Armenia
Product Exports (2018): $2.85B, Rank 126 of 222
Service Exports (2018): $1.65B, Rank 61 of 88
Service Imports (2018): $1.83B, Rank 61 of 88
Product Trade
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2018): Copper Ore, $693M
Top Destination (2018): N/A, N/A
In 2018 Armenia exported a total of $2.85B, making it the number 126 exporter in the world. During the last five reported years the exports of Armenia have changed by $1.16B from $1.69B in 2013 to $2.85B in 2018.
The most recent exports are led by Copper Ore ($693M), Gold ($344M), Rolled Tobacco ($266M), Ferroalloys ($196M), and Hard Liquor ($195M). The most common destination for the exports of Armenia are N/A.
Yearly Imports
#permalink to sectionTop Import (N/A): Petroleum Gas, $340M
Top Origin (N/A): Russia, $1.27B
In N/A Armenia imported N/A, making it the number N/A trade destination in the world. During the last five reported years the imports of Armenia changed by N/A from N/A in 2013 to N/A in N/A.
The most recent imports of Armenia are led by Petroleum Gas ($340M), Refined Petroleum ($227M), Diamonds ($175M), Cars ($174M), and Broadcasting Equipment ($140M). The most common import partners for Armenia are Russia ($1.27B), China ($482M), Georgia ($267M), Iran ($253M), and Germany ($250M).
Monthly Trade
#permalink to sectionMarket Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionArmenia Exports Services (2018): $1.65B
Armenia Imports Services (2018): $1.83B
In 2018, Armenia exported $1.65B worth of services. The top services exported by Armenia in 2018 were N/A.
The top services imported by Armenia in 2018 were Personal travel ($1.15B), Business travel ($257M), Air transport ($121M), Miscellaneous business, professional, and technical services ($107M), and Sea transport ($70.2M).
Forecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows forecasts for total product exports and imports for Armenia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
Tariffs
#permalink to sectionTariffs by Product
#permalink to sectionThe top product import tariffs by their MFN Ad Valorem value for Armenia are Ethyl alcohol and other spirits, denatured (100%) and Undenatured ethyl alcohol > 80% by volume (100%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Armenia are:
Economic Complexity
#permalink to sectionEconomic Complexity Ranking
#permalink to sectionDuring the last 11 years Armenia's economy has become relatively less complex, moving from the 42nd to the 78th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Most Specialized Products by RCA Index
#permalink to sectionArmenia has a high level of specialization in Watch Cases and Parts (95.1), Copper Ore (69.7), Rolled Tobacco (63.6), Aluminium Foil (61.1), and Hard Liquor (38.6). Specialization is measured using RCA, an index that takes the ratio between Armenia observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Armenia according to the product complexity index (PCI) are Equipment for soldering, brazing or welding (1.2), Invalid carriages, wheelchairs, including motorized (0.84), Electrical insulators of any material (0.81), Watch cases and parts thereof (0.81), and Lamps and lighting fittings, illuminated signs, etc (0.76). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Armenia according to the relatedness index, are Knit Women's Suits (0.15), Knit Men's Shirts (0.15), Knit T-shirts (0.15), Knit Women's Shirts (0.14), and Non-Knit Active Wear (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Armenia is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
