Armenia's Foreign Trade is Changing: Trade with Russia Decreased, Exports to EU Increased Due to Raw Materials

In the first half of 2026, significant changes have been recorded in Armenia's foreign trade directions. According to the Statistical Committee of Armenia, trade turnover with Russia has decreased by 20.9% compared to the same period last year, as reported by Sputnik Armenia. The total volume of trade with Russia has dropped from approximately $3.33 billion to $2.63 billion.

Exports from Armenia have seen a slight reduction, decreasing from $1.28 billion to $1.23 billion, while imports have experienced a more notable decline from $2.04 billion to $1.4 billion. One of the main reasons for this decline is the reduction in re-export volumes. Simultaneously, the supply of fruits and vegetables from Armenia to Russia has also decreased. In the previous period, about $85 million worth of agricultural products were exported, but this figure has now fallen to $56 million.

Trade with EU countries has seen an increase, primarily due to the export of raw materials. In particular, the growth of trade with Belgium and Bulgaria has been attributed to the supply of copper concentrate. Meanwhile, the export of finished products, fresh fruits, vegetables, wine, and cognac to the EU market remains limited.

Trade turnover with the United States has increased, rising from $180 million to $256.1 million. However, exports to the US have not yet returned to previous levels following anti-dumping measures imposed on aluminum foil. There has also been growth in trade with China and Iran. Trade turnover with China has increased to $1.47 billion, mainly due to the supply of precious metals as well as copper and molybdenum concentrates.