Armenia is one of those countries that imports more than it exports…much more.

In 2015, Armenia imported US$ 3.254 billion in goods and exported $ 1.487 billion, resulting in a trade deficit of $1.767 billion.

The top ten countries Armenia imported from in 2015 were Russia (29.1% of overall imports), China (9.7%), Germany (6.2%), Iran (6.1%), Turkey (4.2%), Italy (4.6%0, Ukraine (3.8%), USA (3.3%), Georgia (2.1%), France (2%).

Imports from Russia declined by 15.6% in 2015 when compared to 2014; France by 18.4%, Germany by 28.7%, Italy by 17.4%, USA by 18.5%, Iran by 3.9%, Turkey by 41%, China by 24.2%, Georgia by 7.1%, and Ukraine by 38.2%.

Georgia is the only country with which Armenia has a positive trade balance. Last year, Armenia exported $116 million in goods to Georgia and imported $67 million.

Despite dropping imports, Armenia still imports twice as much as it exports.

In 2011 Armenia imported $4.145 billion in goods and exported $1.334 billion.

In 2012 Armenia imported $4.261 billion and exported $1.380 billion.

In 2013 Armenia imported $4.385 billion and exported $1.478 billion.

In 2014 Armenia imported $4.424 billion and exported $1.547 billion.

In 2015 Armenia imported $3.254 billion and exported $1.487 billion.

Overall, imports from CIS countries dropped by 18.5% and by 31.3% from the European Union.