Navigator
Armenia
(information)
Population as of 2020: 2.96 million 133 of 193
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Region: Eastern Europe
Nominal G.D.P. in 2024: $25.79 billion 117 of 193
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Top Exports
Total exports: **~$13.0–13.1 billion (2024)**
**Extremely concentrated economy:** precious metals (especially gold) account for **~60%+ of exports**
| Rank | Export Category | Notes |
| ---- | -------------------------------------------- | -------------------------------------------------------------- |
| 1 | **Gems & precious metals (gold, jewelry)**⭐ | ~60–62% of exports; dominant sector |
| 2 | **Electrical machinery & electronics** | ~8% (phones, components) |
| 3 | **Ores, slag & ash (copper, molybdenum)** | ~7% |
| 4 | **Tobacco & tobacco products** | ~3–4% |
| 5 | **Beverages (brandy, wine)** | ~3% |
| 6 | **Machinery & industrial equipment** | ~2% |
| 7 | **Clothing (non-knit apparel)** | ~1–2% |
| 8 | **Iron & steel** | ~1–2% |
| 9 | **Optical/medical instruments** | ~1% |
| 10 | **Knit apparel & textiles** | <1% |
Key individual export products (by value)
| Rank | Product | Notes |
| ---- | ----------------------------------------- | --------------------------------------------------- |
| 11 | **Unwrought gold** | #1 export (~40%+ alone) |
| 12 | **Jewelry (gold, diamonds)** | Major value-added export |
| 13 | **Copper ores & concentrates** | Core mining export |
| 14 | **Diamonds (cut & uncut)** | Precious stones trade |
| 15 | **Telephones & electronic equipment** | Fast-growing re-export sector |
| 16 | **Molybdenum ores & concentrates** | Strategic industrial metal |
| 17 | **Cigarettes (manufactured tobacco)** | Key processed export |
| 18 | **Brandy (Armenian cognac)** | Signature export product |
| 19 | **Aluminum & aluminum products** | Industrial export |
| 20 | **Pharmaceutical products (medicaments)** | Small but growing sector |
Key Takeaways
* 🥇 **Gold dominates overwhelmingly**
* Gold and jewelry together make up the **majority of export value (~60%+)**
* 💎 **Precious metals drive export growth**
* Export surge in 2024 was largely due to **gold re-exports and processing**
* ⛏️ **Mining remains foundational**
* Copper and molybdenum are key traditional exports
* ⚡ **Electronics and re-exports are rising**
* Phones and electrical equipment are increasingly important
* 🍷 **Niche cultural exports matter**
* Armenian **brandy and tobacco** are globally recognized
* ⚠️ **Very high concentration**
* Top 3 categories dominate the export structure
Top Importers of Armenia’s Exports (2024)
| Rank | Country | Notes |
| ---- | ------------------------ | --------------------------------------------------------------- |
| 1 | **Russia** | Largest partner (~40%+); gold, machinery, food, and re-exports. |
| 2 | **United Arab Emirates** | Gold trading hub; precious metals dominate. |
| 3 | **Switzerland** | Major gold refining and trading center. |
| 4 | **China** | Metals (copper, molybdenum) and minerals. |
| 5 | **Netherlands** | EU trade hub; electronics and re-exports. |
| 6 | **Germany** | Industrial goods and machinery. |
| 7 | **Iraq** | Regional trade; food and manufactured goods. |
| 8 | **Georgia** | Neighboring trade partner; transit and regional goods. |
| 9 | **India** | Precious metals and industrial inputs. |
| 10 | **United States** | Jewelry, diamonds, and niche exports. |
Key Patterns
* 🪙 **Gold drives trade partners**
* **UAE and Switzerland** appear because of **gold refining and global trading networks**
* 🇷🇺 **Russia dominates regionally**
* Largest market due to **economic integration and re-exports**
* ⛏️ **Mining links to Asia**
* **China and India** import copper and minerals
* 🌍 **Mix of regional + global hubs**
* Trade flows split between:
* **regional neighbors (Russia, Georgia)**
* **global commodity hubs (UAE, Switzerland)**
* **industrial economies (EU, China)**
