Mexico (MEX) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Mexico-Armenia Trade: In 2022, Mexico exported $58.8M to Armenia. The main products that Mexico exported to Armenia were Cars ($40.6M), Medical Instruments ($3.71M), and Computers ($2.32M). Over the past 5 years the exports of Mexico to Armenia have increased at an annualized rate of 44.3%, from $9.39M in 2017 to $58.8M in 2022.

In 2022, Mexico did not export any services to Armenia.

Armenia-Mexico Trade: In 2022, Armenia exported $251k to Mexico. The main products that Armenia exported to Mexico were Jewellery ($243k), Cutting Blades ($7.28k), and Thermostats ($821). Over the past 5 years the exports of Armenia to Mexico have increased at an annualized rate of 4.37%, from $203k in 2017 to $251k in 2022.

In 2022, Armenia did not export any services to Mexico.

Comparison: In 2022, Mexico ranked 25 in the Economic Complexity Index (ECI 1.08), and 10 in total exports ($549B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mexico exported $58.8M to Armenia. The main products exported from Mexico to Armenia were Cars ($40.6M), Medical Instruments ($3.71M), and Computers ($2.32M). During the last 5 years the exports of Mexico to Armenia have increased at an annualized rate of 44.3%, from $9.39M in 2017 to $58.8M in 2022.

In 2017, Armenia exported $251k to Mexico. The main products exported from Armenia to Mexico were Jewellery ($243k), Cutting Blades ($7.28k), and Thermostats ($821). During the last 5 years the exports of Armenia to Mexico have increased at an annualized rate of 4.37%, from $203k in 2022 to $251k in 2017.

Exports from Mexico () to Armenia () (2022)

Exports from Armenia () to Mexico () (2022)

Latest Data

Trade between Mexico () and Armenia ()

Mexico Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$421B

Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Mexico than Armenia included United States ($421B), Canada ($22.2B), and China ($12.7B).

In 2022, countries that imported more from Armenia than Mexico included Russia ($2.36B), Georgia ($260M), and Iraq ($250M).

Difference in imports from Armenia () and Mexico () (2022)

Comparative Advantage Mexico - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mexico had a large net trade with Armenia in the exports of Transportation ($41.6M), Machines ($7.98M), and Instruments ($4.77M).

During 2017, Armenia had a large net trade with Mexico in the exports of Precious Metals ($243k), Metals ($7.28k), and Instruments ($821).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Armenia+$16.2MCars

Top Product Potential Armenia Mexico+$531kJewellery

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

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Historical Data

Bilateral Trade by Products

Exports from Mexico () to Armenia () (2022)

Exports from Armenia () to Mexico () (2022)

Latest Data

Trade between Mexico () and Armenia ()

Mexico Exports

Armenia Exports

Market Competitiveness

Difference in imports from Armenia () and Mexico () (2022)

Comparative Advantage Mexico - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Mexico () and Armenia () (2022)

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