YEREVAN (Realist English). Armenia’s foreign trade turnover dropped by a staggering 52.9% in the first four months of 2025 compared to the same period last year, falling to $6.28 billion, according to official figures released by the National Statistical Committee.
In April alone, trade fell by 50.1% year-on-year to $1.76 billion, though that figure marked a modest 4.5% increase over March, suggesting a temporary stabilization.
Exports saw the steepest drop — down 60.4% to $2.42 billion — driven by sharp declines in key markets: Russia (–6.8%), United Arab Emirates (–75.2%), and China (–73.4%). Sectors hardest hit included precious metals (–81.2%) and machinery and equipment (–5%).
Only a few export directions posted gains: Iraq (+93.7%), Switzerland (+40.9%), and the Netherlands (+28.5%).
Imports fell 46.5% to $3.86 billion, with the largest contractions coming from Russia (–72.7%) and the UAE (–20.1%). However, imports from China surged 60.2%, Iran +14.1%, and Italy +19.1%. Notably, there was an increase in imports of vehicles (+41%) and food products (+31.4%).
Trade with Eurasian Economic Union (EAEU) partners saw the sharpest collapse: –61.5% overall, including –62.5% with Russia alone. In contrast, trade volumes with the European Union rose modestly by 4.8%, with standout gains from France (+53.7%) and the Netherlands (+30.7%).
The collapse of Armenia’s foreign trade reflects a structural cooling of the economy, overdependence on a narrow circle of partners, and vulnerability to geopolitical and logistical shocks. Without a strategic reboot — including export diversification, industrial processing, and supply chain localization — Armenia risks losing ground even in its traditional sectors. What was once a growth issue is now a matter of national economic survival.
