EU closes in on Russia as Armenia’s trade partner, share rises to 19%
Armenia’s trade with the European Union rose 53.9% to $2.43 billion in January-August 2026, while trade with Russia fell 19.2% to $3.59 billion. According to the Statistical Committee of Armenia, the EU’s share of Armenia’s foreign and mutual trade rose from 12.3% to 19%, and Russia’s fell from 34.5% to 27%.
The gap between the two partners narrowed from $2.86 billion a year earlier to $1.16 billion. Armenia’s total trade over the eight months reached $13.27 billion (+3.2%).
Exports to the EU grew 66.4% to $650 million, while exports to Russia fell 9.1% to $1.65 billion. Imports from Russia dropped 26% to $2.03 billion, and imports from EU countries rose 39.3% to $1.93 billion.
Germany remained the largest EU partner at $390.2 million (+31.2%), followed by Italy at $313.1 million (+5.9%) and Bulgaria at $243.7 million, 4.6 times more than a year earlier. Exports to Bulgaria rose fivefold to $183.7 million, and to Belgium 95.2% to $144.5 million.
Trade with Eurasian Economic Union countries as a whole fell 17.2% to $3.85 billion, and their share from 36.1% to 29%. Trade with Belarus grew 23.3% and with Kazakhstan 12.1%.
Among individual countries, China remained the second-largest partner after Russia, with trade up 31% to $2.18 billion, a 15.7% share.
The trade deficit with Russia narrowed from $809.5 million to $287.4 million, while the deficit with the EU widened from $797.5 million to $1.13 billion.
Background
Since June 2026, Russia has restricted imports of Armenian plant and animal products. The Central Bank of Armenia estimates that the restrictions cover products whose exports amounted to about 1.2% of GDP in 2025. Most of Armenia’s output of flowers, fish products and stone fruit goes to Russia, and the scope to redirect it to other markets in the short term is limited.
On September 24, the Council of the European Union formally adopted temporary trade-liberalisation measures for Armenian products. They cover around 80% of Armenian exports to the EU and will apply for two years. According to the Council, the measures are intended to support Armenia’s economy following the restrictions imposed by Russia. The January-August data cover the period before these measures take effect.
| Partner | January-August 2025, $ million | Share, % | January-August 2026, $ million | Share, % | Change, % |
|---|---|---|---|---|---|
| Total | 12,863.5 | 100.0 | 13,274.3 | 100.0 | +3.2 |
| EAEU countries | 4,643.2 | 36.1 | 3,846.5 | 29.0 | −17.2 |
| of which Russia | 4,441.9 | 34.5 | 3,591.0 | 27.0 | −19.2 |
| EU countries | 1,578.5 | 12.3 | 2,429.8 | 19.0 | +53.9 |
| of which Germany | 297.3 | 2.3 | 390.2 | 2.9 | +31.2 |
| Italy | 295.7 | 2.3 | 313.1 | 2.4 | +5.9 |
| Bulgaria | 53.1 | 0.4 | 243.7 | 2.0 | 4.6x |
| China | 1,662.1 | 13.0 | 2,177.9 | 15.7 | +31.0 |
| Iran | 482.3 | 3.7 | 517.6 | 3.8 | +7.3 |
| United States | 239.3 | 1.9 | 324.7 | 2.5 | +35.7 |
Source: Statistical Committee of Armenia. Trade turnover, foreign and mutual trade. Mutual trade is Armenia’s trade with Eurasian Economic Union countries.
