Armenia (ARM) and Colombia (COL) Trade | The Observatory of Economic Complexity

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Armenia-Colombia Trade: In 2023, Armenia exported $35.1k to Colombia. The main products that Armenia exported to Colombia were Knit Men's Coats ($15.1k), Non-Knit Men's Coats ($11.5k), and Excavation Machinery ($3.76k). Over the past 5 years the exports of Armenia to Colombia have decreased at an annualized rate of 21.2%, from $116k in 2018 to $35.1k in 2023.

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

Colombia-Armenia Trade: In 2023, Colombia exported $2.41M to Armenia. The main products that Colombia exported to Armenia were Coffee ($754k), Medical Instruments ($683k), and Plastic Lids ($504k). Over the past 5 years the exports of Colombia to Armenia have increased at an annualized rate of 9.48%, from $1.53M in 2018 to $2.41M in 2023.

In 2023, Colombia 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, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $35.1k to Colombia. The main products exported from Armenia to Colombia were Knit Men's Coats ($15.1k), Non-Knit Men's Coats ($11.5k), and Excavation Machinery ($3.76k). During the last 5 years the exports of Armenia to Colombia have decreased at an annualized rate of 21.2%, from $116k in 2018 to $35.1k in 2023.

In 2018, Colombia exported $2.41M to Armenia. The main products exported from Colombia to Armenia were Coffee ($754k), Medical Instruments ($683k), and Plastic Lids ($504k). During the last 5 years the exports of Colombia to Armenia have increased at an annualized rate of 9.48%, from $1.53M in 2023 to $2.41M in 2018.

Exports from Armenia () to Colombia () (2023)

Exports from Colombia () to Armenia () (2023)

Latest Data

Trade between Armenia () and Colombia ()

Armenia Exports

Date

Colombia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Colombia
Top DestinationUnited States$14.8B

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

In 2023, countries that imported more from Armenia than Colombia included Russia ($3.38B), United Arab Emirates ($2.25B), and Georgia ($340M).

In 2023, countries that imported more from Colombia than Armenia included United States ($14.8B), Panama ($4.66B), and India ($2.51B).

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

Comparative Advantage Armenia - Colombia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Colombia in the exports of Textiles ($27.6k), Machines ($7.15k), and Chemical Products ($303).

During 2018, Colombia had a large net trade with Armenia in the exports of Vegetable Products ($1.08M), Instruments ($684k), and Plastics and Rubbers ($504k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Colombia+$186kCentrifuges

Top Product Potential Colombia Armenia+$557kCoffee

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

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Historical Data

Bilateral Trade by Products

Exports from Armenia () to Colombia () (2023)

Exports from Colombia () to Armenia () (2023)

Latest Data

Trade between Armenia () and Colombia ()

Armenia Exports

Colombia Exports

Market Competitiveness

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

Comparative Advantage Armenia - Colombia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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