Finland (FIN) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Finland-Armenia Trade: In 2023, Finland exported $57.8M to Armenia. The main products that Finland exported to Armenia were Kaolin Coated Paper ($23.5M), Butter ($4.62M), and Motor vehicles; parts and accessories (8701 to 8705) ($3.32M). Over the past 5 years the exports of Finland to Armenia have increased at an annualized rate of 11.9%, from $32.9M in 2018 to $57.8M in 2023.

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

Armenia-Finland Trade: In 2023, Armenia exported $655k to Finland. The main products that Armenia exported to Finland were Low-voltage Protection Equipment ($251k), Electric Heaters ($192k), and Plastic Pipes ($56.4k). Over the past 5 years the exports of Armenia to Finland have increased at an annualized rate of 3.65%, from $343k in 2018 to $655k in 2023.

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

Comparison: In 2023, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). 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, Finland exported $57.8M to Armenia. The main products exported from Finland to Armenia were Kaolin Coated Paper ($23.5M), Butter ($4.62M), and Motor vehicles; parts and accessories (8701 to 8705) ($3.32M). During the last 5 years the exports of Finland to Armenia have increased at an annualized rate of 11.9%, from $32.9M in 2018 to $57.8M in 2023.

In 2018, Armenia exported $655k to Finland. The main products exported from Armenia to Finland were Low-voltage Protection Equipment ($251k), Electric Heaters ($192k), and Plastic Pipes ($56.4k). During the last 5 years the exports of Armenia to Finland have increased at an annualized rate of 3.65%, from $343k in 2023 to $655k in 2018.

Exports from Finland () to Armenia () (2023)

Exports from Armenia () to Finland () (2023)

Latest Data

Trade between Finland () and Armenia ()

Finland Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Finland than Armenia included United States ($9.68B), Germany ($9.26B), and Sweden ($8.13B).

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

Difference in imports from Armenia () and Finland () (2023)

Comparative Advantage Finland - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Armenia in the exports of Paper Goods ($24M), Machines ($8.65M), and Transportation ($6.76M).

During 2018, Armenia had a large net trade with Finland in the exports of Machines ($471k), Textiles ($62.2k), and Plastics and Rubbers ($56.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Armenia+$1.51MCars

Top Product Potential Armenia Finland+$151kNon-Knit Women's Coats

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Armenia () (2023)

Exports from Armenia () to Finland () (2023)

Latest Data

Trade between Finland () and Armenia ()

Finland Exports

Armenia Exports

Market Competitiveness

Difference in imports from Armenia () and Finland () (2023)

Comparative Advantage Finland - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Finland () and Armenia () (2023)

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