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Armenia's foreign trade grows by 99.4% in four months to over $5.8 bln

05.06.23 22:00

Armenia's foreign trade in January-April 2023 surged by 99.4% year-on-year to over $5.8 billion, according to the National Statistical Committee. In April 2023 alone, the foreign trade soared by 83.5% from April 2022 to about $1.5 billion.

Foreign trade with CIS countries amounted to over $2.1 billion, increasing 2.2 times compared to the same period last year. Russia was the biggest foreign trade partner of Armenia accounting for over $2 billion of bilateral trade, which was a 2.3 times increase against the first four months of 2022.

Armenia's foreign trade with EU countries grew by 57.1% to about $918.5 million. The top largest trade partner was Germany - $230.5 million, up 92.5% year-on-year. The trade with China grew by 51.3% to $642.7 million.

Armenia's exports in January-April 2023 increased 2.1-fold against January-April 2022 to over $2.1 billion. In April 2023 alone, the exports amounted to $536.5 million, an 81.3% increase against April 2022, and a 13% decrease against March 2023.

Armenian exports to the CIS countries during the reporting period of 2023 amounted to over $1.1 billion, having increased by 3.74 times compared to the same period last year. Armenian exports to Russia grew by 3.8 times to over $1 billion.

Exports to EU countries decreased by 9.5% compared to January-April 2022, to about $235 million. Armenia's exports to Netherlands grew by 51% to about $116 million.

Armenia's imports totaled over $3.6 billion, registering a 93.9% increase compared to January-April 2022. I

Imports from CIS countries totaled over $1 billion, an increase of 49.8% over the same period last year. Imports from Russia grew to over $1 billion.

Imports from the EU countries increased 2.1 times during the reporting period, amounting to over $728 million. Imports from Germany grew by 2.4 times to about $204 million, ARKA reports.
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