BALANCE OF PAYMENTS AND FOREIGN TRADE

Data source: Central Bank of Armenia and International Trade Center
Calculations and data processing: Economic Development and Research Center (EDRC)
Data were updated on October 24, 2025.

Note: According to the revisions implemented in the Balance of Payments of RA since 2004, the comparability with some indicators for the previous years decreased.

Figure 1. Foreign trade of Armenia, USD mln

Exports

Imports

Total

Table 1. Balance of Payments, USD mln

19952000200520082009201020112012201320142015201620172018201920202021202220232024
CURRENT ACCOUNT-220.7 -301.7 -123.9 -1,658.9 -1,425.5 -1,261.4 -1,058.9 -1,057.9 -811.5 -899.8 -280.9 -100.9 -145.3 -900.5 -961.1 -505.4 -471.4 144.0 -670.0 -1,194.5
Current Account (excluding current transfers)-239.0 -387.2 -519.6 -2,370.5 -1,943.6 -1,793.4 -1,661.6 -1,700.7 -1,546.0 -1,567.9 -719.9 -516.1 -652.6 -1,401.0 -1,478.8 -1,291.1 -1,437.5 -658.9 -1,192.9 -1,627.1
Goods and Services-445.6 -531.8 -782.6 -3,127.5 -2,366.3 -2,326.5 -2,175.6 -2,214.0 -2,319.6 -2,166.9 -1,281.5 -905.8 -1,243.6 -1,752.7 -1,817.1 -1,257.7 -1,115.2 -99.9 -343.5 -731.7
Exports of goods and services 303.6 454.2 1,458.8 1,943.6 1,559.3 2,210.7 2,742.2 2,917.4 3,157.4 3,320.4 3,137.7 3,564.5 4,410.4 4,927.0 5,765.4 3,802.0 4,978.7 10,339.5 14,718.1 19,072.0
Imports of goods and services 749.3 986.0 2,241.4 5,071.1 3,925.6 4,537.2 4,917.8 5,131.4 5,477.0 5,487.3 4,419.2 4,470.4 5,654.0 6,679.8 7,582.5 5,059.7 6,094.0 10,439.4 15,061.5 19,803.7
Goods-399.0 -466.9 -634.7 -2,816.3 -2,090.0 -2,065.7 -2,109.8 -2,111.9 -2,196.2 -2,055.4 -1,186.4 -976.9 -1,405.2 -1,763.4 -1,722.1 -1,382.2 -1,504.8 -1,802.8 -2,427.9 -2,195.0
Exports of goods 275.0 313.8 1,028.7 1,106.3 773.6 1,197.5 1,431.6 1,515.7 1,635.9 1,698.2 1,623.9 1,892.0 2,387.6 2,724.7 3,306.3 2,663.8 3,215.5 5,911.9 8,866.5 13,216.9
Imports of goods 674.1 780.7 1,663.4 3,922.6 2,863.6 3,263.2 3,541.4 3,627.6 3,832.0 3,753.6 2,810.3 2,868.9 3,792.8 4,488.1 5,028.5 4,045.9 4,720.2 7,714.7 11,294.4 15,411.9
Services-46.6 -64.8 -147.9 -311.2 -276.3 -260.8 -65.8 -102.1 -123.5 -111.5 -95.1 71.0 161.7 10.7 -95.0 124.5 389.5 1,702.9 2,084.4 1,463.3
Exports of services 28.6 140.4 430.1 837.3 785.7 1,013.2 1,310.6 1,401.7 1,521.5 1,622.2 1,513.8 1,672.5 2,022.8 2,202.3 2,459.1 1,138.3 1,763.3 4,427.6 5,851.6 5,855.1
Imports of ervices 75.2 205.3 578.1 1,148.5 1,062.0 1,274.0 1,376.4 1,503.8 1,645.0 1,733.7 1,608.9 1,601.5 1,861.1 2,191.6 2,554.1 1,013.8 1,373.8 2,724.7 3,767.1 4,391.8
Income 39.5 59.0 206.0 691.3 358.8 458.3 360.1 423.0 682.5 522.2 428.4 245.1 405.6 200.3 187.9 -202.7 -399.0 -488.6 -626.2 -911.7
Current transfers 18.4 85.5 395.7 711.6 518.1 532.0 602.7 642.8 734.4 668.1 439.0 415.3 507.2 500.5 517.7 785.7 966.1 802.9 522.9 432.6
CAPITAL ACCOUNT 8.1 13.0 84.0 171.4 87.9 98.9 94.6 108.4 84.4 70.4 65.3 34.9 46.3 67.6 54.5 45.4 51.8 70.5 - -
FINANCIAL ACCOUNT-199.2 -215.9 -202.9 -1,499.9 -1,442.4 -1,275.8 -1,030.7 -749.5 -1,041.2 -837.4 -345.9 -415.8 -530.2 -689.8 -463.0 -691.0 -368.9 276.8 -357.3 -644.9
Net errors and omissions 13.4 72.8 -163.0 -12.4 -104.8 -113.2 -66.5 200.0 -314.0 -8.1 -130.2 -349.8 -440.7 135.7 431.8 -365.1 39.0 56.2 252.3 531.4

