Armenia exports more goods to Türkiye in 2022 than in 2021

REGION  02 March 2023 - 11:49

Armenia and Türkiye traded $324.5 million in 2022, which is 4.4 times more than in the same period of 2021 ($73.5 million).

The statement came from Armenia's Economy Ministry, Caliber.Az reports, citing Armenian media.

Moreover, lifting the ban on the import of Turkish goods to Armenia positively impacted import and export items.

Thus, in 2022, exports from Armenia to Türkiye increased 139 times to $61.2 million (in 2021 it was $0.44 million), but imports of Turkish goods increased 3.6 times. Last year, Turkish products worth $263.3 million were imported to Armenia, while in 2021 (when there was an embargo) this figure was $73 million.

The embargo on Turkish products entered into force on January 1, 2021. This had a negative impact on trade between the countries. Thus, in 2021, the trade turnover decreased by 68.3 per cent, reaching the level of $73.5 million instead of $231.5 million in 2020.

During the embargo period in 2021, the import of raw materials and products for processing from Türkiye was officially allowed to Armenia. These are building materials, knitted and cotton fabrics, and genuine leather. At the same time, goods with high customs duties were not imported. The Armenian Economy Ministry explained the preservation of certain volumes of imports of goods of Turkish origin by the fact that they are more profitable in price, in addition, geography also plays an important role (it is quite expensive to bring goods from distant countries).

As for the import of Turkish goods in 2022, the request explained that Armenia received the most aluminium fittings and corners, citrus fruits (fresh or dried), knitwear (suits, jackets, blazers, dresses, skirts and similar clothing for women and men), electrical appliances (heater; the device for heating of premises and ground; household electric heating devices). Tiles made of fibreglass or wood and other wood materials, vehicles of special significance and cargo, and synthetic yarn, not packaged.

But Armenia exported to Türkiye mainly gold (including electroplating) and gold dust, tanned leather, cattle hide, appliances (dishwasher or dryer); labels and devices for wrapping carbonated drinks, precious and semi-precious stones, equipment for industrial cooking or beverages.

Caliber.Az