ADB: Russia trade restrictions to weigh on Armenia’s growth

Russia’s import restrictions and trade disruptions linked to the conflict in the Middle East are expected to constrain Armenia’s economic growth, the Asian Development Bank (ADB) said in a report.

The bank said Armenia’s economic growth remained broadly stable despite softer demand, with GDP expanding by 6.0% in the first half of 2026, up slightly from 5.9% a year earlier.

However, the ADB warned that restrictions imposed by Russia on imports from Armenia, along with regional trade disruptions stemming from the Middle East conflict, would weigh on growth.

At the same time, domestic demand, continued expansion in construction and services, rising tourism and sustained fixed investment are expected to provide support over the forecast period.

The ADB kept its growth forecasts unchanged, following its downward revision in July, when it projected Armenia’s economy would grow by 5% in 2026 and 5.5% in 2027.

The report also highlighted a sharp slowdown in overall investment growth in Armenia, which fell to 0.4% in the first half of 2026.

By Sabina Mammadli