Table 2. Balance of Payments, % of GDP

19952000200520082009201020112012201320142015201620172018201920202021202220232024
CURRENT ACCOUNT-17.1 -15.8 -2.5 -14.2 -16.5 -13.6 -10.4 -10.0 -7.3 -7.8 -2.7 -1.0 -1.3 -7.2 -7.1 -4.0 -3.4 0.7 -2.8 -4.6
Current Account (excluding current transfers)-18.6 -20.3 -10.6 -20.3 -22.5 -19.4 -16.4 -16.0 -13.9 -13.5 -6.8 -4.9 -5.7 -11.2 -10.9 -10.2 -10.4 -3.4 -4.9 -6.3
Goods and Services-34.6 -27.8 -16.0 -26.8 -27.4 -25.1 -21.5 -20.8 -20.9 -18.7 -12.1 -8.6 -10.8 -14.1 -13.3 -9.9 -8.0 -0.5 -1.4 -2.8
Exports of goods and services 23.6 23.8 29.8 16.7 18.0 23.9 27.0 27.5 28.4 28.6 29.7 33.8 38.3 39.5 42.3 30.1 35.9 53.0 60.9 73.5
Imports of goods and services 58.2 51.6 45.7 43.5 45.4 49.0 48.5 48.3 49.2 47.3 41.9 42.4 49.0 53.6 55.7 40.0 43.9 53.5 62.3 76.3
Goods-31.0 -24.4 -13.0 -24.1 -24.2 -22.3 -20.8 -19.9 -19.7 -17.7 -11.2 -9.3 -12.2 -14.2 -12.6 -10.9 -10.8 -9.2 -10.0 -8.5
Exports of goods 21.4 16.4 21.0 9.5 8.9 12.9 14.1 14.3 14.7 14.6 15.4 17.9 20.7 21.9 24.3 21.1 23.2 30.3 36.7 50.9
Imports of goods 52.4 40.8 33.9 33.6 33.1 35.2 34.9 34.2 34.5 32.3 26.6 27.2 32.9 36.0 36.9 32.0 34.0 39.5 46.7 59.4
Services-3.6 -3.4 -3.0 -2.7 -3.2 -2.8 -0.6 -1.0 -1.1 -1.0 -0.9 0.7 1.4 0.1 -0.7 1.0 2.8 8.7 8.6 5.6
Exports of services 2.2 7.3 8.8 7.2 9.1 10.9 12.9 13.2 13.7 14.0 14.3 15.9 17.5 17.7 18.1 9.0 12.7 22.7 24.2 22.6
Imports of ervices 5.8 10.7 11.8 9.8 12.3 13.8 13.6 14.2 14.8 14.9 15.2 15.2 16.1 17.6 18.8 8.0 9.9 14.0 15.6 16.9
Income 3.1 3.1 4.2 5.9 4.1 4.9 3.6 4.0 6.1 4.5 4.1 2.3 3.5 1.6 1.4 -1.6 -2.9 -2.5 -2.6 -3.5
Current transfers 1.4 4.5 8.1 6.1 6.0 5.7 5.9 6.1 6.6 5.8 4.2 3.9 4.4 4.0 3.8 6.2 7.0 4.1 2.2 1.7
CAPITAL ACCOUNT 0.6 0.7 1.7 1.5 1.0 1.1 0.9 1.0 0.8 0.6 0.6 0.3 0.4 0.5 0.4 0.4 0.4 0.4 - -
FINANCIAL ACCOUNT-15.5 -11.3 -4.1 -12.9 -16.7 -13.8 -10.2 -7.1 -9.4 -7.2 -3.3 -3.9 -4.6 -5.5 -3.4 -5.5 -2.7 1.4 -1.5 -2.5
Net errors and omissions 1.0 3.8 -3.3 -0.1 -1.2 -1.2 -0.7 1.9 -2.8 -0.1 -1.2 -3.3 -3.8 1.1 3.2 -2.9 0.3 0.3 1.0 2.0

