Thailand (THA) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Thailand-Armenia Trade: In 2023, Thailand exported $70.3M to Armenia. The main products that Thailand exported to Armenia were Precious Stones ($10.1M), Medical Instruments ($6.43M), and Jewellery ($6.12M). Over the past 5 years the exports of Thailand to Armenia have increased at an annualized rate of 25.4%, from $22.7M in 2018 to $70.3M in 2023.

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

Armenia-Thailand Trade: In 2023, Armenia exported $11.3M to Thailand. The main products that Armenia exported to Thailand were Silver ($9.22M), Jewellery ($862k), and Raw Aluminium ($408k). Over the past 5 years the exports of Armenia to Thailand have increased at an annualized rate of 37.3%, from $1.23M in 2018 to $11.3M in 2023.

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

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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, Thailand exported $70.3M to Armenia. The main products exported from Thailand to Armenia were Precious Stones ($10.1M), Medical Instruments ($6.43M), and Jewellery ($6.12M). During the last 5 years the exports of Thailand to Armenia have increased at an annualized rate of 25.4%, from $22.7M in 2018 to $70.3M in 2023.

In 2018, Armenia exported $11.3M to Thailand. The main products exported from Armenia to Thailand were Silver ($9.22M), Jewellery ($862k), and Raw Aluminium ($408k). During the last 5 years the exports of Armenia to Thailand have increased at an annualized rate of 37.3%, from $1.23M in 2023 to $11.3M in 2018.

Exports from Thailand () to Armenia () (2023)

Exports from Armenia () to Thailand () (2023)

Latest Data

Trade between Thailand () and Armenia ()

Thailand Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Thailand than Armenia included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

In 2023, countries that imported more from Armenia than Thailand included Russia ($3.38B), Georgia ($340M), and Botswana ($114M).

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

Comparative Advantage Thailand - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Armenia in the exports of Precious Metals ($17.9M), Machines ($17.4M), and Transportation ($10.9M).

During 2018, Armenia had a large net trade with Thailand in the exports of Precious Metals ($10.2M), Metals ($613k), and Textiles ($419k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Armenia+$6.64MCars

Top Product Potential Armenia Thailand+$650kRaw Aluminium

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

About

Historical Data

Bilateral Trade by Products

Exports from Thailand () to Armenia () (2023)

Exports from Armenia () to Thailand () (2023)

Latest Data

Trade between Thailand () and Armenia ()

Thailand Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Thailand - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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