The following export product groups represent the highest dollar value in Armenian global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Armenia. Copper ores and concentrates are Armenia’s number one export.

1. Ores, slag, ash: US$400.5 million (22.6% of total exports)
2. Gems, precious metals: $336.8 million (19%)
3. Tobacco, manufactured substitutes: $210.6 million (11.9%)
4. Beverages, spirits, vinegar: $176.9 million (10%)
5. Aluminum: $84.9 million (4.8%)
6. Clothing, accessories (not knit or crochet): $74 million (4.2%)
7. Copper: $65.4 million (3.7%)
8. Mineral fuels including oil: $65.4 million (3.7%)
9. Iron, steel: $60.9 million (3.4%)
10. Vegetables: $28 million (1.6%)

Vegetables were the fastest-growing among Armenia’s top 10 export categories, up by 5,589% for the 7-year period starting in 2009. Leading the robust international sales growth were exported tomatoes.

In second place for improving export sales was tobacco and manufactured substitutes up by 2,354%.

Unknit and non-crocheted clothing and accessories posted the third-fastest gain in value up by 1,278%.

Accelerating 947%, mineral fuels-related exports including oil also generated an impressive uptick led by improved revenues for electrical energy and petroleum gases.

The only declining category among the top 10 Armenian exports was iron and steel which was down by -34.8%.

The following types of Armenian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Ores, slag, ash: US$400.1 million (Up by 248.2% since 2009)
2. Gems, precious metals: $175.4 million (Down by -6,613%)
3. Beverages, spirits, vinegar: $115.7 million (Up by 203.3%)
4. Tobacco, manufactured substitutes: $109.2 million (Down by -291.5%)
5. Copper: $62.5 million (Down by -0.5%)
6. Vegetables: $19 million (Down by -357.6%)
7. Clothing, accessories (not knit or crochet): $16.1 million (Down by -164.6%)
8. Clocks , watches including parts: $14.3 million (Up by 6,102%)
9. Aluminum: $13.5 million (Down by -122.8%)
10. Fish: $7.6 million (Down by -651.3%)

Armenia has highly positive net exports in the international trade of copper and, to a lesser extent, precious-metal and zinc ores and concentrates. In turn, these cashflows indicate Armenia’s strong competitive advantages under the ores, slag and ash product category.

Overall, Armenia incurred a -$1.5 billion trade deficit for 2016.
Below are exports from Armenia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Armenia’s goods trail Armenian importer spending on foreign products.

1. Mineral fuels including oil: -US$510.8 million (Up by 5.3% since 2009)
2. Machinery including computers: -$242 million (Down by -26.8%)
3. Electrical machinery, equipment: -$206.7 million (Down by -26.6%)
4. Pharmaceuticals: -$101.7 million (Up by 15.1%)
5. Vehicles : -$91.2 million (Down by -2.5%)
6. Plastics, plastic articles: -$82.1 million (Down by -12.8%)
7. Cereals: -$71.2 million (Down by -34.9%)
8. Articles of iron or steel: -$61.5 million (Down by -51.2%)
9. Paper, paper items: -$59.1 million (Up by 0.3%)
10. Optical, technical, medical apparatus: -$48.7 million (Up by 5.3%)

Armenia has highly negative net exports and therefore deep international trade deficits for petroleum gases and refined oils under the mineral fuels including oil category.

Armenian Export Companies

Not one Armenian corporation ranks among Forbes Global 2000 for 2016.

Wikipedia lists export-related companies from Armenia. Selected examples are shown below:

• Ararat Cement (construction materials)
• Avshar Wine Factory (winery)
• Jermuk Mineral Water Factory (mineral water)
• Kotayk Brewery (alcoholic beverages)
• Multi Group Stone (stone works)
• Ucom (telecommunications)
• Yerevan Brandy Company (alcoholic beverages)
• Yerevan Computer Research and Development Institute (technology)
• Yerevan Confectionery and Macaroni Factory (food)
• Zangezur Copper and Molybdenum (metals)