Table 3. Armenian imports from the largest partner countries, USD mln

Country2005201020112012201320142015201620172018201920202021202220232024
Russian Federation 250.6 828.3 885.4 1,052.4 1,104.5 1,069.3 991.1 990.6 1,165.6 1,259.1 1,483.2 1,477.1 1,785.0 2,622.3 3,881.0 9,238.9
China 26.1 402.1 402.5 397.1 383.5 414.4 315.5 363.5 465.8 660.8 747.8 672.0 861.8 1,328.7 1,627.9 1,669.2
Viet Nam 0.8 9.9 10.2 16.9 14.5 19.9 14.8 24.3 34.7 46.3 58.3 33.4 36.5 175.7 815.2 881.1
Iran, Islamic Republic of 101.0 217.7 217.0 219.5 187.6 206.4 198.3 164.9 174.5 269.2 324.8 316.7 437.6 599.0 597.2 628.5
Germany 98.9 155.9 162.4 168.9 175.9 175.7 182.1 160.4 164.3 242.2 253.8 238.3 209.0 400.6 482.4 373.8
Italy 44.6 121.1 167.8 166.6 162.9 178.8 148.1 127.4 124.3 181.8 203.7 190.8 223.9 278.0 349.8 349.7
Türkiye 53.1 210.5 240.4 213.1 210.2 230.9 136.5 169.0 221.6 250.7 265.4 230.3 72.7 262.1 335.8 334.3
United States of America 103.2 101.5 133.0 129.9 118.8 112.7 105.1 79.1 113.7 135.7 129.6 80.8 106.9 355.9 550.0 273.2
Area Nes 2.7 141.4 135.0 189.6 8.5 27.1 16.9 21.0 19.1 49.0 49.6 90.4 128.1 130.4 - 239.2
India 10.7 45.9 68.7 69.5 67.4 63.4 52.3 69.4 45.3 77.7 128.2 85.2 89.3 259.0 349.2 232.8
Egypt 0.1 8.8 6.4 5.2 5.2 6.7 8.2 7.7 4.4 6.0 5.8 4.1 14.1 24.6 26.7 183.8
Georgia 39.3 49.7 59.4 48.5 65.3 71.2 66.7 95.0 87.3 69.7 78.3 72.4 121.4 144.3 122.3 162.2
France 38.4 76.4 81.3 66.2 62.6 78.7 64.9 52.5 72.2 109.7 82.9 82.3 83.5 112.2 165.8 147.7
Japan 2.6 55.6 40.9 63.5 45.9 43.8 45.6 32.4 44.6 59.6 95.3 43.9 53.7 192.8 332.3 108.4
Korea, Republic of 4.0 71.5 53.9 46.5 50.3 37.6 31.9 16.7 19.4 27.2 31.8 42.4 46.7 94.3 146.0 97.5
Belarus 11.5 31.9 29.5 33.6 40.8 31.0 33.8 23.2 37.6 38.6 49.8 58.6 57.9 110.6 89.7 90.6
Brazil 2.7 51.3 83.3 93.1 87.3 91.4 61.4 48.9 62.6 61.7 67.5 54.9 54.9 84.0 66.4 87.3
United Kingdom 91.1 34.6 39.9 36.5 44.6 49.3 26.1 28.0 33.6 38.3 70.9 29.2 33.6 75.7 92.1 85.6
Ukraine 67.2 229.5 232.1 215.9 226.3 201.8 124.6 98.9 115.4 153.6 146.1 123.7 143.1 83.8 77.7 82.2
United Arab Emirates 85.4 36.3 49.1 47.8 67.4 67.5 43.6 57.8 85.9 107.8 50.3 19.6 37.2 58.7 73.3 82.0
Total selected countries 1,034.2 2,879.9 3,098.3 3,280.2 3,129.4 3,177.5 2,667.6 2,630.6 3,092.0 3,844.5 4,323.1 3,946.1 4,596.8 7,392.6 10,180.8 15,347.9
Total imports 1,691.5 3,781.8 4,109.3 4,266.9 4,256.2 4,159.5 3,257.0 3,218.5 3,893.5 4,809.6 5,062.8 4,547.3 5,324.8 8,635.5 12,021.7 16,807.8

