Armenia - Market Overview

Merchandise Trade between Armenia and Canada

Bilateral merchandise trade in 2018: Canadian exports to Armenia $10.4 million, Canadian imports from Armenia $24.6 million. (Source:  Statistics Canada) 

Why Armenia matters 

Sectoral opportunities in Armenia 


Currently, 30 percent of Armenia’s energy comes from renewables - largely hydroelectricity. The Armenian government is also increasingly putting efforts into the development of wind and solar energies, the latter being the most promising given the amount of annual sunshine in Armenia. The Government of Armenia, in collaboration with the European Bank for Reconstruction and Development (EBRD), is also expected to move forward with the construction of several new solar power plants.


In Armenia, there is eagerness from youth, industry, government officials and universities to collaborate and deepen relations with Canadian institutions. Language training in both French and English is popular among Armenian students.

Information and communication technologies

The high-tech industry is one of the fastest growing in Armenia. It holds potential for trade expansion with Canada, particularly in the ICT sector, where niches can be identified. Armenia’s newly established Ministry of High Technologies (2019) demonstrates the country’s interest in the development of this sector and the digital economy. Armenia was the host of the World Congress on Information Technology in 2019. 


The construction of the North-South Corridor, a road of 600km connecting Armenia’s borders and beyond, provides business opportunities for Canadian enterprises in the infrastructure industry, including many related sectors such as transportation, signaling, design and engineering consulting services.

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