ArmInfo.Armenia has demonstrated significant success in its policy to diversify export markets, as stated by Armenian Economy Minister Gevorg Papoyan at a press- briefing on May 21.
Specifically, Papoyan announced that between January- April 2026, Armenian exports to both China and the European Union doubled. "This is the direct outcome of our sustained policy. We must maintain this momentum so that within the next two to three years, Armenia eliminates dependency on any single market. Consequently, disruptions in any specific market will no longer exert a significant impact on our economy," the Minister stated.
According to data from the Statistical Committee of the Republic of Armenia, foreign trade turnover between Armenia and EU member states grew by 54.3% in Q1 2026, surpassing $763.2 million. Within this figure, export volumes surged by 89.8% to reach $248.7 million, while imports rose by 41.5% to $514.5 million. Meanwhile, bilateral trade with China grew by 19.6% during the reporting period, totaling $701.7 million. This was driven by a 2.3-fold spike in Armenian exports to China, reaching $251.3 million, which offset a 6.1% decline in imports from China, which stood at $450.4 million.
