2022
Exports
$28.8MWorld Rnk 95 / 223
Flag Rnk 21 / 96
2022
PRODUCT COMPLEXITY IN Pharmaceutical products
1.38Rnk 75 / 1025
2022
Imports
$191MWorld Rnk 124 / 226
Flag Rnk 9 / 96
2022
ECONOMIC COMPLEXITY of Armenia
0.00081Rnk 66 / 133

About

Exports In 2022, Armenia exported $28.8M in Pharmaceutical products, making it the 95th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 21st most exported product in Armenia. The main destination of Pharmaceutical products exports from Armenia are: Russia ($16M), Georgia ($3.74M), Uzbekistan ($2.47M), Belarus ($1.39M), and Moldova ($1.15M).

The fastest growing export markets for Pharmaceutical products of Armenia between 2021 and 2022 were Russia ($5.07M), Belarus ($1.29M), and United States ($377k).

Imports In 2022, Armenia imported $191M in Pharmaceutical products, becoming the 124th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 9th most imported product in Armenia. Armenia imports Pharmaceutical products primarily from: United States ($22.2M), Switzerland ($20.4M), Spain ($18.6M), Russia ($17.8M), and Germany ($12.7M).

The fastest growing import markets in Pharmaceutical products for Armenia between 2021 and 2022 were United States ($16.5M), Spain ($14.5M), and Switzerland ($13.4M).

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 Pharmaceutical products. 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)$28.8M
IMPORTS (2022)$191M
NET TRADE (2022)-$162M

In 2022, Armenia exported $28.8M in Pharmaceutical products. The main destinations of Armenia exports on Pharmaceutical products were Russia ($16M), Georgia ($3.74M), Uzbekistan ($2.47M), Belarus ($1.39M), and Moldova ($1.15M).

In 2022, Armenia imported $191M in Pharmaceutical products, mainly from United States ($22.2M), Switzerland ($20.4M), Spain ($18.6M), Russia ($17.8M), and Germany ($12.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Armenia WERE (2021 - 2022):
Russia$5.07M (46.3%)
Belarus$1.29M (1.36k%)
United States$377k (4k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Armenia WERE (2021 - 2022):
Poland-$1.02M (-99%)
Switzerland-$477k (-99.6%)
Iran-$281k (-81.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Armenia's main exporting competitors in Pharmaceutical products were:
In 2022, Armenia's main importing competitors in Pharmaceutical products were:

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALRussia+ $3.8M
TOP IMPORT POTENTIALGermany+ $12.7M

Pharmaceutical products’s highest export potential is Russia. With an export gap of $3.8M.   Pharmaceutical products’s highest import potential is Germany with an import gap of $12.7M.

See methodology.

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