In January 2024 Russia, the United Arab Emirates (UAE), and China emerged as Armenia's primary trading partners, according to data presented by the Statistical Committee.
According to the report, Armenia's total foreign trade volume in January of this year increased by 78.8% compared to the same period last year, reaching $2.1 billion.
According to the Statistical Committee, Russia ranks first in terms of trade volumes with Armenia. In January of the current year, trade turnover with Russia increased by 93%, amounting to $861 million in monetary terms. Export to Russia amounted to $247 million (a 5.5% increase), while imports from Russia almost tripled, reaching $630 million.
The share of Russia in Armenia's foreign trade turnover structure also increased from 37% to 40.1% in January of the current year.
The UAE ranked third in the list of Armenia's foreign trade partners, with trade turnover in January increasing nearly sevenfold compared to the same month last year, reaching $339 million. According to the Statistical Committee, such a sharp increase in trade is attributed to the significant growth of Armenian exports to the UAE.
In January of the current year, Armenia exported goods worth $335 million to the UAE, while imports did not exceed $3.6 million. The share of the UAE in the foreign trade turnover structure also sharply increased from 4.1% to 15.8% in January of the current year.
China occupies the third place in terms of trade volumes with Armenia, with a result of $199 million. Trade with this country increased by 9.3%. Exports to China increased 2.3 times to $94 million, while import growth was only 3.2%, amounting to approximately $105 million in monetary terms.
The European Union, which was Armenia's largest trading partner for years, ranked fourth in the list in January 2024. Trade turnover with the EU in January of the current year decreased by 16.3% compared to the same month in 2023, amounting to $140 million.
Armenian exports to the EU during the reporting period decreased by 38% to $33 million. Volumes of imports from EU countries decreased by 24.4%, amounting to $106.8 million in monetary terms.
