Exports from Armenia to EAEU Countries Increased, Decreased to EU Countries

In 2023, Armenia exported goods worth $8 billion 415 million 155.1 thousand, representing a 55.3% increase compared to 2022. Notably, exports to the countries of the Eurasian Economic Union (EAEU) increased, while exports to EU countries decreased, according to statistics published by the Statistical Committee.

Exports to EAEU countries grew by 40.8%, amounting to $3 billion 609 million 284.8 thousand. In contrast, exports to EU countries decreased by 8.2%, totaling $709 million 514.7 thousand.

Traditionally, the largest volume of exports from Armenia has been directed to the Russian Federation, amounting to $3 billion 418 million 641.6 thousand, which is an increase of 38.8% compared to 2022. The growth in exports is not only observed in Russia, but also to other EAEU countries. Exports to Kyrgyzstan increased 4.8 times last year, reaching $27 million 392.6 thousand. Exports to Kazakhstan grew 3.8 times, totaling $71 million 320.8 thousand, while Belarus saw its export volume rise to $91 million 929.9 thousand, an increase of 19.5% compared to 2022.

Regarding EU countries, despite the overall decline in export volumes, significant increases were recorded in exports to individual EU countries. The Netherlands ranked fourth in terms of export volumes from Armenia (after Russia, the UAE, and China) with $234 million 133.6 thousand, reflecting a 9% increase compared to 2022. Exports to Slovakia in 2023 reached $42 million 998.9 thousand, an increase of 75.8% compared to 2022, while exports to Lithuania doubled to $22 million 667.7 thousand. Exports also rose to Spain, Cyprus, Hungary, the Czech Republic, Sweden, and Portugal.

However, exports from Armenia to France declined by 3.2% in 2023, totaling $9 million 522.9 thousand. While exports to Germany are not negligible at $87 million 557.6 thousand, they decreased by 17.4% compared to 2022. Export volumes to Italy and Poland also decreased compared to 2022.