Bosnia and Herzegovina (BIH) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Bosnia and Herzegovina-Armenia Trade: In 2023, Bosnia and Herzegovina exported $1.76M to Armenia. The main products that Bosnia and Herzegovina exported to Armenia were Seats ($963k), Packaged Medicaments ($318k), and Other Domestic Electric Housewares ($107k). Over the past 5 years the exports of Bosnia and Herzegovina to Armenia have increased at an annualized rate of 25.9%, from $556k in 2018 to $1.76M in 2023.

In 2023, Bosnia and Herzegovina did not export any services to Armenia.

Armenia-Bosnia and Herzegovina Trade: In 2023, Armenia exported $13.1k to Bosnia and Herzegovina. The main products that Armenia exported to Bosnia and Herzegovina were Ferroalloys ($9.8k), Non-Knit Women's Suits ($2.34k), and Non-Knit Women's Coats ($623). Over the past 5 years the exports of Armenia to Bosnia and Herzegovina have increased at an annualized rate of 12.1%, from $7.41k in 2018 to $13.1k in 2023.

In 2023, Armenia did not export any services to Bosnia and Herzegovina.

Comparison: In 2023, Bosnia and Herzegovina ranked 37 in the Economic Complexity Index (ECI 0.7), and 105 in total exports ($9.67B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bosnia and Herzegovina exported $1.76M to Armenia. The main products exported from Bosnia and Herzegovina to Armenia were Seats ($963k), Packaged Medicaments ($318k), and Other Domestic Electric Housewares ($107k). During the last 5 years the exports of Bosnia and Herzegovina to Armenia have increased at an annualized rate of 25.9%, from $556k in 2018 to $1.76M in 2023.

In 2018, Armenia exported $13.1k to Bosnia and Herzegovina. The main products exported from Armenia to Bosnia and Herzegovina were Ferroalloys ($9.8k), Non-Knit Women's Suits ($2.34k), and Non-Knit Women's Coats ($623). During the last 5 years the exports of Armenia to Bosnia and Herzegovina have increased at an annualized rate of 12.1%, from $7.41k in 2023 to $13.1k in 2018.

Exports from Bosnia and Herzegovina () to Armenia () (2023)

Exports from Armenia () to Bosnia and Herzegovina () (2023)

Latest Data

Trade between Bosnia and Herzegovina () and Armenia ()

Bosnia and Herzegovina Exports

Date

Armenia Exports

Date

May 2011

Apr 2011

Dec 2010

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bosnia and Herzegovina
Top DestinationGermany$1.48B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Bosnia and Herzegovina than Armenia included Croatia ($1.39B), Germany ($1.48B), and Serbia ($1.18B).

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

Difference in imports from Armenia () and Bosnia and Herzegovina () (2023)

Comparative Advantage Bosnia and Herzegovina - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bosnia and Herzegovina had a large net trade with Armenia in the exports of Miscellaneous ($993k), Chemical Products ($318k), and Machines ($229k).

During 2018, Armenia had a large net trade with Bosnia and Herzegovina in the exports of Metals ($9.8k), Textiles ($2.97k), and Machines ($311).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bosnia and Herzegovina Armenia+$170kPackaged Medicaments

Top Product Potential Armenia Bosnia and Herzegovina+$65.7kNon-Knit Men's Suits

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

About

Historical Data

Bilateral Trade by Products

Exports from Bosnia and Herzegovina () to Armenia () (2023)

Exports from Armenia () to Bosnia and Herzegovina () (2023)

Latest Data

Trade between Bosnia and Herzegovina () and Armenia ()

Bosnia and Herzegovina Exports

Armenia Exports

Market Competitiveness

Difference in imports from Armenia () and Bosnia and Herzegovina () (2023)

Comparative Advantage Bosnia and Herzegovina - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Bosnia and Herzegovina () and Armenia () (2023)

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