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 2017. 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 2017 was $11.54 billion.
U.S. exports to Armenia totaled $46.59 million in 2018. 19.5% of the total was made up of miscellaneous manufactured commodities, this was followed by chemicals which made up 14%, special classification provisions which made up 13.3%, and food manufactures at 11.7%. Imports from Armenia to the U.S. in 2018 totaled $53.4 million. Of this, over 50% was made up of primary metal manufactures, followed by apparel manufacturing products, miscellaneous manufactured commodities, and beverage and tobacco products making up 15.7%, 12.2%, and 8.9%, respectively. (Trade Stats Express)
Trade with California
California exports to Armenia in 2018 totaled $6.58 million. Exports were made up of miscellaneous manufactured commodities, special classification provisions, computer and electronic products, and transportation equipment totaling 22.9%, 21.2%, 17.8%, and 16.5%, respectively. California was the third top exporting state to Armenia in 2018, behind New York and Georgia. (Trade Stats Express)
Imports from Armenia into California totaled $8.26 million in 2018. 45% of imports were made up of beverage and tobacco products, followed by almost 30% of food manufactures, and 12.2% of miscellaneous manufactured commodities. 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.