Global
Armenia's Foreign Trade Falls 12% in January 2026 to $1.28 Billion
March 9, 2026
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Armenia's foreign and mutual trade turnover fell 12% year-on-year in January 2026, amounting to $1.28 billion, according to data released by the Statistical Committee of Armenia. The decline follows a period of elevated trade activity in prior years, when Armenia served as a key transit and re-export hub amid international sanctions on Russia.
Import volumes reached approximately $812 million, a decline of 11.2% compared to January 2025 and a sharp 45.2% drop from December 2024's seasonally high figures. Russia remained Armenia's top individual trading partner, followed by China and the United Arab Emirates in the top three. Trade with EAEU partners fell 42.2%, while CIS-wide trade was down 40%.
Key import categories showing notable declines included precious and semi-precious stones and metals, down 63.3%, which reflects a normalization from unusually elevated re-export activity in prior periods. Agricultural products bucked the trend, rising 8.5% year-on-year. Textiles and textile articles were down 6.1%.
Economists note that Armenia's trade geography continues to be shaped by structural constraints: the country has no sea access, and closed borders with Turkey and Azerbaijan historically concentrated trade flows through Georgian and Iranian corridors. The TRIPP peace framework, expected to enable rail and road transit through southern Armenia, has the potential to significantly reshape this picture from 2027 onward, as Armenpress has documented in its coverage of regional trade developments.
February 2026 inflation came in at 4.3% year-on-year, slightly above the Central Bank's target, suggesting persistent upward price pressures despite the economic slowdown in goods trade. Gasoline prices fell 8.2% in February compared to the prior year, providing some relief to logistics-dependent businesses, as tracked by Eurasianet.
