Armenia exported US$1.783 billion worth of goods and services in 2016, up 20% over the previous year.
Armenia imported $3.292 billion worth of goods and services in 2016, up 1.6% over 2015.
If we look at Armenia’s trade volume starting in 2012, we see the following picture:
2012: Imports – $4.261b Exports - $1.38b
2013: Imports - $4.386b Exports - $1.479b
2014: Imports - $4.424b Exports - $1.547b
2015: Imports - $3.329b Exports - $1.485
2016: Imports -$3.292 Exports - $1.783b
23.1% of Armenia’s exports in 2016 went to CIS countries, mostly to Russia.
26.9% of Armenia’s exports went to EU nations.
The remaining 50.1% went to the rest of the world.
The top ten importers of Armenian goods and services are: Russia (20.8%), Bulgaria (8.5%), Georgia (8.2%), Germany (7.8%), Canada (7.8%), Iraq (7.7%), China (5.4%), Iran (4.2%), Switzerland (4.2%) and the UAE (3.6%).
The U.S.A. imported a mere 2.2% of goods and services exported from Armenia.
Exports to Russia rose 51.5% and to Bulgaria by 93.1% in 2016. Exports to the UAE grew seven-fold. Exports to China decreased by 41.7% last year.
Exports from Armenia, as expected, aren’t that diversified. 80% of exports are restricted to just four sectors – mineral ores (26.4%), prepared foodstuffs (23.4%, precious and semi-precious stones/metals and items derived from them (18.9%), non-precious metals and items derived from them (12.4%).
Top photo: kalizea.com