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NEWS » Economy » Ministry of Economy named 5 groups of commodities that have the largest share in export and import structures
Economy

Ministry of Economy named 5 groups of commodities that have the largest share in export and import structures

07.03.2025, 11:22
The Armenian Ministry of Economy has named the five main groups of commodities that make up Armenia's exports and imports in 2024, compared to 2023.
Ministry of Economy named 5 groups of commodities that have the largest share in export and import structures

YEREVAN, March 7. /ARKA/. The Armenian Ministry of Economy has named the five main groups of goods that make up Armenia's exports and imports in 2024, compared to 2023. These data are provided in the ministry's report "Socio-Economic Situation of the Republic of Armenia / January - December 2024" (Armenia: Economic Outlook / January-December 2024).

Export
According to official statistics, exports from Armenia in 2024 increased by 53.1% compared to 2023, totaling $13,092,206.2 thousand.
The Ministry of Economy's report states that the main goods making up Armenia's exports in January-December 2024 (with growth figures compared to the same period last year) were:
• Gold, unwrought or semi-wrought, or in powder form: $5,605.3 million (an increase of 3.1 times)
• Jewelry and its parts: $899.4 million (an increase of 80.3%)
• Telephone and telegraph equipment: $672.5 million (an increase of 25.6%)
• Copper ore, concentrate: $558.3 million (an increase of 15.6%)
• Silver, unwrought or semi-wrought, powder: $552.7 million (a 12.8-fold increase)

"In January-December 2024, these five products together accounted for 63.3% of total exports, with unprocessed gold or semi-finished products alone accounting for 42.8% of total exports," the report noted.

The main trading partners-importers in 2024 were:

  • UAE: $5,254.9 million (an increase of 2.4 times)
  • Russia: $3,162.0 million (a decrease of 10.7%)
  • Hong Kong: $1,756.5 million (an increase of 2.6 times)
  • China: $1,097.5 million (an increase of 2.6 times)

Together, these four countries accounted for 86.1% of Armenia's export partners.

Import
According to Armstat, the volume of imports to Armenia in 2024 amounted to $17,066,882.3 thousand, marking an increase of 33.8% compared to 2023.
The Ministry of Economy's report lists the main goods imported to Armenia in January-December 2024 (data are relative to the same period in 2023):
• Unprocessed gold or semi-manufactured or in powder form: $5,943.3 million (an increase of 3.3 times)
• Telephone and telegraph equipment: $827.0 million (an increase of 15.7%)
• Natural and liquefied gas: $556.3 million (an increase of 7.3%)
• Passenger cars: $520.1 million (a decrease of 2.5 times)
• Diamonds: $500.9 million (an increase of 6.4%)

"In January-December 2024, these five products together accounted for 48.9% of total imports, with unprocessed gold or semi-manufactured gold alone accounting for 34.8% of total imports," the study said.

The main trading partners-exporters in 2024 were:

  • Russia: $9,434.1 million (an increase of 2.1 times)
  • China: $1,181.9 million (an increase of 24.2%)
  • Georgia: $785.7 million (a decrease of 16.8%)
  • Iran: $639.7 million (an increase of 4.5%)

Together, these four countries accounted for 70.6% of Armenia's import partners.

#ECONOMY
#IMPORT
#EXPORT
#GOLD
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