ArmInfo. Armenia's gold exports, after increasing 2.7-fold in 2024, fell by 82.2% in 2025 to 13,794.4 kg. The customs value of imported gold also decreased proportionally, by 75.9%, to $1.3 million, according to data from the RA Customs Service.
The bulk of exports went to the UAE (84.7%) (versus 70.2% in 2024), India (9.4%), Hong Kong (2.6%), and the Russian Federation (2.5%). Smaller volumes were also supplied to China, Iran, and Georgia.
Gold imports to Armenia also declined significantly. Thus, in 2025, 20,540.6 kg of gold were imported, a 75.7% annual decrease (versus a twofold increase in 2024). Meanwhile, the customs value decreased by 61.3%, amounting to $2.3 million.
Russia is Armenia's main gold importer, accounting for 98.5% (versus 99.4% in 2024). The remaining volume was distributed among the UAE, Austria, Germany, and Thailand.
Meanwhile, according to statistics, production volumes in the jewelry industry, after growing by 51.8-46.8% in 2022-2023, already reversed their trend in 2024, with a 32.2% decline (to 53.2 billion drams). This decline accelerated in 2025 to 51.4%, resulting in a decline to 28.4 billion drams (returning to 2021 levels).
