Yugalinks
Start Free

Country intelligence · ARM · 2024

Armenia trade profile

In 2024, Armenia recorded $13.2B in merchandise exports and $15.8B in imports, producing a $2.6B trade deficit. Exports changed +51.0% from the previous year, while imports changed +46.1%.[1]

Exports

$13.2B

+51.0%

Imports

$15.8B

+46.1%

Trade balance

-$2.6B

deficit

Active partners

270

40 FTA-linked

Historical evidence

Ten-year trade movement

The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports

Exact annual values

YearExportsImportsBalanceExport growth
2024$13.2B$15.8B-$2.6B+51.0%
2023$8.7B$10.8B-$2.1B+51.3%
2022$5.8B$10.7B-$4.9B+71.5%
2021$3.4B$5.8B-$2.4B+16.9%
2020$2.9B$5.3B-$2.4B-1.7%
2019$2.9B$4.3B-$1.4B+19.2%
2018$2.5B$4.0B-$1.6B+15.4%
2017$2.1B$3.5B-$1.4B+14.8%
2016$1.9B$2.8B-$968.0M+33.7%
2015$1.4B$2.9B-$1.5B-4.7%

Leading export sectors

HS2 chapters rank broad product groups by observed export value in 2024.

1

HS 71 · Precious metals and stones

43 active HS6 lines · 56 export partners

$8.6B
2

HS 85 · Electrical machinery

256 active HS6 lines · 91 export partners

$1.1B
3

HS 26 · HS chapter

16 active HS6 lines · 24 export partners

$559.9M
4

HS 22 · HS chapter

24 active HS6 lines · 74 export partners

$408.9M
5

HS 24 · HS chapter

10 active HS6 lines · 53 export partners

$363.9M
6

HS 62 · HS chapter

112 active HS6 lines · 89 export partners

$290.1M
7

HS 84 · Machinery

505 active HS6 lines · 96 export partners

$231.9M
8

HS 72 · HS chapter

127 active HS6 lines · 31 export partners

$154.5M

Leading export markets

Destinations rank bilateral export flows from Armenia; growth describes each corridor rather than the whole economy.

1

United Arab Emirates

Annual change +120.1% · 3-year CAGR 320.4%

$5.7B
2

Russia

Annual change -10.6% · 3-year CAGR 62.9%

$3.1B
3

Hong Kong

Annual change +215.8% · 3-year CAGR 587.1%

$2.0B
4

China

Annual change +175.3% · 3-year CAGR -16.7%

$482.7M
5

Iraq

Annual change +28.6% · 3-year CAGR 9.4%

$232.2M
6

Georgia

Annual change -12.3% · 3-year CAGR -16.1%

$158.1M
7

Iran

Annual change +4.6% · 3-year CAGR 21.0%

$132.9M
8

Belarus

Annual change +226.9% · 3-year CAGR 64.4%

$124.8M

Sources, definitions and limitations

[1] Primary trade source

OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.

Calculation notes

USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.

Data sourcesMethodologyOpen country workspace