Armenia (ARM) and Austria (AUT) Trade | The Observatory of Economic Complexity

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Armenia-Austria Trade: In 2022, Armenia exported $2.21M to Austria. The main products that Armenia exported to Austria were Aluminium Foil ($608k), Knit Women's Coats ($252k), and Light Rubberized Knitted Fabric ($241k). Over the past 5 years the exports of Armenia to Austria have decreased at an annualized rate of 15.9%, from $5.25M in 2017 to $2.21M in 2022.

In 2022, Armenia did not export any services to Austria.

Austria-Armenia Trade: In 2022, Austria exported $37.9M to Armenia. The main products that Austria exported to Armenia were Lifting Machinery ($6.88M), Cigarette Paper ($4.12M), and Flavored Water ($1.89M). Over the past 5 years the exports of Austria to Armenia have increased at an annualized rate of 10.4%, from $23.1M in 2017 to $37.9M in 2022.

In 2022, Austria did not export any services to Armenia.

Comparison: In 2022, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B). That same year, Austria ranked 8 in the Economic Complexity Index (ECI 1.5), and 32 in total exports ($209B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Armenia exported $2.21M to Austria. The main products exported from Armenia to Austria were Aluminium Foil ($608k), Knit Women's Coats ($252k), and Light Rubberized Knitted Fabric ($241k). During the last 5 years the exports of Armenia to Austria have decreased at an annualized rate of 15.9%, from $5.25M in 2017 to $2.21M in 2022.

In 2017, Austria exported $37.9M to Armenia. The main products exported from Austria to Armenia were Lifting Machinery ($6.88M), Cigarette Paper ($4.12M), and Flavored Water ($1.89M). During the last 5 years the exports of Austria to Armenia have increased at an annualized rate of 10.4%, from $23.1M in 2022 to $37.9M in 2017.

Exports from Armenia () to Austria () (2022)

Exports from Austria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Austria ()

Armenia Exports

Date

Austria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Austria
Top DestinationGermany$57.7B

This map shows whether countries import more from Armenia or Austria. Each country is colored based on the difference in imports they receive from Armenia and Austria or the difference in the growth in imports.

In 2022, countries that imported more from Armenia than Austria included Russia ($2.36B), Georgia ($260M), and Iraq ($250M).

In 2022, countries that imported more from Austria than Armenia included Germany ($57.7B), United States ($14.4B), and Italy ($13.6B).

Difference in imports from Austria () and Armenia () (2022)

Comparative Advantage Armenia - Austria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Armenia and Austria by product, considering products traded by both, Armenia and Austria.

During 2022, Armenia had a large net trade with Austria in the exports of Textiles ($867k), Metals ($609k), and Transportation ($235k).

During 2017, Austria had a large net trade with Armenia in the exports of Machines ($11.8M), Paper Goods ($4.84M), and Foodstuffs ($4.57M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Austria+$978kCars

Top Product Potential Austria Armenia+$4.76MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Armenia and Austria. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over Austria. Similarly, a dot/product with the flag of Austria indicates it has a comparative advantage over Armenia.

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Austria () (2022)

Exports from Austria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Austria ()

Armenia Exports

Austria Exports

Market Competitiveness

Difference in imports from Austria () and Armenia () (2022)

Comparative Advantage Armenia - Austria

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Austria () (2022)

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