Armenia (ARM) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Armenia-Venezuela Trade: In 2012, Armenia exported $161k to Venezuela. The main products that Armenia exported to Venezuela were N/A. Over the past 8 years the exports of Armenia to Venezuela have decreased at an annualized rate of 3.69%, from $217k in 2004 to $161k in 2012.

In 2012, Armenia did not export any services to Venezuela.

Venezuela-Armenia Trade: In 2012, Venezuela exported $4.24k to Armenia. The main products that Venezuela exported to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). Over the past 8 years the exports of Venezuela to Armenia have increased at an annualized rate of 13.8%, from $1.96k in 2004 to $4.24k in 2012.

In 2012, Venezuela 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, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2012, Armenia exported $161k to Venezuela. There were not main exports from Armenia to Venezuela in 2012. During the last 8 years the exports of Armenia to Venezuela have decreased at an annualized rate of 3.69%, from $217k in 2004 to $161k in 2012.

In 2017, Venezuela exported $4.24k to Armenia. The main products exported from Venezuela to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). During the last 5 years the exports of Venezuela to Armenia have increased at an annualized rate of 13.8%, from $1.96k in 2022 to $4.24k in 2017.

Exports from Armenia () to Venezuela () (2022)

Exports from Venezuela () to Armenia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Venezuela
Top DestinationChina$703M

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

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

In 2022, countries that imported more from Venezuela than Armenia included Turkey ($597M), Spain ($518M), and Brazil ($361M).

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

Comparative Advantage Armenia - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2012, Armenia had a large net trade with Venezuela in the exports of .

During 2017, Venezuela had a large net trade with Armenia in the exports of Machines ($2.17k), Vegetable Products ($1.21k), and Stone And Glass ($439).

Potential Exports

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

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Historical Data

Bilateral Trade by Products

Exports from Armenia () to Venezuela () (2022)

Exports from Venezuela () to Armenia () (2022)

Market Competitiveness

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

Comparative Advantage Armenia - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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