2023
Flag  
GDP
$351BCURRENT US$
Rnk 43 / 195
2013-2023
Flag
GDP GROWTH
84.8%CURRENT US$
Rnk 24 / 195
2023
Flag
 GDP
$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH
117%CURRENT US$
Rnk 9 / 195
2023
Flag
GDP PC 
$18,404CURRENT US$
Rnk 66 / 195
2013-2023
Flag
GDP PC GROWTH
93.8%CURRENT US$
Rnk 11 / 195
2023
Flag
GDP PC
$8,053CURRENT US$
Rnk 96 / 196
2013-2023
Flag
GDP PC GROWTH
119%CURRENT US$
Rnk 4 / 195

About

Romania-Armenia Trade: In 2023, Romania exported $30.6M to Armenia. The main products that Romania exported to Armenia were Refined Petroleum ($5.05M), Non-Knit Men's Suits ($1.86M), and Soybean Meal ($1.68M). Over the past 5 years the exports of Romania to Armenia have increased at an annualized rate of 7.17%, from $21.7M in 2018 to $30.6M in 2023.

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

Armenia-Romania Trade: In 2023, Armenia exported $6.64M to Romania. The main products that Armenia exported to Romania were Plastic Pipes ($5.61M), Plastic Building Materials ($321k), and Hard Liquor ($226k). Over the past 5 years the exports of Armenia to Romania have decreased at an annualized rate of 34.5%,  from $55M in 2018 to $6.64M in 2023.

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

Comparison: In 2023,  Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Historical Data

Latest Data

Trade between Romania (Flag) and Armenia (Flag)

Romania Exports

Armenia Exports

Market Competitiveness

Color
Romania
Top Destination
Germany$19.9B
Armenia
Top Destination
Russia$3.38B

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

In 2023, countries that imported more from Romania than Armenia included Germany ($19.9B), Italy ($10.2B), and France ($6.5B).

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

Difference in imports from Armenia (Flag) and Romania (Flag) (2023)

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Romania Armenia+$3.59MRefined Petroleum
Top Product Potential Armenia Romania+$336kHard Liquor

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

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

Product Space of Romania (Flag) and Armenia (Flag) (NaN)

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