Abstract

The purpose of this article is to conduct a comprehensive analysis of Armenian foreign trade on the main trends of exports, imports, trade turnover, exported and imported partner countries, and major commodity groups. In addition, the article calculated the Armenian export and import intensity index with several partner countries. The task of the work is to identify the main trends in Armenian foreign trade and assess the opportunities and potential for trade development. In this context, through a comparative analysis of comparable historical series, the author presented the trade processes recorded in Armenia during the years under review, identifying the main trends and directions. The research results show that the Armenian foreign trade processes have limited diversification both by the exported and imported group of partner countries and by commodity groups. On the other hand, due to the foreign trade intensity index, a number of unrealized opportunities have been identified among the EAEU member states (with the exception of Russia) and with China and European countries. In this context, the unrealized trade opportunities and their realization will directly affect both the Republic of Armenia's foreign trade and the economy's development as a whole. Thus, a comprehensive analysis of the Armenian foreign trade and an assessment of the intensity of exports and imports give reason to believe that we continue to fix diversification problems in individual commodity groups and foreign trade countries. In addition, the intensity of Armenia's foreign trade, due to various objective reasons, continues to be concentrated around several countries. All above-mentioned create problems in developing local production and increasing international competitiveness.

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