In the first half of 2023, Armenia had a trade surplus of $210mn with Russia, exporting more goods than it imported, media reports citing the customs data of Armenia. This happened for the first time since 2003.
The agency attributed this to a sharp rise in Armenia's exports. This year, goods supply tripled to $1.6bn while imports from Russia increased by 28% to $1.5bn.
In the first six months of 2023, the two countries had a record trade turnover of $3.1bn.
In April last year, Russian Foreign Minister Sergey Lavrov suggested that the trade turnover between Russia and Armenia should be calculated in currencies other than dollars. He confirmed that Russia remains Armenia's leading trade and investment partner, with a foreign trade share of over 30%.
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