Let’s talk about the Armenia Top Exports to Start a Business in Armenia. The Republic of Armenia, a small country in western Asia has experienced long-term geographic and geopolitical difficulties. Armenia’s economy began to show signs of significant recovery in early 2022 after experiencing a setback in 2020/2021 as a result of two shocks from COVID-19 and the 2020 Nagorno-Karabakh conflict. Armenia now employs tens of thousands of highly qualified Russian IT professionals, and hundreds of businesses have relocated there, supporting the country’s already growing high-tech industry.
The IMF forecasts that real GDP would increase by roughly 5% in 2022. In 2020, Armenia ranks 132nd globally by GDP, 128th globally by total exports, and 136th globally by total imports. In 2021, goods worth US$ 2.97 billion were exported worldwide. That amount represents a 38.5 percent increase from $2.14 billion in 2017, five years earlier. Armenia’s export product exports contribute half (53.1%) of Armenia’s earnings. Here is complete detail about Armenia Top Exports are given Below.
List of Armenia Top Exports:
Following are the details of various Armenia Top Exports: Explore free business listings sites here.
Copper Ores, slag, and ash are among the major product categories shipped from Armenia, according to data on the country’s exports to other countries. This particular product category made up 31.1% of the total exports of Armenia’s overall exports, which was $923.2 million USD.
Precious metals and Gems:
In the second place, Armenia Top Exports are gold, silver, platinum, palladium, pearls, precious stones, metals, coins, etc., which are valued at $333 million USD million and exports account for 11.2% of the country’s total exports.
Beverages, spirits, and vinegar:
Another major addition to the Armenia export products is Beverages, spirits, and vinegar which has an overall export percentage of 9.8% in 2021 in Armenia. The value of these products is $291 million.
Tobacco and manufactured tobacco substitutes:
Tobacco and manufactured tobacco alternatives are another industry that exported the most from Armenia in 2021. These products made up a staggering 8.4% of total exports from Armenia and have a worth of $249.8 USD Million.
Iron and steel, Aluminum:
Other important exports of Armenia include iron and steel, aluminum and related products, mineral fuels, oil, distillates, etc. The overall export percentage of iron and steel is 6.8% and is valued at $201.1 million. The overall export percentage of Aluminum is 4.5% and is valued at $133.8 million.
Articles of apparel and Accessories:
Articles of apparel, and accessories, not knit or crochet is now a significant part of the country’s export revenues. Clothing and accessories accounted for 4.3 percent of the total export and were valued at $129 million.
Armenia also produced high-quality agricultural items which are exported all over the world. The country has produced a large number of agricultural items that include Vegetables, fruits, nuts, and plant products. Fruits and nuts accounted for 2.2% percent of the total export and were valued at $64 million. The overall export percentage of Vegetables is 1.9% and is valued at $57.8 million
Sea Foods is one of the Armenia Top Exports as the country export annually exports a large quantity of fresh and healthy fish throughout the globe. The overall export percentage of 2.1% and is valued at $63.4 million.
List of Armenian Major Export Companies:
Below is a list of major Armenian export companies.
- Ararat Cement (Construction Material)
- Osher Wine Factory (Winery)
- Jarmuk Mineral Water Factory (Mineral Water)
- Cotech Brewery (Alcoholic Beverages)
- Multi Group Stone (Stone Work)
- Ucom (Telecommunications)
- Yerevan Brandy Company (alcoholic beverages)
- Yerevan Computer Research and Development Institute (Technology)
- Yerevan Confectionery and Macaroni Factory (Food)
- Zangezur Copper and Molybdenum (Metal)