Romania (ROU) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Romania-Armenia Trade: In 2022, Romania exported $24.7M to Armenia. The main products that Romania exported to Armenia were Soybean Meal ($3.28M), Planes, Helicopters, and/or Spacecraft ($3M), and Refined Petroleum ($1.91M). Over the past 5 years the exports of Romania to Armenia have increased at an annualized rate of 24.8%, from $8.14M in 2017 to $24.7M in 2022.

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

Armenia-Romania Trade: In 2022, Armenia exported $233k to Romania. The main products that Armenia exported to Romania were Hard Liquor ($105k), Rolled Tobacco ($45.1k), and Building Stone ($16.7k). Over the past 5 years the exports of Armenia to Romania have decreased at an annualized rate of 42.6%, from $3.75M in 2017 to $233k in 2022.

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

Comparison: In 2022, Romania ranked 26 in the Economic Complexity Index (ECI 1.03), and 43 in total exports ($99.5B). 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, Romania exported $24.7M to Armenia. The main products exported from Romania to Armenia were Soybean Meal ($3.28M), Planes, Helicopters, and/or Spacecraft ($3M), and Refined Petroleum ($1.91M). During the last 5 years the exports of Romania to Armenia have increased at an annualized rate of 24.8%, from $8.14M in 2017 to $24.7M in 2022.

In 2017, Armenia exported $233k to Romania. The main products exported from Armenia to Romania were Hard Liquor ($105k), Rolled Tobacco ($45.1k), and Building Stone ($16.7k). During the last 5 years the exports of Armenia to Romania have decreased at an annualized rate of 42.6%, from $3.75M in 2022 to $233k in 2017.

Exports from Romania () to Armenia () (2022)

Exports from Armenia () to Romania () (2022)

Latest Data

Trade between Romania () and Armenia ()

Romania Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Romania
Top DestinationGermany$18.8B

Armenia
Top DestinationRussia$2.36B

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 2022, countries that imported more from Romania than Armenia included Germany ($18.8B), Italy ($9.55B), and Hungary ($6.75B).

In 2022, countries that imported more from Armenia than Romania included Russia ($2.36B), Iraq ($250M), and Belarus ($74.6M).

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

Comparative Advantage Romania - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Romania had a large net trade with Armenia in the exports of Chemical Products ($5.63M), Foodstuffs ($5.03M), and Machines ($3.74M).

During 2017, Armenia had a large net trade with Romania in the exports of Foodstuffs ($150k), Machines ($21k), and Stone And Glass ($19.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Year

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.

About

Historical Data

Bilateral Trade by Products

Exports from Romania () to Armenia () (2022)

Exports from Armenia () to Romania () (2022)

Latest Data

Trade between Romania () and Armenia ()

Romania Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Romania - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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