That dollar amount results from a 180.8% acceleration from $2.96 billion earned 5 years earlier in 2021.
Year over year, the total value of Armenian exports decelerated by -36.1% compared to $13 billion during 2024.
Based on the average exchange rate for 2025, Armenia’s legal currency is the Armenian dram. The dram depreciated by -30.3% against the US dollar since 2021 and slowed by -1.5% from 2024 to 2025. The weaker Armenian currency made Armenian exports paid for in stronger US dollars relatively more expensive for international buyers starting from American currency.
Best Armenian Exports Customers
The latest available country-specific data shows that 90.2% of products exported from Armenia was bought by importers in: Russia (34.9% of the Armenian total), United Arab Emirates (24.7%), mainland China (9.2%), Hong Kong (6.4%), Iraq (4%), Belarus (2%), Switzerland (1.9%), Netherlands (1.7%), Belgium (1.6%), Georgia (1.5%), Germany (1.4%) and Iran (1.1%).
From a continental perspective, 47% of Armenia’s exports by value was delivered to European countries while 51.7% was sold to importers in Asia.
Armenia shipped another 0.7% worth of goods to buyers in North America.
Tinier percentages went to customers based in Latin America (0.61%) excluding Mexico but including the Caribbean, Africa (0.03%) and Oceania’s Australia and New Zealand (0.003%).
Given Armenia’s population of 3 million people, its total US$8.3 billion in 2025 exports translates to roughly $2,800 for every resident in the Western Asian country. That dollar metric lags the average $4,400 per capita one year earlier during 2024.
Armenia’s Top 10 Exports
The following export product groups represent the highest dollar value in Armenian global shipments during 2025 at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Armenia.
- Gems, precious metals: US$2.9 billion (34.3% of total exports)
- Electrical machinery, equipment: $1.12 billion (13.5%)
- Ores, slag, ash: $1.12 billion (13.4%)
- Tobacco, manufactured substitutes: $671.4 million (8.1%)
- Beverages, spirits, vinegar: $434.8 million (5.2%)
- Clothing, accessories (not knit or crochet): $204.4 million (2.5%)
- Machinery including computers: $201 million (2.4%)
- Optical, technical, medical apparatus: $200.6 million (2.4%)
- Iron, steel: $159 million (1.9%)
- Aluminum: $97.6 million (1.2%)
Armenia’s top 10 exports generated 84.9% of the overall value of its global shipments.
Tobacco, including manufactured substitutes, represents the fastest grower among the top 10 export categories, up by 53.3% from 2024 to 2025.
In second place for improving export sales was the optical, technical and medical apparatus grouping, via a 42.2% advance.
Armenia’s shipments of ores, slag and ash posted the third-fastest gain in value, up by 21.3%.
The leading decliner among Armenia’s top 10 export categories was gems and precious metals, thanks to a -64.5% year-over-year drop. That product category was pulled down by lower sales of exported gold.
From the more granular four-digit Harmonized Tariff System code level, unwrought gold was Armenia’s most valuable exported product at 16.2% of the country’s total. In second place was jewelry (13.4%) trailed by phone devices including smartphones (10.8%), copper ores and concentrates (8%), cigarettes and cigars (3.1%), alcoholic beverages including spirits and liqueurs (7.5%), molybdenum ores and concentrates (2.7%), precious metal ores and concentrates (2.5%), iron ferroalloys (1.8%) then television receivers, monitors and projectors (1.7%).
Products Generating Armenia’s Largest Trade Surpluses
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 represent 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.
- Ores, slag, ash: US$1.1 billion (Up by 19.6% since 2024)
- Tobacco, manufactured substitutes: $384.3 million (Up by 29.2%)
- Beverages, spirits, vinegar: $295.3 million (Up by 9.9%)
- Gems, precious metals: $239.5 million (Down by -64.4%)
- Fish: $56.5 million (Up by 44.7%)
- Vegetables: $38.8 million (Down by -6.6%)
- Clothing, accessories (not knit or crochet): $31.2 million (Up by 17.5%)
- Live trees, plants, cut flowers: $28.9 million (Up by 218.6%)
- Lead: $4.8 million (Down by -31.3%)
- Vegetable/fruit/nut preparations: $1.4 million (Down by -64.2%)
Historically, Armenia has highly positive net exports in the international trade of ores and concentrates made of copper, molybdenum or precious metals. In turn, these cashflows indicate Armenia’s strong competitive advantages under the ores, slag and ash product category.
Products Causing Armenia’s Largest Trade Deficits
Armenia incurred an overall -US$4.5 billion trade deficit for 2025, expanding by 18.5% from -$3.8 billion in red ink one year earlier for 2024.
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.
- Mineral fuels including oil: -US$1.1 billion (Up by 6.6% since 2024)
- Machinery including computers: -$732.1 million (Down by -10.5%)
- Vehicles: -$647.3 million (Up by 25.3%)
- Electrical machinery, equipment: -$553.8 million (Up by 5.9%)
- Plastics, plastic articles: -$227.7 million (Up by 17.8%)
- Pharmaceuticals: -$196.4 million (Down by -5.9%)
- Articles of iron or steel: -$181.6 million (Up by 7.4%)
- Paper, paper items: -$178.7 million (Up by 22.1%)
- Meat: -$148.2 million (Up by 22.2%)
- Furniture, bedding, lighting, signs, prefab buildings: -$146.6 million (Up by 25.5%)
Armenia endures highly negative net exports and therefore deep international trade deficits under the mineral fuels-related product category.
Armenian Export Companies
Not one Armenian corporation ranks among Forbes Global 2000.
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)
In macroeconomic terms, Armenia’s total exported goods represent 11.2% of its overall Gross Domestic Product for 2025 ($74.3 billion valued in Purchasing Power Parity US dollars). That 11.2% for exports to overall GDP in PPP for 2025 compares to 18.8% one year earlier. Those percentages suggest a decreasing reliance on products sold on international markets for Armenia’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Armenia’s unemployment rate averaged 13.5% for 2025, up from an average 13% in 2024 according to Trading Economics statistics.
Armenia’s capital city is Yerevan.
See also Zambia’s Top 10 Exports, Turkey’s Top 10 Exports, Russia’s Top Trading Partners, Switzerland’s Top Trading Partners and Top Asian Countries
Research Sources:
Central Intelligence Agency, Country Profiles, The World Factbook. Accessed on September 23, 2026
EXCHANGE-RATES.org, Exchange Rates (Domestic Currency per U.S. dollar, period average). Accessed on September 23, 2026
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 23, 2026
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 23, 2026
International Trade Centre, Trade Map. Accessed on September 23, 2026
Investopedia, Net Exports Definition. Accessed on September 23, 2026
Wikipedia, Gross domestic product. Accessed on September 23, 2026
Wikipedia, Armenia. Accessed on September 23, 2026
Wikipedia, Gross domestic product. Accessed on September 23, 2026
Wikipedia, List of Companies of Armenia. Accessed on September 23, 2026
Wikipedia, Purchasing power parity. Accessed on September 23, 2026