In our recent article 2020 - Armenia’s Top 10 Foreign Trade Partners, we wrote that 2020 was a year of decline for both the entire Armenian economy and foreign trade. 

According to Armenia’s Statistical Committee, goods worth $ 2.544 billion were exported from Armenia in 2020, a decrease of 3.9% compared to 2019.

In 2020, Armenia imported goods worth 4.559 billion, a decline of 17.7%.

The leading export markets for Armenia in 2020 were Russia (26.6% of total exports), Switzerland (18.4%), China (11.4%), Iraq (6.4%) and Bulgaria (5.9%). 

Armenian Exports: Mineral Ore, Alcohol, Tobacco, Precious Stones

The largest product group exported from Armenia is ore, mainly copper concentrate and molybdenum concentrate. In 2020, $828 million worth of mineral products were exported, an increase of 11.5% compared to 2019. Thus, 32.5% of Armenia's exports consisted of solely raw materials. This, of course, is not new, as the mining industry in Armenia has grown steadily for years.

The ready-made food products (alcohol, tobacco) product group is the second largest sector of Armenia's export. Goods worth about $560 million were exported; 12.8% less than in 2019.

The third largest group of exported goods includes precious and semi-precious stones, precious metals and items made from them. This group mainly consists of   diamonds and gold, which is exported in the form of silver alloys, jewelry. Exports of this group amounted to some $366 million last year, a drop of 11.8% compared to 2019.

The fourth largest export group consists of non-precious metals and items made from them. In 2020, these exports amounted to $228 million, down 12.6% from the previous year. This group includes black metals and articles made from them. It includes aluminum foil, one of the products with the highest customs value exported from Armenia.

The fifth largest group of exported products consists of fruits and vegetables. In 2020, about $136 million worth of plant products were exported from Armenia, 27.3% more than in 2019.

One of the major groups of exported goods is textiles (clothes, textiles, cotton, threads, etc.), the export of which decreased by 21.6%.

These five product groups comprised 87% of total Armenian exports.

Armenian Imports: Equipment, Computers, Telephones, Natural Gas,

In 2020, Armenia mainly imported the machines, equipment, agricultural equipment, heating boilers, computers, telephones, etc. The total volume of imports of this product group amounted to $874 million, an increase of 1% compared to 2019.

Raw materials came in second - $745 million, a decrease of 8.5%. These imports mainly consisted of gas and oil, and, to a lesser extent – cement and gypsum.

The third largest group of goods imported to Armenia are chemicals and related industries. In 2020, these imports amounted to $414.5 million,11.9% less than the previous year. This product group includes medicines, blood (serum, vaccine), as well as various paints, varnishes, detergents, cleaners, etc.

In 2020, Armenia imported $394 million worth of ready-made food products, alcohol and tobacco, a drop of 9.9% compared to the previous year.

The fifth largest group of imported goods consist of non-precious metals and items made from them. Imports amounted to $358 million, 3.5% more than in 2019. Products made of these metals are imported: rods, metal constructions, raw aluminum, etc.

These five major product groups accounted for 61% of Armenia's imports in 2020.  

In addition to the above five product groups, the top ten includes products of plant origin, textiles, plastics, rubber and articles made thereof, vehicles, precious and semi-precious stones and metals.

These top ten groups accounted for 83% of Armenia’s imports last year.

As expected, after the boom of car imports in 2019,  import volumes decreased by 74.4% in 2020.