- Until 2022, copper ores and concentrates were Armenia’s leading export commodity, accounting for an average of 23% of the country’s annual exports between 2015 and 2021.
- Between 2022 and 2024, the share of copper ores and concentrates in Armenia’s exports declined significantly, driven by a sharp increase in exports (including re-exports) of other commodities—dropping from 26% in 2021 to just 4% in 2024.
- Since 2016, China’s share in Armenia’s exports of copper ores and concentrates has grown steadily, making it the country’s leading importer in this category. By 2024, China accounted for 78% of Armenia’s total copper ore and concentrate exports, up from just 18% in 2016.
- Despite the high degree of market concentration, copper is a globally traded stock market commodity. This means that, all else being equal—such as transportation costs, smelting fees, and other related expenses—it can be exported to alternative markets beyond the current dominant buyers.