Table 4. Armenian exports to the largest partner countries, USD mln

Country2005201020112012201320142015201620172018201920202021202220232024
United Arab Emirates 10.2 8.0 9.7 9.2 9.4 12.0 11.1 68.8 92.4 73.4 57.1 95.6 73.8 533.5 2,223.6 5,254.7
Russian Federation 115.8 159.9 220.9 277.9 331.9 304.6 225.9 373.0 540.5 641.9 718.5 659.1 793.9 2,365.2 3,383.9 3,116.0
Hong Kong, China 0.2 0.3 3.1 1.4 0.7 1.0 5.2 57.6 0.9 5.8 4.2 5.3 9.9 25.6 668.4 1,756.5
China 9.2 30.9 16.3 31.0 68.8 171.0 165.2 99.7 118.5 107.2 193.7 289.7 393.2 369.5 425.3 1,097.5
Iraq 0.0 0.4 4.9 15.7 47.7 80.6 130.7 140.5 117.2 150.6 177.3 163.8 177.3 249.7 180.6 246.1
Georgia 34.1 48.2 55.0 78.0 75.2 65.9 114.0 141.2 144.9 65.7 65.5 56.1 66.7 151.6 133.5 155.4
Netherlands 130.1 98.6 117.2 79.7 66.4 74.2 47.3 55.5 88.4 132.4 153.8 97.7 191.2 214.8 234.1 134.0
Belgium 124.5 72.5 70.5 127.2 131.1 62.4 47.5 41.3 37.9 49.2 44.4 36.6 51.9 85.7 94.5 120.2
Belarus 2.5 4.6 5.8 6.5 8.6 9.0 5.5 13.1 6.9 11.7 17.7 21.2 28.2 74.6 91.7 114.9
Switzerland 34.6 16.9 33.7 71.4 24.7 14.0 40.8 95.0 246.5 337.4 457.8 453.9 359.5 254.6 83.3 111.6
Iran, Islamic Republic of 24.9 39.6 94.3 94.2 85.9 83.7 77.9 69.6 84.0 94.2 83.8 84.5 65.4 111.1 94.5 108.2
Thailand 0.8 2.8 3.6 3.0 2.7 22.4 1.2 2.6 8.2 0.8 0.9 0.8 0.1 1.3 10.2 82.2
Bulgaria 0.8 156.5 152.2 129.3 152.2 85.6 78.9 163.4 281.7 214.9 207.4 150.8 198.4 208.4 97.4 79.6
Italy 25.4 4.8 4.6 7.7 23.1 34.5 49.0 31.5 36.1 49.9 59.7 41.0 63.5 65.1 64.0 67.1
Germany 146.7 132.6 157.8 153.0 85.5 158.5 145.0 135.1 126.9 136.0 69.5 56.3 77.5 105.9 87.5 63.4
United States of America 61.6 82.3 100.4 87.3 88.4 87.1 54.0 39.2 59.2 47.0 53.4 67.4 80.8 77.4 47.7 58.3
Kazakhstan 2.5 2.8 4.4 4.0 7.3 6.9 4.9 5.3 4.9 9.8 5.4 6.6 11.0 18.4 71.2 54.1
Slovakia 0.0 0.2 0.0 0.2 0.0 0.0 0.0 0.2 0.1 0.4 0.4 8.3 14.3 24.5 42.9 50.8
India 0.4 5.5 3.0 1.5 0.2 0.2 0.4 1.4 3.3 0.6 3.5 73.4 126.7 99.4 34.6 36.4
Area Nes 1.4 31.3 31.5 32.1 16.5 18.2 8.3 21.0 14.3 18.7 12.8 4.0 14.5 15.3 - 26.8
Total selected countries 725.9 898.7 1,088.9 1,210.2 1,226.2 1,291.9 1,212.8 1,555.2 2,013.0 2,147.3 2,386.8 2,372.1 2,797.7 5,051.7 8,069.0 12,733.8
Total exports 937.0 1,011.4 1,320.4 1,428.1 1,467.8 1,490.2 1,482.7 1,807.8 2,145.0 2,383.4 2,618.6 2,512.5 2,964.8 5,307.0 8,371.2 13,028.1

