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Armenia Pivots to EU as Exports Surge 80% and Trade With Russia Slumps
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Armenia increased its exports to the European Union by 80% in the first half of 2026, as trade with Russia declined amid a series of restrictions on Armenian goods.
According to The Moscow Times on August 20, citing data released by the Armenian government, exports to EU countries reached $516 million between January and June, up from $287 million during the same period in 2025.
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The increase came as Russia imposed successive restrictions on imports of Armenian products. The measures affected a range of goods, including fruits, vegetables, herbs, flowers, mineral water, alcoholic beverages, dairy products, and fish.
Against this backdrop, trade turnover between Armenia and Russia fell by 20.9% year-on-year in the first six months of 2026, according to Armenia’s Statistical Committee. Bilateral trade declined from $3.326 billion to $2.630 billion, the outlet reported.
Russia’s share of Armenia’s overall foreign trade also decreased, falling from 34.7% to 27.5%.
Russian Deputy Prime Minister Alexey Overchuk described the decline in trade with Armenia as “dramatic” and warned that the downward trend was expected to continue.
According to The Moscow Times, she first Russian restrictions on the import and transit of Armenian goods were introduced shortly before Armenia’s parliamentary elections on June 7. The number of restrictions increased significantly following the victory of Prime Minister Nikol Pashinyan’s party.
Pashinyan described the restrictions as politically motivated.
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Amid the growing trade barriers, Armenia began redirecting exports toward alternative markets, including the European Union.
The decline in Russian-Armenian trade comes despite a broader increase in Russia’s export revenues. Russia’s export earnings rose by $28 billion year-on-year in the second quarter, or 27%, reaching $125.7 billion as global commodity prices surged amid supply disruptions linked to fighting in the Middle East and the closure of the Strait of Hormuz.
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