Trading Partner Portal: Armenia
Armenia is a democratic nation-state – bordered by Turkey to the west, Georgia to the north, and Iran to the south – that has an ancient cultural heritage. The modern Republic of Armenia became independent in 1991 during the dissolution of the Soviet Union. Today, Armenia is a member of the Eurasian Economic Union, Council of Europe, and the Collective Security Treaty Organization.
Armenia ranks 47th on the 2019 Economic Freedom Index ahead of countries like France, Portugal and Italy. The Velvet Revolution which took place in 2018 brought full democracy to Armenia and a new interest in trade and investment. The Armenian government has been working closely with the Overseas Private Investment Corporation (OPIC) with interest in the high tech and electronics sectors, as well as agriculture, food processing, and textiles.
Armenia’s population was approximately 3 million in 2018. There are 8 million Armenians that live abroad, including 1.5 million in the U.S., with 700,000 Armenians in California alone. Armenian GDP in 2018 was $12.43 billion.
U.S. exports to Armenia totaled $52.9 million in 2019. 23.5% of the total was made up of computer and electronic products, this was followed by second-hand merchandise which made up 23.2%, miscellaneous manufactured commodities which made up 14.7%, and food manufactures at 12.5%. Imports from Armenia to the U.S. in 2019 totaled $55 million. Of this, 39.2% was made up of primary metal manufactures, followed by miscellaneous manufactured commodities, apparel manufacturing products, and beverage and tobacco products making up 17.8%, 16.5%, and 11.5%, respectively. (Trade Stats Express)
U.S. foreign direct investment (FDI) into Armenia in 2018 totaled $7 million, while Armenia FDI into the U.S. totaled $3 million the same year. (Bureau of Economic Analysis)
Trade with California
California exports to Armenia in 2019 totaled $7.97 million. Exports were made up of used or second-hand merchandise, miscellaneous manufactured commodities, primary metals, and special classification provisions totaling 35.8%, 18.5%, 11.6%, and 10.1%, respectively. California was the second top exporting state to Armenia in 2019, behind New York. (Trade Stats Express)
Imports from Armenia into California totaled $12 million in 2019. 40.5% of imports were made up of beverage and tobacco products, followed by 24% of miscellaneous manufactured commodities, and 23% of food manufactures. California was also the third largest importing state of Armenian exports, again behind first Georgia and then New York. (Trade Stats Express)
On July 8, 2019, CalChamber Vice President of International Affairs, Susanne Stirling, met with Consul General of Armenia in Los Angeles, Ambassador Armen Baibourtian, at the CalChamber offices in Sacramento.
Key Country Contacts
- Consulate General of Armenia, Los Angeles
- Select Committee on California, Armenia and Artsakh Mutual Trade, Art and Cultural Exchange
- Governor’s Office of Business and Economic Development Overseas Presence: Armenia
- International Trade FAQs