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Diana Galoyan
Diana Matevosyan


This article aimed to provide a quantitative assessment of the impact of the Russian-Ukrainian conflict on Armenia’s foreign trade. The research problem was to analyze how the conflict influenced Armenia’s export and import patterns regarding geographical directions and product structure. The objectives were to examine the changes in trade turnover and identify shifts in geographical trade directions and trade structure. The study employed various statistical analysis tools, including dynamic series indicators, structural analysis, time series modeling, trend and moving average approximation, and extrapolation. Through these methods, the study evaluated the effects of the conflict on Armenia’s foreign trade. The key results indicated a positive impact of the conflict on trade turnover, with increased trade activity in various geographical directions. Export diversification was also observed as a result of the conflict. Notably, re-export played a significant role in the unprecedented growth of Armenia’s trade turnover during this period. In conclusion, the findings suggest that the Russian-Ukrainian conflict had a discernible influence on Armenia’s foreign trade, leading to changes in trade patterns and increased trade activity. The study highlights the importance of the re-exports role in analyzing trade dynamics. 


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How to Cite
Galoyan, Diana, and Diana Matevosyan. 2023. “THE IMPACT OF THE RUSSIAN-UKRAINIAN CONFLICT ON ARMENIA’S FOREIGN TRADE: A QUANTITATIVE ANALYSIS”. Journal of Liberty and International Affairs 9 (2):89-103.
Author Biographies

Diana Galoyan, Armenian State University of Economics -Yerevan, Republic of Armenia

Diana Galoyan is an esteemed economist, professor, and academic leader currently serving as the Rector of the Armenian State University of Economics (ASUE). With a strong educational background and a wealth of experience, she has made significant contributions to the field of global economics and international economic relations. Diana Galoyan completed her undergraduate studies at the Yerevan State University of Economics, where she specialized in "International Economics" and earned her economist degree. Continuing her academic journey, she pursued post-graduate studies in "International Economics" at ASUE, further solidifying her expertise in the field. Throughout her career, Diana Galoyan has held various key positions at ASUE, demonstrating her commitment to academic excellence and institutional leadership. Prior to her appointment as Rector, she served as the head of the Chair of "International Economic Relations" and Vice-rector on Academic Affairs at ASUE. Beyond her contributions to ASUE, Diana Galoyan has served as an Associate Professor at the Center for European Studies at Yerevan State University and as a Lecturer at the British School of Business in Armenia. These experiences allowed her to broaden her perspectives and engage in international academic exchanges. Diana Galoyan participated in numerous international symposiums, seminars, and conferences. Her research interests encompass various aspects of international economics, economic integration, and foreign trade. Fluent in English and Russian, Diana Galoyan possesses excellent communication skills, enabling her to collaborate and engage with scholars, researchers, and students from around the world.

Diana Matevosyan, Armenian State University of Economics -Yerevan, Republic of Armenia

Diana Matevosyan is postgraduate student of the Armenian State University of Economics, specialization - "International Economics". As a post-graduate student, she is writing a dissertation entitled "Study of the interdependence of foreign trade and macroeconomic policy of the Republic of Armenia". She has about 6papers and participated in two distance seminars organized by “iScience”journal. Also, participated in 2 grant programs announced by the Ministry of Labor and Social Affairs of the Republic of Armenia. The cycle of scientific interests: modern approaches to time series analysis and forecasting, neural network, infinite number differential equations’ systems,modeling of integration processes and macroeconomic policy.