Market Trends of Armenia Freight and Logistics Industry
Increasing Trade with European countries
In the first ten months of 2022, trade turnover between Armenia and Iran surged 45.3% to USD 565.6 million. According to Armenia's National Statistical Committee, the commercial transaction between Armenia and Iran increased by 45.3% from January to October 2022 to USD 565.5 million. Armenian exports to Iran increased by 82.4% yearly to USD 92 million, while imports from Iran increased by 39.1% to USD 474.3 million.
According to the National Statistical Committee, Armenia's international commerce increased by 47.7% in the first seven months of 2022 compared to the same period in 2021, reaching over USD 6.4 billion. Foreign trade in July 2022 alone was valued at more than USD 1.2 billion, representing a 67.1% rise over July 2021 and a 0.5% reduction over June 2022. Armenia's trade with EU nations was over USD 1.2 billion, representing a 36.7% increase yearly. Germany (about USD 234.7 million, up 50.1%), Bulgaria (about USD 172.9 million, up 22.9%), Italy (about USD 170.8 million, up 10.3%), the Netherlands (about USD 160.1 million, up 61%), and Belgium (USD 82.4 million, up 42.5%) were the top five most significant trading partners. Armenia's trade with China increased by 29.3% to USD 829 million, dealing with Iran increased by 28.1% to USD 276.8 million, work with the United States increased by 81% to USD 189.2 million, trade with the UAE nearly tripled to USD 189 million, trade with Switzerland decreased by 13% to USD 182 million, and trade with Iraq increased by 57.7% to USD 129, 3 million.
Traction of Armenians towards freight transportation through different modes
Over 8.3 million tons of various goods were transported in Armenia in the first six months of 2022, an 11.2% growth compared to the same period in 2021. The number of transported passengers surged by 40.4%, over 71 million, according to the National Statistics Committee. During the period under review, about 5.7 million tons of cargo were transported by trucks, 12.9% more than in January-June 2021; about 1.5 million tons by rail transport (1% rise ), about 1.2 million tons by trunk pipeline transport (18.4% rise ) and 8,000 tons by air transport (5.3% rise).
In the first 6 months of the year 2022, some 56.3 million people were transported by road transport (43.9% growth), 13.2 million by electric transport (25.4% growth), 1.4 million by air (75.6% growth), and 220,900 by rail (22.5% growth). In the reporting period of 2022, revenues from postal and courier activities amounted to about 7.7 billion drams, down 9.8% compared to the same period in 2021.
