In the first half of 2024, Armenian wine exports showed a significant slowdown in growth, declining from 17.6% to 3.6% year-on-year, with total exports reaching 2.1 million liters. However, the customs value of exported wine increased by 10.1%, amounting to $8.3 million, according to Armenia's Customs Service.
The Russian market remains the dominant destination for Armenian wine exports, although its share decreased slightly from 85.5% to 82.7%. The United States strengthened its position, increasing its share from 4.2% to 8.5%. Among European countries, the primary importers were France (1%), Poland (0.9%), and Belgium (0.8%), writes Finport.
At the same time, wine imports to Armenia grew by 19.5%, reaching 541,000 liters, although the customs value of these imports decreased by 1.6% to $3.1 million. The Armenian market is dominated by Spanish (39%) and Italian (25.7%) wines, followed by French (7.9%), New Zealand (6.5%), and Australian (5.2%) wines.
Against this backdrop, domestic wine production experienced a sharp decline. According to Armenia’s Statistical Committee, wine production in the country fell by 38.5% in the first half of 2024, amounting to 4.4 million liters.
