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 32nd on the 2021 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 2.95 million in 2019. 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 2019 was $13.6 billion.
U.S. exports to Armenia totaled $28 million in 2020. 16.1% of the total was made up of food manufactures, this was followed by miscellaneous manufactured commodities which made up 15%, non-electrical machinery which made up 13.3%, and computer and electronic products at 11.8%. Imports from Armenia to the U.S. in 2020 totaled $67.86 million. Of this, 46.6% was made up of primary metal manufactures, followed by miscellaneous manufactured commodities, beverage and tobacco, and apparel manufacturing products making up 18.98%, 11.3%, and 9.5%, respectively. (Trade Stats Express)
U.S. foreign direct investment (FDI) into Armenia in 2019 totaled $6 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 2020 totaled $6.3 million. Exports were made up of special classification provisions, computers and electronic products, used or second-hand merchandise, and miscellaneous manufactured commodities totaling 20.3%, 16.7%, 13.9%, and 10.9%, respectively. California was the top exporting state to Armenia in 2020. (Trade Stats Express)
Imports from Armenia into California totaled $17.6 million in 2020. 36.5% of imports were made up of miscellaneous manufactured commodities, followed by 35.7% of beverage and tobacco products, and 19.4% of food manufactures. California was also the second largest importing state of Armenian exports, behind Georgia. (Trade Stats Express)
California Partners with Impact Hub Yerevan on Trade and Services Desk
Governor’s Office of Business and Economic Development, June 1, 2021
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