Armenia’s high-tech exports reach $979 million in 2024

PanARMENIAN.Net - The volume of high-tech products exported from Armenia in 2024 reached $979 million, according to a study by Modex consulting company analyzing export trends from 2021 to 2024. This figure surpasses the 2023 level by 0.8% and is 19 times higher than in 2021.

According to the company’s assessment, the significant growth in technology exports began in 2022, largely conditioned by the ongoing war in Ukraine.

"The sharp increase in exports compared to 2021 is primarily due to re-exports, with particularly strong growth observed in electronics and telecommunications equipment," the report states.

In 2024, 78.7% of Armenia’s high-tech exports—approximately $771 million—came from electronics and telecommunications products. This marks a 16% increase from the previous year and a 116-fold surge compared to 2021.

The report also notes that high-tech products accounted for 7.5% of Armenia’s total exports in 2024, down from 11.4% in the previous year.