Trade between Russia and Armenia

2024

Growth of trade between Russia and Armenia to $12 billion

Trade between Russia and Armenia in 2024 reached $12 billion, which was a record figure for the entire period of trade and economic cooperation between the two countries. This was announced on February 8, 2025 by the Russian Ambassador to Armenia Sergei Kopyrkin.

The growth of trade between the two countries was the result of the active development of economic cooperation within the framework of the Eurasian Economic Union (EAEU). According to Kopyrkin, the potential of Eurasian integration continues to be revealed, which contributes to the involvement of new partner states in general trade.

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Фото: Unsplash

Russian companies are actively investing in the real sector of the Armenian economy, including infrastructure, mining and high-tech production. These investments are aimed at creating new jobs and a long-term contribution to the country's GDP increase. Companies with Russian capital are among the largest taxpayers in Armenia and implement social and humanitarian projects.

Earlier, Russian Deputy Prime Minister Alexei Overchuk noted that the trade turnover of Armenia with the EAEU in January-November 2024 amounted to about 12 billion, of which 12 billion, of which 11.6 billion fell on trade with Russia. According to him, the volume of trade between Armenia and the European Union is significantly inferior to the indicators of cooperation with the EAEU.

Overchuk stressed that Armenia is aware of the hypothetical nature of joining the EU and does not want to lose economic advantages from participating in the EAEU. Armenia is one of the main beneficiaries of cooperation within the union, which is confirmed by the stable growth of trade with Russia.

The record volume of trade between Russia and Armenia in 2024 indicates a strengthening of economic ties between the two countries. This became possible thanks to the implementation of joint projects and active cooperation within the framework of Eurasian integration.^[1]

Trade with Russia in the first half of the year reached $8.3 billion

In the first half of 2024, trade and Russia Armenia grew two and a half times, exceeding 8.3 billion. dollars

2023: EU and China imports redirected to Russia, with trade reaching $7.4 billion

Trade turnover reached $7.4 billion last year.

2022

Armenia became the fourth largest exporter of chips for the Russian defense industry

On July 28, 2023, it became known that Armenia it became the fourth largest exporter of semiconductor products for the defense industry. Russia

After the start of a special military operation in Ukraine, the supply of chips to Russia from Armenia increased sharply

According to Bloomberg, in the formed geopolitical situation, Armenia has become one of the centers for the re-export of semiconductors and other dual-use goods to the Russian Federation, bypassing American and European sanctions. In April 2023, US Deputy Treasury Secretary Wally Adeyemo visited Armenia to convince its government to take tough measures on the supply of sanctioned goods to Russia. Since then, the authorities of this country have tightened export rules and introduced new control over the shipment of products to the Russian Federation. It is emphasized that the regulators of Armenia are not aware of attempts to export this or that military products to any country without proper permission.

Armenia becomes the world's fourth largest exporter of semiconductor products

Armenian Finance Minister Vahe Hovhannisyan said that exports of products from the republic to Russia in 2022 increased by 187% compared to the previous year. According to the Statistical Committee of Armenia, in 2022, the republic's foreign trade turnover reached $14.129 billion, which is 1.7 times more than in 2021. At the same time, exports increased 1.8 times - to $5.36 billion, and imports increased 1.6 times, reaching $8.77 billion.

While Armenia has a prosperous technological sector, the country has not established the production of semiconductors and complex equipment. The fact that chips are supplied to the Russian Federation in the current geopolitical situation, according to the British group Conflict Armament Research (CAR), "demonstrates the problems faced by export control authorities and industry when monitoring complex and opaque supply chains."^[2]

Cognac exports from Armenia to Russia continue to grow

In 2022, 54.2 million liters of cognac were delivered from Armenia to Russia, which is 12.8% more than a year earlier. In comparison with 2018, the export of these alcoholic beverages increased by 85.2%, analysts at BusinesStat calculated. Their data was released in May 2023. Read more here.

Growth in trade turnover with Russia to $5 billion

The volume of foreign trade turnover between Russia and Armenia in 2022 for the first time exceeded $5 billion (in 2021 - $2.6 billion) - CCI of the Russian Federation.

The trade turnover between Russia Armenia and Armenia for 9 months of 2022 grew by almost 80% of the city and amounted to 3.2 billion. dollars

The growth of exports to Russia of grape wine doubled to 280 thousand decaliters, fruit wines by 53% to 520 thousand decaliters

According to the results of 10 months of 2022, the volume of supplies of Armenian grape wines in the Russian Federation amounted to 280,000 decaliters, which is 2 times more than in the same period of 2021. During the specified period, the volume of fruit wine supplies from Armenia increased by 53% and reached the volume of 520,000 decaliters.

According to the results of the first half of 2022, against the background of the conflict in Ukraine, the export of grape wine from Armenia to Russia increased by 30% compared to the same period in 2021. The volume of exports from Armenia to Russia of grape wines is about 1.7 million liters, fruit wines - 4.2 million liters.

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