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2023
Flag → Flag
Exports $78.2MRnk 122 / 220
2023
Flag → Flag
Top Product $8.61MRubber Tires
2023
Flag → Flag
Exports $71MRnk 16 / 133
2023
Flag → Flag
Top Product $61.3MCopper Ore
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
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GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
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GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
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GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
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GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
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GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
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GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

Spain-Armenia Trade: In 2023, Spain exported $78.2M to Armenia. The main products that Spain exported to Armenia were Rubber Tires ($8.61M), Unglazed Ceramics ($6.73M), and Tractors ($6.07M). Over the past 5 years the exports of Spain to Armenia have increased at an annualized rate of 15.1%, from $38.8M in 2018 to $78.2M in 2023.

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

Armenia-Spain Trade: In 2023, Armenia exported $71M to Spain. The main products that Armenia exported to Spain were Copper Ore ($61.3M), Aluminium Foil ($6.18M), and Ferroalloys ($1.02M). Over the past 5 years the exports of Armenia to Spain have increased at an annualized rate of 6.84%,  from $47.8M in 2018 to $71M in 2023.

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

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €5.83M and imported €237k from Armenia, resulting in a positive trade balance of €5.59M. Between November 2023 and November 2024 the exports of Spain have increased by €2.76M (90.3%) from €3.06M to €5.83M, while imports decreased by €-484k (-67.1%) from €721k to €237k.

Trade In November 2024, the top exports of Spain to Armenia were Jewellery (€700k), Utility Meters (€498k), Unglazed Ceramics (€404k), Non-Knit Women's Suits (€285k), and Rubber Tires (€242k). In November 2024 the top imports of Spain from Armenia were Copper Ore (€18.1M), Aluminium Foil (€716k), Ferroalloys (€434k), Non-Knit Men's Suits (€13.4k), and Non-Knit Women's Coats (€13k).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€3.48M), Castellón (€577k), Sevilla (€332k), Álava (€288k), and Madrid (€168k), while imports destinations were mainly La Rioja (€67.9k), Barcelona (€67.6k), Valencia (€29.6k), Madrid (€20.5k), and Murcia (€5.58k).

Growth In November 2024, the increase in Spain's year-by-year exports to Armenia was explained primarily by an increase in product exports in Utility Meters (€217k or 77.5%), Unglazed Ceramics (€190k or 88.9%), and Hard Liquor (€126k or 379%). In November 2024, the decrease in Spain's year-by-year imports  from Armenia was explained primarily by an decrease in product imports  in Copper Ore (€-5.02M or -21.7%), Non-Knit Men's Suits (€-3.46k or -20.5%), and Felt or Coated Fabric Garments (€-1.21k or -75.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€2.76M(90.3%)
IMPORT GROWTH (November 2023 - November 2024)€-484k(-67.1%)
MAIN EXPORTER (November 2024)Barcelona€3.48M

This section shows exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Spain over time.

To check Armenia and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Armenia and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $78.2M to Armenia. The main products exported from Spain to Armenia were Rubber Tires ($8.61M), Unglazed Ceramics ($6.73M), and Tractors ($6.07M). During the last 5 years the exports of Spain to Armenia have increased at an annualized rate of 15.1%, from $38.8M in 2018 to $78.2M in 2023.

In 2018, Armenia exported $71M to Spain. The main products exported from Armenia to Spain were Copper Ore ($61.3M), Aluminium Foil ($6.18M), and Ferroalloys ($1.02M). During the last 5 years the exports of Armenia to Spain have increased at an annualized rate of 6.84%, from $47.8M in 2023 to $71M in 2018.

Exports from Spain (Flag) to Armenia (Flag) (2023)

Exports from Armenia (Flag) to Spain (Flag) (2023)

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Spain than Armenia included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

In 2023, countries that imported more from Armenia than Spain included Russia ($3.38B), Georgia ($340M), and Botswana ($114M).

Difference in imports from Armenia (Flag) and Spain (Flag) (2023)

Comparative Advantage Spain - Armenia

Flow
Scale

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

During 2023, Spain had a large net trade with Armenia in the exports of Chemical Products ($13.4M), Machines ($10.6M), and Plastics and Rubbers ($10.6M).

During 2018, Armenia had a large net trade with Spain in the exports of Mineral Products ($61.3M), Metals ($7.2M), and Textiles ($639k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Armenia+$2.18MPackaged Medicaments
Top Product Potential Armenia Spain+$2.94MFerroalloys

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

Product Space of Spain (Flag) and Armenia (Flag) (2023)

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