billion, rising by $3.6 billion and accounting for 40.88% of the country's total export volume.
Russia, traditionally the top export destination, moved to second place. Exports to Russia declined by 10.18% to $2.95 billion, making up 23.98% of total exports. China ranked third, with exports totaling $1.05 billion, showing a substantial increase of 175.83% and capturing an 8.52% share of the export market.
Other notable trade partners include Iraq ($220.8 million, up 37.39%), Georgia ($155.6 million, up 20.44%), and the Netherlands ($114.5 million, down 50.98%). The top ten export destinations also included Belgium, Belarus, Switzerland, and Iran.
In terms of trade with international blocs, exports to CIS countries fell by 10.09% to $3.16 billion. Exports to the EAEU countries decreased by 10.25% to $3.12 billion. Exports to the European Union also declined, dropping by 18.6% to $551.9 million, which accounted for 4.48% of the total export volume.
