Armenian exports to EEU countries grow but drop to EU

Armenia exported goods worth over $8,4 billion in 2023, a 55,3% growth compared to 2022.

Exports to fellow Eurasian Economic Union (EEU) countries grew, while exports to EU countries dropped, according to the Statistical Committee.

Armenian exports to EEU countries grew 40,8% and comprised over $3,6 billion, and exports to EU countries dropped 8,2%, comprising $709,5 million.

Most of the exports went to Russia ($3,4 billion, an increase of 38,8%).

Exports to other EEU countries also grew; exports to Kyrgyzstan stood at $27,3 million (4,8 times growth), exports to Kazakhstan stood at $71,3 million (3,8 times growth), and exports to Belarus stood at $91,9 million (19,5% growth).

Despite the overall drop, exports to individual EU countries grew significantly. The Netherlands is Armenia’s 4^th top export destination (after Russia, UAE and China), with exports comprising $234,1 million (9% growth).

Armenian exports to Slovakia stood at $42,9 million (75,8% growth). Exports to Lithuania doubled and stood at $22,6 million. Exports to Spain, Cyprus, Hungary, Czechia, Sweden and Portugal also grew. However, exports to France dropped 3,2% and stood at $9,5 million. Armenian exports to Germany dropped 17,4% and comprised $87,5 million. Exports to Italy and Poland also dropped in 2023.