Market and Foreign Trade
Overview
EAEU Membership
Consumer Market
Member countries
Gross Domestic Product
Preferential Trade Regimes
Export Growth
Main Exports
Major Export Destinations
Overview
Armenia is pursuing a multi-vector foreign trade policy, with the government consistently working towards diversifying its export destinations. While Armenia's domestic market may appear limited with a population of 3 million consumers, the country serves as a gateway to significant markets. It enjoys access to a consumer market with 1 billion people with 0% or reduced customs duties.
EAEU Membership
Armenia became a member of the Eurasian Economic Union in 2015, gaining access to a range of benefits provided by the Union to its members and companies operating within the region.
Free Movement
The EAEU creates a common market where goods and services can flow freely among member states without customs duties, non-tariff barriers and technical regulations.
Common Customs Territory
Member states of the EAEU operate under a common customs territory, which allows for a unified approach to customs regulations, procedures and controls.
Mutual Recognition
The EAEU promotes the mutual recognition of certificates, licenses and other relevant documents among member states.
Coordination of Policies
The EAEU seeks to coordinate macroeconomic policies among member states to ensure stability and sustainable development.
Consumer Market
184,000,000
Being a member of Eurasian Economic Union, Armenia has an unlimited access to a market of 184 million consumers.
Member countries
Armenia
Russia
Kazakhstan
Kyrgyzstan
Belarus
Preferential Trade Regimes
01
Free Trade Agreements Within the Framework of the EAEU
Within the framework of the EAEU, Free Trade Agreements are in place with Vietnam, Singapore, Serbia and Iran (interim).
02
Separate Free Trade Agreements
Armenia also holds separate Free Trade Agreements with the CIS countries and Georgia.
03
GSP Regimes
In addition, Armenia benefits from GSP regimes with the United States, Japan, Canada, Switzerland and Norway for a wide range of approximately 3,500 products.
Gross Domestic Product
$ 19,503,000,000
Armenia's GDP in 2022 was estimated to be around $19,503 billion, with a per capita GDP of approximately $6,569.