Editing Economy of Armenia (section)

===Partners===
====European Union====
{{See also|Armenia-EU Comprehensive and Enhanced Partnership Agreement|European Business Association (Armenia)}}
In 2022 Armenia's bilateral trade with the EU topped $2.3 billion, making the EU one of Armenia's biggest and most important economic partners.<ref>{{Cite web|url=https://www.civilnet.am/en/news/692603/as-armenia-eu-trade-blooms-armenian-exporters-look-to-new-opportunities/#:~:text=Armenia's%20bilateral%20trade%20with%20the,and%20most%20important%20economic%20partners.|title=As Armenia-EU trade blooms, Armenian exporters look to new opportunities|website=[[civilnet.am]]|date=21 February 2023|access-date=20 March 2023|archive-date=28 March 2023|archive-url=https://web.archive.org/web/20230328000409/https://www.civilnet.am/en/news/692603/as-armenia-eu-trade-blooms-armenian-exporters-look-to-new-opportunities/#:~:text=Armenia's%20bilateral%20trade%20with%20the,and%20most%20important%20economic%20partners.|url-status=live}}</ref>

EU-Armenia trade increased by 15% in 2018 reaching a total value of €1.1 billion.<ref>{{Cite web|url=https://armenpress.am/eng/news/975571.html|title=EU-Armenia Partnership Implementation Report: EU is a crucial partner for Armenia's reform agenda|website=armenpress.am|date=21 May 2019 |access-date=2022-06-21|archive-date=2020-09-28|archive-url=https://web.archive.org/web/20200928115755/https://armenpress.am/eng/news/975571.html/|url-status=live}}</ref>

In 2017 EU countries accounted for 24.3 percent of Armenia's foreign trade.<ref name=":2">{{Cite news|url=https://hetq.am/hy/article/85410|title=Արտաքին առևտուր. Հայաստանի TOP 10 գործընկերները 2017 թվականին|language=hy|access-date=2022-12-29|archive-date=2023-11-09|archive-url=https://web.archive.org/web/20231109221933/https://hetq.am/hy/article/85410|url-status=live}}</ref> Whereby exports to EU countries grew by 32,2% to $633 million.<ref name=":3">{{Cite web|url=http://arka.am/ru/news/economy/eksport_armenii_po_itogam_2017_goda_sostavil_2_242_9_mln_rost_stal_maksimalnym_za_5_let/|title=Экспорт Армении по итогам 2017 года составил $2 242.9 млн., рост стал максимальным за 5 лет|website=arka.am|date=31 January 2018 |access-date=2018-02-08|archive-date=2018-02-09|archive-url=https://web.archive.org/web/20180209002827/http://arka.am/ru/news/economy/eksport_armenii_po_itogam_2017_goda_sostavil_2_242_9_mln_rost_stal_maksimalnym_za_5_let/|url-status=live}}</ref>

In 2010 EU countries accounted for 32.1 percent of Armenia's foreign trade.<ref name="Armenia_in_2010" /> Germany is Armenia's largest trading partner among EU member states, accounting for 7.2 percent of trade; this is due largely to mining exports. Armenian exports to EU countries have skyrocketed by 65.9 percent, making up more than half of all 2010 January to September exports. Imports from EU countries increased by 17.1 percent, constituting 22.5 percent of all imports.<ref name="Armenia_in_2010" />

During January–February 2007, Armenia's trade with the [[European Union]] totaled $200 million.<ref name="ArmeniaLib-Mar-30-2007">[http://www.armenialiberty.org/armeniareport/report/en/2007/03/43d15c73-f5fe-49e8-a4ce-2d4234f33cf6.asp "Armenia Keeps Up Robust Growth"] {{Webarchive|url=https://web.archive.org/web/20231109221933/https://www.azatutyun.am/a/1587530.html |date=2023-11-09 }}, Armenia Liberty ([[RFE/RL]]), March 30, 2007.</ref> During the first 11 months of 2006, the European Union remained Armenia's largest trading partner, accounting for 34.4 percent of its $2.85 billion commercial exchange during the 11-month period.<ref name="ArmLib-Jan-8-2007">[http://www.armenialiberty.org/armeniareport/report/en/2007/01/4b0b1a8a-57d2-4bfe-80a7-fe750c1c3ce9.asp "Armenia Posts Record-High Trade Deficit"] {{Webarchive|url=https://web.archive.org/web/20070223143516/http://www.armenialiberty.org/armeniareport/report/en/2007/01/4B0B1A8A-57D2-4BFE-80A7-FE750C1C3CE9.ASP |date=2007-02-23 }}, Armenia Liberty ([[RFE/RL]]), January 8, 2007.</ref>

====Russia and former Soviet republics====
On 14 October 2024, Armenia notified its ratification of the [[Commonwealth of Independent States Agreement on Free Trade in Services, Establishment, Operations and Investment]], which entered into force on 13 November 2024 for Armenia.<ref>https://cis.minsk.by/reestrv2/print/documentCard?ids=6738</ref>

In the first quarter of 2019, share of Russia in foreign trade turnover fell to 11% from 29% from the previous year.<ref>{{Cite web|url=https://news.am/eng/news/510449.html|title=Armenian economist on fall of Russian-Armenian trade turnover|website=news.am|language=en|access-date=2019-05-02|archive-date=2019-05-02|archive-url=https://web.archive.org/web/20190502120814/https://news.am/eng/news/510449.html|url-status=live}}</ref>