Table 5. Largest import item groups, USD mln

CodeProduct2005201020112012201320142015201620172018201920202021202220232024
7108Gold 74.3 60.1 78.4 74.0 168.6 145.1 23.3 21.5 56.6 87.6 114.5 24.2 90.0 233.8 1,370.8 5,943.3
8517Telephone (mobile) devices and other transmitting devices 15.8 81.4 79.1 69.4 48.9 59.2 46.1 92.9 89.4 133.1 150.0 103.9 82.5 380.6 714.3 826.8
2711Natural and liquid gas 96.9 339.5 411.7 520.3 575.6 467.3 432.9 348.0 358.3 375.8 432.1 445.1 490.1 541.6 513.5 556.3
7102Diamonds 270.8 93.9 126.7 96.8 116.4 148.3 87.4 125.7 124.5 172.3 149.5 92.5 123.3 390.0 560.8 500.9
2710Oil and oil products 155.5 304.1 370.9 360.5 341.6 321.2 217.4 198.3 242.6 278.2 297.2 240.1 372.5 574.4 498.2 469.7
7110Platinum 0.0 0.0 0.0 - - 0.0 0.2 0.0 - - 0.0 - 0.0 1.0 186.5 420.7
7106Silver 0.4 0.1 0.2 0.2 1.0 1.4 0.4 0.5 0.5 1.0 0.7 0.3 1.3 2.7 37.1 390.7
8703Motor cars 37.6 59.2 76.7 60.3 61.6 60.8 87.9 41.3 49.0 89.8 125.6 60.6 104.6 599.5 1,069.3 296.8
8528Monitors and projectors 6.2 21.4 21.4 17.8 15.7 17.5 14.7 22.0 21.2 31.6 32.5 20.5 28.9 126.2 252.9 251.6
8471Computers and parts thereof 14.5 47.1 38.4 42.2 39.1 38.1 24.3 26.6 27.4 54.2 36.4 44.9 56.4 170.7 183.9 216.7
3004Medicine (weighted and packed) 42.9 80.2 91.5 94.6 109.6 101.0 93.9 88.4 163.9 132.8 181.0 132.1 136.6 150.7 158.2 165.6
7214Bars and rods, of iron or non-alloy steel, not further worked 15.8 47.0 36.6 29.0 31.6 24.2 12.4 11.4 20.2 26.7 23.2 27.5 28.6 77.3 89.3 101.2
8704Motor vehicles for the transport of goods 25.0 34.7 42.6 59.9 28.6 23.5 21.8 19.6 48.6 31.3 45.8 26.7 25.3 54.3 91.0 97.3
8429Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators 1.6 23.7 30.6 44.8 22.4 20.0 13.4 16.5 45.1 45.6 27.0 33.4 39.3 81.8 102.4 82.5
1806Chocolate and other cocoa containing food 12.4 35.9 38.3 39.7 42.4 38.6 37.6 37.3 40.2 43.2 43.2 37.4 47.7 62.9 63.9 82.2
Total for selected 769.8 1,228.3 1,443.0 1,509.4 1,603.3 1,466.4 1,113.6 1,050.0 1,287.5 1,503.2 1,658.8 1,289.2 1,627.3 3,447.4 5,892.2 10,402.1
Total imports 1,691.5 3,781.8 4,109.3 4,266.9 4,256.2 4,159.5 3,257.0 3,218.5 3,893.5 4,809.6 5,062.8 4,547.3 5,324.8 8,635.5 12,021.7 16,807.8

