2022
Flag  
GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
 GDP
$185BCURRENT US$
Rnk 56 / 186
2012-2022
Flag
GDP GROWTH
6.04%CURRENT US$
Rnk 152 / 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
$43,233CURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP PC GROWTH
-15.7%CURRENT US$
Rnk 166 / 186

About

Armenia-Kuwait Trade: In 2022, Armenia exported $5.32M to Kuwait. The main products that Armenia exported to Kuwait were Sheep and Goats ($4.12M), Non-Knit Women's Suits ($241k), and Non-Knit Women's Coats ($214k). Over the past 5 years the exports of Armenia to Kuwait have increased at an annualized rate of 82.1%, from $265k in 2017 to $5.32M in 2022.

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

Kuwait-Armenia Trade: In 2022, Kuwait exported $174k to Armenia. The main products that Kuwait exported to Armenia were Glass Bottles ($131k), Cars ($42.8k), and Other Rubber Products ($62). Over the past 5 years the exports of Kuwait to Armenia have increased at an annualized rate of 153%,  from $1.67k in 2017 to $174k in 2022.

In 2022, Kuwait 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, Kuwait ranked 46 in the Economic Complexity Index (ECI 0.44), and 42 in total exports ($101B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Armenia exported $5.32M to Kuwait. The main products exported from Armenia to Kuwait were Sheep and Goats ($4.12M), Non-Knit Women's Suits ($241k), and Non-Knit Women's Coats ($214k). During the last 5 years the exports of Armenia to Kuwait have increased at an annualized rate of 82.1%, from $265k in 2017 to $5.32M in 2022.

In 2017, Kuwait exported $174k to Armenia. The main products exported from Kuwait to Armenia were Glass Bottles ($131k), Cars ($42.8k), and Other Rubber Products ($62). During the last 5 years the exports of Kuwait to Armenia have increased at an annualized rate of 153%, from $1.67k in 2022 to $174k in 2017.

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

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

Latest Data

Trade between Armenia (Flag) and Kuwait (Flag)

Armenia Exports

Kuwait Exports

Market Competitiveness

Color
Armenia
Top Destination
Russia$2.36B
Kuwait
Top Destination
China$24.3B

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

In 2022, countries that imported more from Armenia than Kuwait included Russia ($2.36B), Georgia ($260M), and Switzerland ($257M).

In 2022, countries that imported more from Kuwait than Armenia included China ($24.3B), India ($15B), and South Korea ($10.8B).

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

Comparative Advantage Armenia - Kuwait

Flow
Scale

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

During 2022, Armenia had a large net trade with Kuwait in the exports of Animal Products ($4.17M), Textiles ($1M), and Foodstuffs ($110k).

During 2017, Kuwait had a large net trade with Armenia in the exports of Stone And Glass ($131k), Transportation ($42.8k), and Plastics and Rubbers ($62).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Armenia Kuwait+$254kNon-Knit Women's Suits
Top Product Potential Kuwait Armenia+$219kCars

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

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

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