ArmeniaEconomy

The Decline and Development of Armenian-French Trade Relations

Yesterday, the Prime Minister of Armenia, Nikol Pashinyan, met with France’s newly appointed Prime Minister, Michel Barrier. The prime ministers welcomed the development of bilateral trade and economic cooperation. The French Prime Minister also expressed his special regard for Armenia and the Armenian people.

Both prime ministers emphasized the importance and growth of trade relations. In this context, the trade and economic ties between the two countries over the past five years can be considered.

The value of imports from France increased by $56 million from 2018 to 2023, reaching $166 million. From 2018 to 2022, the total volume of imports remained almost the same, fluctuating between $110 and $112 million. Surprisingly, a significant portion of the import value from France consisted of airplanes and spacecraft, with around $35 million spent on them. Other imported goods include pharmaceuticals, essential oils, perfumes, nuclear reactors, machines, varnishes, glass, glassware, and medical equipment.

A different picture emerges in exports to France. From 2018 to 2023, the total export volume decreased from $13.9 million to around $6.3 million. France primarily imports aluminum from Armenia (the largest portion of imports, valued at $1.06 million), as well as cameras, medical devices, leather goods, seat belts, beverages, alcoholic drinks, pearls, and precious stones.

Source: Trading Economics

Samvel Mkhitaryan