Montenegro (MNE) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Montenegro-Armenia Trade: In 2022, Montenegro exported $167k to Armenia. The main products that Montenegro exported to Armenia were Packaged Medicaments ($166k), Trunks and Cases ($781), and Knit Sweaters ($280). Over the past 5 years the exports of Montenegro to Armenia have increased at an annualized rate of 33.1%, from $40.1k in 2017 to $167k in 2022.

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

Armenia-Montenegro Trade: In 2022, Armenia exported $187k to Montenegro. The main products that Armenia exported to Montenegro were Machinery Having Individual Functions ($69.5k), Hard Liquor ($30.9k), and Washing and Bottling Machines ($28.7k). Over the past 5 years the exports of Armenia to Montenegro have increased at an annualized rate of 63.9%, from $15.8k in 2017 to $187k in 2022.

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

Comparison In 2022, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index. 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, Montenegro exported $167k to Armenia. The main products exported from Montenegro to Armenia were Packaged Medicaments ($166k), Trunks and Cases ($781), and Knit Sweaters ($280). During the last 5 years the exports of Montenegro to Armenia have increased at an annualized rate of 33.1%, from $40.1k in 2017 to $167k in 2022.

In 2017, Armenia exported $187k to Montenegro. The main products exported from Armenia to Montenegro were Machinery Having Individual Functions ($69.5k), Hard Liquor ($30.9k), and Washing and Bottling Machines ($28.7k). During the last 5 years the exports of Armenia to Montenegro have increased at an annualized rate of 63.9%, from $15.8k in 2022 to $187k in 2017.

Exports from Montenegro () to Armenia () (2022)

Exports from Armenia () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Armenia ()

Montenegro Exports

Date

Armenia Exports

Date

Feb 2020

Mar 2018

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Montenegro
Top DestinationSouth Korea$321M

Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Montenegro than Armenia included South Korea ($321M), Serbia ($159M), and Bosnia and Herzegovina ($95.5M).

In 2022, countries that imported more from Armenia than Montenegro included Russia ($2.36B), United Arab Emirates ($535M), and China ($420M).

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

Comparative Advantage Montenegro - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Montenegro had a large net trade with Armenia in the exports of Chemical Products ($166k), Animal Hides ($781), and Textiles ($280).

During 2017, Armenia had a large net trade with Montenegro in the exports of Machines ($130k), Foodstuffs ($31.8k), and Textiles ($12.6k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Montenegro and Armenia. This means that a dot/product with the flag of Montenegro indicates it has a comparative advantage over Armenia. Similarly, a dot/product with the flag of Armenia indicates it has a comparative advantage over Montenegro.

About

Historical Data

Bilateral Trade by Products

Exports from Montenegro () to Armenia () (2022)

Exports from Armenia () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Armenia ()

Montenegro Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Montenegro - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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