Kuwait (KWT) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Kuwait-Armenia Trade: In 2023, Kuwait exported $81.2k to Armenia. The main products that Kuwait exported to Armenia were Cars ($78.1k), Flavored Water ($1.13k), and Other Rubber Products ($638). Over the past 5 years the exports of Kuwait to Armenia have decreased at an annualized rate of 28%, from $420k in 2018 to $81.2k in 2023.

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

Armenia-Kuwait Trade: In 2023, Armenia exported $2.3M to Kuwait. The main products that Armenia exported to Kuwait were Sheep and Goats ($1.24M), Non-Knit Women's Suits ($487k), and Non-Knit Women's Coats ($246k). Over the past 5 years the exports of Armenia to Kuwait have increased at an annualized rate of 41.9%, from $399k in 2018 to $2.3M in 2023.

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

Comparison: In 2023, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B). 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, Kuwait exported $81.2k to Armenia. The main products exported from Kuwait to Armenia were Cars ($78.1k), Flavored Water ($1.13k), and Other Rubber Products ($638). During the last 5 years the exports of Kuwait to Armenia have decreased at an annualized rate of 28%, from $420k in 2018 to $81.2k in 2023.

In 2018, Armenia exported $2.3M to Kuwait. The main products exported from Armenia to Kuwait were Sheep and Goats ($1.24M), Non-Knit Women's Suits ($487k), and Non-Knit Women's Coats ($246k). During the last 5 years the exports of Armenia to Kuwait have increased at an annualized rate of 41.9%, from $399k in 2023 to $2.3M in 2018.

Exports from Kuwait () to Armenia () (2023)

Exports from Armenia () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Armenia ()

Kuwait Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$17.4B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Kuwait than Armenia included China ($17.4B), India ($9.51B), and Japan ($9.13B).

In 2023, countries that imported more from Armenia than Kuwait included Russia ($3.38B), Hong Kong ($669M), and Georgia ($340M).

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

Comparative Advantage Kuwait - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Kuwait had a large net trade with Armenia in the exports of Transportation ($78.7k), Foodstuffs ($1.13k), and Plastics and Rubbers ($671).

During 2018, Armenia had a large net trade with Kuwait in the exports of Animal Products ($1.24M), Textiles ($947k), and Foodstuffs ($61k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Kuwait Armenia+$219kCars

Top Product Potential Armenia Kuwait+$254kNon-Knit Women'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 Kuwait and Armenia. This means that a dot/product with the flag of Kuwait indicates it has a comparative advantage over Armenia. Similarly, a dot/product with the flag of Armenia indicates it has a comparative advantage over Kuwait.

About

Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Armenia () (2023)

Exports from Armenia () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Armenia ()

Kuwait Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Kuwait - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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