Russia, China, Switzerland, Germany and Bulgaria are Armenia’s largest trading partners.
Together they comprise 52% of Armenia’s foreign trade.
In 2017, Bulgaria, fifth on the list, took in 12.8% of total Armenian exports, but only accounted for 1% of Armenia’s imports.
In 2017, trade volume between the two nations rose by 75.2%. amounting to US$ 327 million. Most of the increase was due to greater Armenian copper exports to Bulgaria.
Last year, Armenian exports to Bulgaria increased by 87.8%, and Armenian imports from Bulgaria rose by 18.9%
Bulgaria is one of the few countries with which Armenia enjoys a trade surplus. Armenia’s ore exports are the reason why. The same situation holds for Switzerland, China and Germany.
In 2017, Armenia exported $286 million worth of goods to Bulgaria; the largest dollar amount in the last ten years.
As for Armenian imports from Bulgaria, they reached a pinnacle in 2008 at $118.6 million. The low point was 2014 - $25.5 million. They’ve been creeping up since.
Over the past few years, most of Ar...
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