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Where does Armenia get its gold? Import sources 2024

In 2024, Armenia imported $5.9 billion of gold (199 tonnes), 1.1% of the world total. Russia sold 99% of the total, followed by the United Arab Emirates (0.4%) and Curaçao (0.2%). Armenia was the world’s 16th-largest importer of gold.

Summary

Value
$5.9billion
Tonnes
199tonnes
Share of world total
1.1%
World rank
16th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 11 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Russia5.9Tonnes: 198USD per tonne: $29,782,80899.2%Air
United Arab Emirates0.03Tonnes: 0USD per tonne: $78,037,7330.44%Air
Curaçao0.01Tonnes: 0USD per tonne: $68,396,2420.24%Air
Switzerland< 0.01Tonnes: 0USD per tonne: $71,713,7220.07%Air
United States< 0.01Tonnes: 0USD per tonne: $74,025,0000.05%Air
Austria< 0.01Tonnes: 0USD per tonne: $73,117,8570.01%Air
Germany< 0.01Tonnes: 0USD per tonne: $109,322,5000%Air
Thailand< 0.01Tonnes: 0USD per tonne: $72,419,6670%Air
Saudi Arabia< 0.01Tonnes: 0USD per tonne: $70,085,3330%Air
Australia< 0.01Tonnes: 0USD per tonne: $83,170,0000%Air
Italy< 0.01Tonnes: 0USD per tonne: $1,091,0000%Air

Trend

Who it buys from

Russia has been its main source since 2019

Value in USD billions. The five largest sources in 2024.

  • Russia 5.9
  • United Arab Emirates 0.03
  • Curaçao 0.01
  • Switzerland < 0.01
  • United States < 0.01

Source: CEPII BACI

Show the numbers
Partner19952024
Russia05.9
United Arab Emirates00.03
Curaçao00.01
Switzerland0< 0.01
United States< 0.01< 0.01

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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