Table 6. Largest export item groups, USD mln

CodeProduct2005201020112012201320142015201620172018201920202021202220232024
7108Gold 36.5 28.6 67.3 77.5 73.6 81.9 98.9 140.9 145.0 176.9 223.9 255.8 133.8 414.2 1,810.6 5,605.3
7113Articles of jewellery & parts 34.0 13.2 12.2 13.2 21.3 21.5 18.1 19.1 26.9 40.2 42.6 28.3 75.1 109.1 495.5 899.4
8517Telephone (mobile) devices and other transmitting devices 1.9 2.5 2.7 4.3 0.9 2.6 0.9 1.5 1.4 2.3 2.2 2.4 2.4 271.1 534.7 672.5
2603Copper ores and concentrates 16.6 210.6 260.6 227.6 279.9 235.9 316.6 370.1 571.5 525.5 626.7 604.4 769.3 662.9 483.1 558.3
7106Silver 0.2 - - - - - 0.0 - - - 0.0 0.0 - 1.1 43.1 552.7
7102Diamonds 263.0 90.3 113.7 79.1 88.1 118.0 77.3 106.3 72.8 77.2 54.1 71.3 105.6 417.7 589.1 485.6
7110Platinum 0.0 - - - - - - - - - - - 0.1 0.1 192.1 439.6
2402Cigars, cigarillos, cigarettes 3.2 8.2 16.3 41.8 68.0 115.9 170.5 211.5 237.3 266.2 273.0 241.4 239.1 320.2 354.8 403.3
2208Ethyl spirit, spirit tincture, liqueur and other alcoholic drinks 79.9 95.7 131.2 164.8 186.2 163.7 92.5 150.9 207.5 198.3 253.1 202.6 246.3 291.5 310.2 320.1
8528Monitors and projectors 0.0 0.1 0.0 0.0 0.0 0.2 0.0 0.1 0.0 0.0 0.0 0.1 0.0 92.0 250.8 266.3
2613Molybdenum ores and concentrates 27.5 3.8 11.1 8.3 6.7 8.7 6.2 0.9 8.6 7.6 17.9 103.7 122.3 155.1 231.4 220.6
7202Ferro-alloys 235.3 119.6 121.3 106.8 102.4 109.7 55.5 66.0 84.4 125.9 142.4 99.2 188.7 252.1 281.0 184.7
2616Precious-metal ores and concentrates - 0.5 0.2 24.9 - 32.7 31.6 31.4 2.0 3.3 3.1 12.4 15.5 85.4 75.9 126.5
2716Electricity 17.9 26.2 87.5 95.2 78.0 81.3 77.5 57.1 71.0 80.0 65.6 69.4 50.9 88.8 70.3 85.3
8471Computers and parts thereof 0.1 0.2 0.4 9.4 0.5 0.7 0.5 0.5 0.8 3.7 2.9 3.2 2.4 76.6 101.0 79.3
Total for selected 716.1 599.5 824.5 853.0 905.5 972.8 946.2 1,156.3 1,429.2 1,507.2 1,707.6 1,694.2 1,951.4 3,238.0 5,823.5 10,899.5
Total exports 937.0 1,011.4 1,320.4 1,428.1 1,467.8 1,490.2 1,482.7 1,807.8 2,145.0 2,383.4 2,618.6 2,512.5 2,964.8 5,307.0 8,371.2 13,028.1