On the principle of reciprocity, the new US tariffs did not bypass goods imported from Armenia, Georgia and Azerbaijan. In the case of all three countries, there is a 10 percent increase.
Radar Armenia spoke with economist, expert at the Amberd Research Center Aghasi Tavadyan on the topic. –
– How much does Armenia’s export to the US make up in the total export volume?
– Exports from Armenia to the US make up a small part of the total. In 2020-22, exports to the US were about $80 million, in 2023 they decreased to $47 million, in 2024 – $45 million. If in 2022, exports from Armenia to the US made up 2-3% of the total, then in 2024 they were only 0.4%.
– What products does Armenia mainly export to the US?
-Precious and semi-precious stones are in the first place, accounting for about 15% of US exports. Then there are drinks: mineral water, brandy, wine, which make up about 10% of US exports. These are followed by canned vegetables, then dairy products. The remaining products have a smaller place in exports.
– How will this affect Armenia’s exports to the US?
The current customs duty for Armenia, even after the increase, is one of the lowest compared to other countries. Trump is moving according to the following logic: the country that applies a customs duty to the US for importing goods, the US also imposes about half of it. For example, if Japan applies a 46% customs duty on goods imported from the US, the US will apply 24% from today, China – 67%, the US – 34%, but the minimum is 10%, which applies to Armenia. In comparison, the customs duties on Armenian goods are the lowest. This, of course, can be a certain obstacle for our exports, but it should be understood that our exports to the US are small in general. We mainly export goods to the US that can be replaced. There is a certain probability that the export of these goods will be reduced, but not to a large extent. We must take into account that these customs duties will apply to all countries. And since the largest country in our region is Russia, this will also contribute to the strengthening of economic ties with Russia.
