2022
Exports
$796kWorld Rnk 70 / 165
Flag Rnk 281 / 945
2022
PRODUCT COMPLEXITY IN Forging Machines
1.5Rnk 53 / 1025
2022
Imports
$4.19MWorld Rnk 97 / 211
Flag Rnk 311 / 1142
2022
ECONOMIC COMPLEXITY of Armenia
0.00081Rnk 66 / 133

About

Exports In 2022, Armenia exported $796k in Forging Machines, making it the 70th largest exporter of Forging Machines in the world. At the same year, Forging Machines was the 281st most exported product in Armenia. The main destination of Forging Machines exports from Armenia are: Russia ($403k), Iran ($374k), and Italy ($18.4k).

The fastest growing export markets for Forging Machines of Armenia between 2021 and 2022 were Russia ($191k), Iran ($96.5k), and Italy ($18.4k).

Imports In 2022, Armenia imported $4.19M in Forging Machines, becoming the 97th largest importer of Forging Machines in the world. At the same year, Forging Machines was the 311th most imported product in Armenia. Armenia imports Forging Machines primarily from: China ($1.96M), Italy ($502k), Iran ($464k), Turkey ($307k), and Netherlands ($282k).

The fastest growing import markets in Forging Machines for Armenia between 2021 and 2022 were China ($822k), Italy ($483k), and Iran ($397k).

Latest Trends

Jul 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Forging Machines. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$796k
IMPORTS (2022)$4.19M
NET TRADE (2022)-$3.4M

In 2022, Armenia exported $796k in Forging Machines. The main destinations of Armenia exports on Forging Machines were Russia ($403k), Iran ($374k), and Italy ($18.4k).

In 2022, Armenia imported $4.19M in Forging Machines, mainly from China ($1.96M), Italy ($502k), Iran ($464k), Turkey ($307k), and Netherlands ($282k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Forging Machines EXPORT MARKETS FOR Armenia WERE (2021 - 2022):
Russia$191k (89.9%)
Iran$96.5k (34.7%)
Italy$18.4k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forging Machines BY Armenia WERE (2021 - 2022):
India-$82k (-100%)
Georgia-$750 (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Armenia's main exporting competitors in Forging Machines were:
China $1.72B
Italy $1.2B
Germany $1.02B
In 2022, Armenia's main importing competitors in Forging Machines were:

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Trade Value of Forging Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALRussia+ $91.1k
TOP IMPORT POTENTIALChina+ $308k

Forging Machines’s highest export potential is Russia. With an export gap of $91.1k.   Forging Machines’s highest import potential is China with an import gap of $308k.

See methodology.

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