Armenia Significantly Increases Imports from Russia but Reduces Imports from Other Countries

According to data published by the Statistical Committee of Armenia, the country’s imports totaled $10.48 billion in January-June 2024.

Compared to the same period in 2023, the volume of imports increased by 86.54% or $4.86 billion.

The largest volumes of imports continue to come from Russia. During the reporting period, imports from Russia grew by 369.70% or $5.55 billion, reaching $7.05 billion, which accounts for 67.25% of total imports.

China ranks second, with imports amounting to $442.8 million, a decrease of 1.04% or $4.6 million. China’s share of imports stands at 4.23%.

Georgia ranks third, with imports totaling $345.7 million, down by 31.43% or $158.4 million. Georgia’s share of imports is 3.30%.

Iran holds the fourth position, with imports amounting to $273.18 million, a decrease of 7.13% or $20.97 million. Iran’s share in imports is 2.61%.

The UAE ranks fifth, with imports totaling $233.02 million, down by 25.36% or $79.2 million. The UAE’s share of imports stands at 2.22%.

Regarding integration unions, imports from CIS countries increased by 340.48%, reaching $7.16 billion, including imports from EAEU countries, which grew by 353.53% to $7.11 billion. Meanwhile, imports from the European Union decreased by 18.46% to $922.94 million.

By country of origin, the picture of imported products to Armenia is as follows:

In January-May 2024, imports of Russian products to Armenia amounted to $6.957 billion, which is 4.8 times more than the previous year.

Imports of Chinese products amounted to $693.1 million, a decrease of 11.7%. Imports of Iranian products totaled $270.1 million, down by 7%. Imports of American products reached $205.8 million, a decrease of 43.9%.

Imports of German products amounted to $195.96 million, a decrease of 35.3%. Imports of Italian products totaled $165.7 million, down by 3.2%. Imports of French products amounted to $64.42 million, down by 15.3%.

Imports of Georgian products amounted to $57.64 million, an increase of 10.6%. Imports of Korean products amounted to $55.6 million, a decrease of 29.4%. Imports of Japanese products totaled $50.64 million, a decrease of 77.2%.