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19-12-2023
Armenia exported $5.31 billion worth of products around the world in 2022. in 2021, Armenia's exports amounted to $3 billion, a 79% increase year-on-year.
Armenia's Best Export Customers
The latest country-specific data shows that the main importers of Armenia's exports were purchased by importers from Russia (44.6% of Armenia's total), the United Arab Emirates (10.1%), mainland China (7%), Switzerland (4.8%), Iraq (4.7%), the Netherlands (4%), Bulgaria (3.9%), Georgia (2.9%), Iran (2.1%), Germany (2%), India (1.9%) and Belgium (1.6%).
Armenia's Top 10 Exports
1. Gems, precious metals: $989.3 million (18.6% of total exports)
2. Meat: $775.7 million (14.6%)
3. Electrical machinery, equipment: $507.1 million (9.6%)
4. Beverages, spirits, vinegar: $360.0 million (6.8%)
5. Tobacco, artificial substitutes: $344.2 million (6.5%)
6. Vehicles: $310 million (5.8%)
7. Steel: $264.6 million (5%)
8. Ore, slag, ash: $240.5 million (4.5%)
9. Machinery, including computers: $188.0 million (3.5%)
10. Aluminum: $146 million (2.8%)
Armenia's top ten exports generate more than three quarters (77.7%) of its total global export value.
Electrical machinery and equipment is the fastest growing of the top ten export categories, growing by 1,934% from 2021 to 2022. Second in terms of improvement in export sales were vehicles, led by automobiles, which grew by 795.4%. Armenia's export sales grew by 795.4 percent. The value of machinery, including computers, grew the third fastest, by 493 percent.
The only decline in Armenia's top 10 export categories was in meat, down -7.4% year-on-year.
Looking at the finer four-digit HS code, unset diamonds were Armenia's most valuable export, accounting for 7.9% of the country's total exports. In second place was unforged gold (7.8%), followed by cigarettes and cigars (6%), alcoholic beverages such as spirits and liqueurs (5.5%), telephony equipment such as smartphones (5.1%), ferroalloys (4.7%), automobiles (4.7%), molybdenum ores or concentrates (2.9%), thin aluminum foils (2.4%) and then jewelry (2.1%).
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