Armenia (ARM) and Bolivia (BOL) Trade | The Observatory of Economic Complexity

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Armenia-Bolivia Trade: In 2023, Armenia exported $12.1k to Bolivia. The main products that Armenia exported to Bolivia were Excavation Machinery ($5.68k), Metal Lathes ($3.03k), and Liquid Pumps ($1.72k). Over the past 5 years the exports of Armenia to Bolivia have increased at an annualized rate of 26.1%, from $3.8k in 2018 to $12.1k in 2023.

In 2023, Armenia did not export any services to Bolivia.

Bolivia-Armenia Trade: In 2023, Bolivia exported $7.9k to Armenia. The main products that Bolivia exported to Armenia were Coconuts, Brazil Nuts, and Cashews ($5.39k), Buckwheat ($1.39k), and Other Oily Seeds ($1.12k). Over the past 5 years the exports of Bolivia to Armenia have increased at an annualized rate of 38.1%, from $599 in 2018 to $7.9k in 2023.

In 2023, Bolivia did not export any services to Armenia.

Comparison: In 2023, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $12.1k to Bolivia. The main products exported from Armenia to Bolivia were Excavation Machinery ($5.68k), Metal Lathes ($3.03k), and Liquid Pumps ($1.72k). During the last 5 years the exports of Armenia to Bolivia have increased at an annualized rate of 26.1%, from $3.8k in 2018 to $12.1k in 2023.

In 2018, Bolivia exported $7.9k to Armenia. The main products exported from Bolivia to Armenia were Coconuts, Brazil Nuts, and Cashews ($5.39k), Buckwheat ($1.39k), and Other Oily Seeds ($1.12k). During the last 5 years the exports of Bolivia to Armenia have increased at an annualized rate of 38.1%, from $599 in 2023 to $7.9k in 2018.

Exports from Armenia () to Bolivia () (2023)

Exports from Bolivia () to Armenia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Bolivia
Top DestinationBrazil$1.54B

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

In 2023, countries that imported more from Armenia than Bolivia included Russia ($3.38B), United Arab Emirates ($2.25B), and Hong Kong ($669M).

In 2023, countries that imported more from Bolivia than Armenia included Brazil ($1.54B), India ($1.33B), and Argentina ($1.15B).

Difference in imports from Bolivia () and Armenia () (2023)

Comparative Advantage Armenia - Bolivia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Bolivia in the exports of Machines ($10.5k), Textiles ($1.05k), and Plastics and Rubbers ($485).

During 2018, Bolivia had a large net trade with Armenia in the exports of Vegetable Products ($7.9k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Bolivia+$2.73kCars

Top Product Potential Bolivia Armenia+$45.9kCoconuts, Brazil Nuts, and Cashews

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 Bolivia. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over Bolivia. Similarly, a dot/product with the flag of Bolivia indicates it has a comparative advantage over Armenia.

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Bolivia () (2023)

Exports from Bolivia () to Armenia () (2023)

Market Competitiveness

Difference in imports from Bolivia () and Armenia () (2023)

Comparative Advantage Armenia - Bolivia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Bolivia () (2023)

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