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Statistics

Foreign Trade Structure of Armenia

Today, Armenia has a liberal external trade regime with no taxes on exports and with a simple two-band import tariff (at 0% or 10%). There is not any quantitative trade restriction. Import, export, and domestic production licenses are required only if they could be dangerous for health, security, and environment. There are no limits on hard currency imports or exports.

On December 10, 2002 Armenia joined the WTO and the new Customs Code (in force since January 1, 2001) streamlines customs procedures and complies with WTO Rules. At the same time, Armenia uses the Harmonized Code System for tariff classification.

As a result, the foreign trade turnover of Armenia is growing from year to year started from 1999. Last year, the growth rate of exports decreased because of deprecation of USD and appreciation of Armenian currency.

Exports and Imports Growth Rates from 2007-2012 by %

2007 2008 2009 2010 2011 2012
Exports 20% -5.9% -35.2% 47.9% 29.2% 7.0%
Imports 45% 34.4% 22.6% 19.1% 5.2% 2.9%

Exports and Imports from 2007-2012 by US$

2007 2008 2009 2010 2011 2012
Exports 1.2bln 1.1bln 710mln 1bln 1.3bln 1.4bln
Imports 3.2bln 4.4bln 3.3bln 3.7bln 4.1bln 4.2bln
Trade Deficit (2bln) (3.3bln) (2.6bln) (2.7bln) (2.8bln) (2.8bln)

The major exporting products of Armenia are Precious and Semi-Precious Stones, Non-Precious Metal, Mineral Products, Foodstuffs, Sewing Products, Equipment and Machinery. The major importing products are more or less the same: Precious and Semi-Precious Stones, Non-Precious Metal, Mineral Products, Foodstuffs, Sewing Products, Equipment, Vehicles and Machinery.

The major exporting countries are Belgium, Bulgaria, Germany, Islamic Republic of Iran, The Netherlands, Russia and USA. The imports of Armenia come mainly from China, Georgia, Germany, Russia, Switzerland and UAE.

 

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