01Key Takeaways
- Armenia's imports totaled $12.47 billion in 2023, up 44.2% from $8.65 billion in 2022, extending a second straight year of rapid growth.
- Russia was the top source, supplying 35.1% of imports worth $4.38 billion, followed by China at 12.9% ($1.60 billion).
- The top three import sources together accounted for 54.5% of total import value, a notably higher concentration than on the export side.
- Precious stones and metals led all import categories at 21.9% of total value ($2.73 billion), with vehicles second at 11.7% ($1.45 billion).
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $5.1B | $4.5B | $5.3B | $8.7B | $12.5B |
03Top Import Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | Russia | $4.4B | 35.1% |
| 2 | China | $1.6B | 12.9% |
| 3 | Vietnam | $815.2M | 6.5% |
| 4 | Iran | $597.2M | 4.8% |
| 5 | United States | $549.3M | 4.4% |
| 6 | Germany | $482.8M | 3.9% |
| 7 | India | $349.4M | 2.8% |
| 8 | Italy | $349.4M | 2.8% |
| 9 | Turkey | $335.8M | 2.7% |
| 10 | Japan | $332.3M | 2.7% |
04Top Import Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles thereof; Imitation Jewellery; Coin | $2.7B | 21.9% |
| 2 | Vehicles other than Railway or Tramway Rolling-Stock, and parts and accessories thereof | $1.5B | 11.7% |
| 3 | Electrical Machinery and Equipment and parts thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of such Articles | $1.4B | 11.4% |
| 4 | Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes | $1.1B | 8.6% |
| 5 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts thereof | $1.1B | 8.5% |
| 6 | Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories thereof | $248.9M | 2.0% |
| 7 | Plastics and Articles thereof | $247.8M | 2.0% |
| 8 | Pharmaceutical Products | $224.2M | 1.8% |
| 9 | Iron and Steel | $217.9M | 1.7% |
| 10 | Articles of Apparel and Clothing Accessories, not Knitted or Crocheted | $198.9M | 1.6% |
05Trade Partner Map
06Analysis
Armenia's Top Import Sources in 2023
Armenia brought in $12.47 billion worth of goods in 2023, the latest year with verified trade data in this dataset. That total marks an increase of 44.2% over the $8.65 billion recorded in 2022, extending a run of rapid growth that has also shown up on the export side of Armenia's trade profile. Russia remained by far the largest source, supplying 35.1% of total imports, worth $4.38 billion. China followed at 12.9%, or $1.60 billion, making these two countries together responsible for nearly half of everything Armenia imported.
Vietnam ranked third at 6.5% ($815.2 million), ahead of Iran at 4.8% ($597.2 million) and the United States at 4.4% ($549.3 million). Germany took sixth place at 3.9% ($482.8 million), followed by India and Italy, nearly tied at 2.8% each, worth $349.4 million apiece. Turkey and Japan rounded out the top ten at 2.7% each, worth $335.8 million and $332.3 million respectively. Together, the top three sources made up 54.5% of total import value, a concentration level well above what Armenia shows on the export side.
The scale of Russia's share stands out. No other single partner supplies even half of what Russia does, and the gap between first and second place is wider here than in most of the partner rankings this dataset covers. That leaves Armenia's import bill unusually exposed to shifts in trade flows with a single country. The remainder of the top ten is comparatively balanced, with seven partners each supplying between roughly 2.7% and 4.8% of the total, a spread that suggests Armenia has built out a reasonably diversified base of secondary suppliers even as one relationship dominates the top of the list. That balance below the top spot is one reason the overall concentration figure, while high, still leaves noticeably more room for smaller partners than a market dominated by just two or three sources would.
Leading Import Categories
Precious stones and metals top the import list as well as the export list. Natural and cultured pearls, precious and semi-precious stones, precious metals, and imitation jewellery was the largest import category in 2023, worth $2.73 billion and accounting for 21.9% of total import value. That points to Armenia's role as a processing and re-export hub for the jewelry trade, importing raw and semi-finished materials before shipping value-added goods back out. Vehicles and related parts and accessories came second at 11.7%, worth $1.45 billion, and electrical machinery and equipment followed closely at 11.4% ($1.42 billion).
Mineral fuels, oils, and related distillation products added 8.6% ($1.07 billion), while machinery and mechanical appliances contributed 8.5% ($1.06 billion). Optical, photographic, and medical instruments brought in 2.0% ($248.9 million), and plastics added a nearly identical 2.0% ($247.8 million). Pharmaceutical products contributed 1.8% ($224.2 million), iron and steel added 1.7% ($217.9 million), and apparel not knitted or crocheted closed out the top ten at 1.6% ($198.9 million).
For export-side sellers evaluating Armenia as a destination market, the category mix signals two distinct opportunities. Raw materials and semi-finished goods feeding the jewelry trade represent the single largest channel, while vehicles, electronics, machinery, and fuel together form a second tier of substantial but more evenly split demand. Consumer goods sellers outside those categories will find a comparatively thin market, since nothing past the top five clears even 3% of total import value.
A Fast-Growing, Diversifying Import Profile
The five-year trend shows imports climbing steadily before accelerating sharply. Imports moved from $5.06 billion in 2019 to $4.45 billion in 2020, recovered to $5.32 billion in 2021, then jumped to $8.65 billion in 2022 and again to $12.47 billion in 2023. That two-year surge, a 44.2% increase in the most recent year on top of an already large jump the year before, has more than doubled Armenia's import total since 2021.
Unlike the concentration seen on the export side, where a single product category covers well over a third of total value, Armenia's imports spread more broadly across precious materials, vehicles, electronics, fuel, and machinery, with the top category still under a quarter of the total. Import growth of this pace and scale, alongside a similarly sharp rise in exports, points to a trade profile expanding faster than its historical baseline across the board rather than in one narrow segment.
This pattern fits the wider picture described by the World Bank, which points to regional trade shifts as a factor reshaping Armenia's external accounts in recent years. For a closer look at how individual partner countries or product categories break down year over year, the data panels above provide the full detail behind these figures.