Armènia: Visió econòmica i política
Foreign trade in Armenia represents 70.1% of GDP (World Bank, latest data available). The country follows an open and liberal policy in regard to international commerce. Overall, minerals represent more than half of total exports. Main export commodities include copper ores, gold, cigars, and alcohol. Armenia mainly imports petroleum gases and oils, medicaments, radio-telephony transmission tools, and diamonds.
Armenia's main export partners are Russia (26.2%), Switzerland (18.1%), China (11.5%), Iraq (6.5%) and Bulgaria (6%). The Russian Federation is also the main import partner (32.7%), followed by China (14.5%), Iran (6.9%), Belgium (5.2%) and Turkey (5%). The country has been searching for new energy sources, especially after the Russian-Georgian conflict, which temporarily disrupted its hydrocarbon supply and revealed the country's energy vulnerabilities. Tensions remain with a couple of its neighbouring countries, such as Azerbaijan and Turkey, and have an impact on trade. Armenia's closeness with Russia and its adhesion to the Eurasian Economic Union limit the country's ability to further integrate with the EU (that considered as a whole is the country’s main export destination).
The country has a structural trade deficit, which was estimated at 9.9% of GDP in 2020 (World Bank). According to figures by WTO, in 2020, Armenia exported goods with a total value of USD 2.5 billion (-3.6% year-on-year), while it imported goods with a total value of USD 4.5 billion (recording a contraction of 17.3%). With regards to services, the country exported USD 1 billion worth of services in 2018, while it imported USD 947 million (-55% and -60.7% vis-à-vis one year earlier, respectively). According to the latest figures by the National Statistics Committee (NSC), exports from Armenia in 2021 grew by 19.1% to USD 3.022.4 billion (driven by the good performance of gold and copper ores), with imports growing at a slower pace (+16.9% - at USD 5,356.8 billion).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 4,189 | 4,963 | 5,514 | 4,559 | 5,357 |
Exports of Goods (million USD) | 2,245 | 2,412 | 2,640 | 2,544 | 3,023 |
Imports of Services (million USD) | 1,921 | 2,125 | 2,414 | 947 | 1,258 |
Exports of Services (million USD) | 1,880 | 2,174 | 2,385 | 1,076 | 1,681 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 87.2 | 92.5 | 96.1 | 69.5 | 79.2 |
Trade Balance (million USD) | -1,405 | -1,763 | -1,722 | -1,382 | -1,505 |
Trade Balance (Including Service) (million USD) | -1,244 | -1,753 | -1,809 | -1,264 | -1,108 |
Imports of Goods and Services (Annual % Change) | 24.6 | 13.3 | 11.6 | -31.5 | 12.9 |
Exports of Goods and Services (Annual % Change) | 19.3 | 5.0 | 16.0 | -33.5 | 16.6 |
Imports of Goods and Services (in % of GDP) | 49.0 | 53.1 | 54.8 | 39.7 | 43.8 |
Exports of Goods and Services (in % of GDP) | 38.2 | 39.4 | 41.4 | 29.8 | 35.3 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 27.6 | -0.1 | 5.1 | 5.8 | 5.5 |
Volume of imports of goods and services (Annual % change) | 18.9 | -2.7 | 4.4 | 5.4 | 5.3 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Russia | 26.8% |
China | 13.3% |
Switzerland | 12.1% |
Bulgaria | 6.7% |
Netherlands | 6.4% |
See More Countries | 34.7% |
Main Suppliers (% of Imports) |
2021 |
Russia | 33.5% |
China | 16.2% |
Iran | 8.2% |
Italy | 4.2% |
Germany | 3.9% |
See More Countries | 33.9% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023