A landlocked country with boundary disputes with both Turkey and Azerbaijan to the west and east, Armenia's external trade is severely restricted. As a result, Armenia typically has large trade imbalances. Metals and precious stones, which are followed by energy, beverages, vegetables and fruit, and then textiles and clothing are Armenia's primary exports. Oil, natural gas, grains, rubber products, cork, and wood, as well as electrical apparatus and equipment, are the country's main imports. Russia, Germany, Iran, the United States, China, Ukraine, and Turkey are Armenia's largest trading partners.
A higher than expected figure should be seen as positive (bullish) for the AMD while a lower than expected figure should be seen as negative (bearish) for the AMD.