In 2017, CIS countries accounted for 30 percent of Armenia's foreign trade.<ref name=":2" /> Exports to CIS countries rose by 40,3% to $579,5 million.<ref name=":3" />

Bilateral trade with Russia stood at more than $700 million for the first nine months of 2010 – on track to rebound to $1 billion mark first reached in 2008 prior to the global economic crisis.<ref name="Armenia_in_2010" />

During January–February 2007, Armenia's trade with Russia and other [[former Soviet republics]] was $205.6 million (double the amount from the same period the previous year), making them the country's number one trading partner.<ref name="ArmeniaLib-Mar-30-2007"/> During the first 11 months of 2006, the volume of Armenia's trade with Russia was $376.8 million or 13.2 percent of the total commercial exchange.<ref name="ArmLib-Jan-8-2007"/>

====China====
In 2017 trade with China grew by 33.3 percent.<ref name=":2" />

As of early 2011 trade with China is dominated by imports of Chinese goods and accounts for about 10 percent of Armenia's foreign trade.<ref name="ArmLib-Feb-17-2011">[http://www.azatutyun.am/content/article/2312784.html ''Chinese FM Visits Armenia, Urges Closer Ties''] {{Webarchive|url=https://web.archive.org/web/20110219093806/http://www.azatutyun.am/content/article/2312784.html |date=2011-02-19 }}, Armenia Liberty ([[RFE/RL]]), February 17, 2011.</ref> The volume of Chinese-Armenian trade soared by 55 percent to $390 million in January–November 2010. Armenian exports to China, though still modest in absolute terms, nearly doubled in that period.<ref name="ArmLib-Feb-17-2011" />

====Iran====
Armenia's trade with Iran grew significantly from 2015 and 2020. Because Armenia's land borders to the east and west have been closed by the governments of Turkey and Azerbaijan, domestic firms have looked to Iran as a key economic partner. In 2020, trade between the countries exceeded $300 million.<ref name=":17">{{Cite web|date=2021-01-26|title=Trade between Iran, Armenia can reach $1b annually: Minister|url=https://en.irna.ir/news/84200385/Trade-between-Iran-Armenia-can-reach-1b-annually-Minister|access-date=2021-03-07|website=IRNA English|language=en|archive-date=2021-02-25|archive-url=https://web.archive.org/web/20210225070421/https://en.irna.ir/news/84200385/Trade-between-Iran-Armenia-can-reach-1b-annually-Minister|url-status=live}}</ref> The number of Iranian tourists has risen in recent years, with an estimated 80,000 Iranian tourists in 2010.<ref name="Armenia_in_2010"/> In January 2021, Iran's finance minister Farhad Dejpasand said that trade between the two countries could reach $1 billion annually as Iran looks to become a regional economic force.<ref name=":17" />

====United States====
From January to September 2010, bilateral trade with the United States was about $150 million, on track for about a 30 percent increase over 2009.<ref name="Armenia_in_2010" /> An increase in Armenia's exports to the US in 2009 and 2010 has been due to shipments of aluminum foil.<ref name="Armenia_in_2010" />

During the first 11 months of 2006 US–Armenian trade totaled $152.6 million.<ref name="ArmLib-Jan-8-2007" />

====Georgia====
The volume of Georgian–Armenian trade remains modest in both relative and absolute terms. According to official Armenian statistics it rose by 11 percent to $91.6 million in January–November 2010. The figure was equivalent to just over 2 percent of Armenia's overall foreign trade.<ref name="ArmLib-Feb-16-2011">[http://www.azatutyun.am/content/article/2311549.html ''Armenia, Georgia Agree On Joint Border Control''] {{Webarchive|url=https://web.archive.org/web/20110219015947/http://www.azatutyun.am/content/article/2311549.html |date=2011-02-19 }}, Armenia Liberty ([[RFE/RL]]), February 16, 2011.</ref>

====Turkey====
In 2019 the volume of bilateral trade with Turkey was about $255 million, with trade taking place across Georgian territory.<ref>{{cite web| url=https://oec.world/en/profile/bilateral-country/tur/partner/arm#:~:text=Bilateral%20Trade%20by%20Products,-%23permalink%20to%20section&text=In%202019%2C%20Turkey%20exported%20%24255M%20to%20Armenia.,-The%20main%20products&text=(%2410.4M).-,During%20the%20last%2022%20years%20the%20exports%20of%20Turkey%20to,exported%20%244.86M%20to%20Turkey.,| title=Bilateral Trade by Products Turkey-Armenia| access-date=17 February 2022| archive-date=18 February 2022| archive-url=https://web.archive.org/web/20220218124419/https://oec.world/en/profile/bilateral-country/tur/partner/arm#:~:text=Bilateral%20Trade%20by%20Products,-%23permalink%20to%20section&text=In%202019%2C%20Turkey%20exported%20%24255M%20to%20Armenia.,-The%20main%20products&text=(%2410.4M).-,During%20the%20last%2022%20years%20the%20exports%20of%20Turkey%20to,exported%20%244.86M%20to%20Turkey.,| url-status=live}}</ref>  This figure is not expected to increase significantly so long as the land border between the Armenia and Turkey remains closed.<ref name="Armenia_in_2010" />