2022
Flag  
GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
 GDP
$115BCURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP GROWTH
30.9%CURRENT US$
Rnk 98 / 186
2022
Flag
GDP PC 
$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH
92.5%CURRENT US$
Rnk 10 / 186
2022
Flag
GDP PC
$6,391CURRENT US$
Rnk 101 / 186
2012-2022
Flag
GDP PC GROWTH
12.6%CURRENT US$
Rnk 106 / 186

About

Armenia-Ecuador Trade: In 2022, Armenia exported $219k to Ecuador. The main products that Armenia exported to Ecuador were Mixed Mineral or Chemical Fertilizers ($215k), Non-Knit Men's Suits ($1.95k), and Non-Knit Men's Coats ($1.46k). Over the past 6 years the exports of Armenia to Ecuador have increased at an annualized rate of 59.2%, from $13.5k in 2016 to $219k in 2022.

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

Ecuador-Armenia Trade: In 2022, Ecuador exported $7.37M to Armenia. The main products that Ecuador exported to Armenia were Cut Flowers ($3.88M), Bananas ($2.12M), and Crustaceans ($937k). Over the past 6 years the exports of Ecuador to Armenia have increased at an annualized rate of 55.3%,  from $815k in 2016 to $7.37M in 2022.

In 2022, Ecuador 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, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Armenia exported $219k to Ecuador. The main products exported from Armenia to Ecuador were Mixed Mineral or Chemical Fertilizers ($215k), Non-Knit Men's Suits ($1.95k), and Non-Knit Men's Coats ($1.46k). During the last 6 years the exports of Armenia to Ecuador have increased at an annualized rate of 59.2%, from $13.5k in 2016 to $219k in 2022.

In 2017, Ecuador exported $7.37M to Armenia. The main products exported from Ecuador to Armenia were Cut Flowers ($3.88M), Bananas ($2.12M), and Crustaceans ($937k). During the last 5 years the exports of Ecuador to Armenia have increased at an annualized rate of 55.3%, from $815k in 2022 to $7.37M in 2017.

Exports from Armenia (Flag) to Ecuador (Flag) (2022)

Exports from Ecuador (Flag) to Armenia (Flag) (2022)

Latest Data

Trade between Armenia (Flag) and Ecuador (Flag)

Ecuador Exports

Market Competitiveness

Color
Armenia
Top Destination
Russia$2.36B
Ecuador
Top Destination
United States$9.86B

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

In 2022, countries that imported more from Armenia than Ecuador included Russia ($2.36B), United Arab Emirates ($535M), and Georgia ($260M).

In 2022, countries that imported more from Ecuador than Armenia included United States ($9.86B), China ($6.17B), and Panama ($4.97B).

Difference in imports from Ecuador (Flag) and Armenia (Flag) (2022)

Comparative Advantage Armenia - Ecuador

Flow
Scale

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

During 2022, Armenia had a large net trade with Ecuador in the exports of Chemical Products ($215k) and Textiles ($4.72k).

During 2017, Ecuador had a large net trade with Armenia in the exports of Vegetable Products ($6.01M), Animal Products ($937k), and Foodstuffs ($235k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Armenia Ecuador+$2.92kCars
Top Product Potential Ecuador Armenia+$659kCrustaceans

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

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

Product Space of Armenia (Flag) and Ecuador (Flag) (2022)

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