Armenia's decision to lift the embargo on Turkish goods had a beneficial effect on trade between the countries. Last year, exports from Türkiye increased by almost 140 times. The trade turnover between the countries increased 4.4 times.
The exports from Armenia to Türkiye increased by 139 times to $61.2 million, the Armenian Ministry of Economy said.
Export and importAfter Armenia lifted the sanctions imposed on Turkish goods, the trade turnover between the two countries amounted to $324.5 million last year. The imports of Turkish goods went up by 3.6 times.
Türkiye mainly exported citrus fruits, electrotechnology, and construction materials to Armenia, Sputnik Armenia reports.
The Armenian government imposed an embargo on Turkish goods from January 1, 2021. As a result, in 2021 trade decreased by 68.3%, declining to $73.5 million from $231.5 million a year ago.
At the end of 2021, Yerevan decided to lift the embargo. As a result, Armenia's exports to Turkey in the six months of 2022 grew by almost 200 times.
