Georgia (GEO) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Georgia-Armenia Trade: In 2023, Georgia exported $712M to Armenia. The main products that Georgia exported to Armenia were Cars ($299M), Large Construction Vehicles ($25.5M), and Hard Liquor ($21.6M). Over the past 5 years the exports of Georgia to Armenia have increased at an annualized rate of 30.1%, from $191M in 2018 to $712M in 2023.

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

Armenia-Georgia Trade: In 2023, Armenia exported $340M to Georgia. The main products that Armenia exported to Georgia were Copper Ore ($160M), Precious Metal Ore ($50.7M), and Rolled Tobacco ($27.2M). Over the past 5 years the exports of Armenia to Georgia have increased at an annualized rate of 0.6%, from $330M in 2018 to $340M in 2023.

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

Comparison: In 2023, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B). 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, Georgia exported $712M to Armenia. The main products exported from Georgia to Armenia were Cars ($299M), Large Construction Vehicles ($25.5M), and Hard Liquor ($21.6M). During the last 5 years the exports of Georgia to Armenia have increased at an annualized rate of 30.1%, from $191M in 2018 to $712M in 2023.

In 2018, Armenia exported $340M to Georgia. The main products exported from Armenia to Georgia were Copper Ore ($160M), Precious Metal Ore ($50.7M), and Rolled Tobacco ($27.2M). During the last 5 years the exports of Armenia to Georgia have increased at an annualized rate of 0.6%, from $330M in 2023 to $340M in 2018.

Exports from Georgia () to Armenia () (2023)

Exports from Armenia () to Georgia () (2023)

Latest Data

Trade between Georgia () and Armenia ()

Georgia Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationAzerbaijan$828M

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Georgia than Armenia included Azerbaijan ($828M), Turkey ($733M), and Kyrgyzstan ($519M).

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

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

Comparative Advantage Georgia - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Georgia had a large net trade with Armenia in the exports of Transportation ($352M), Machines ($90.3M), and Foodstuffs ($60M).

During 2018, Armenia had a large net trade with Georgia in the exports of Mineral Products ($223M), Foodstuffs ($42.4M), and Stone And Glass ($17.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Armenia+$771kRefined Petroleum

Top Product Potential Armenia Georgia+$3.59MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Armenia () (2023)

Exports from Armenia () to Georgia () (2023)

Latest Data

Trade between Georgia () and Armenia ()

Georgia Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Georgia - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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