Overview: This page contains the latest international trade data for Armenia, including service trade data, and tariffs. In 2018 Armenia was the number 135 economy in the world in terms of GDP (current US$), the number 126 in total exports, the number 132 in total imports, and the number 78 most complex economy according to the Economic Complexity Index (ECI). In 2018, Armenia exported $2.85B and imported $4.8B, resulting in a negative trade balance of -$1.95B. In 2018, Armenia's exports per capita were $964 and its imports per capita were $1.63k.
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.
In 2018 Armenia imported $4.8B, making it the number 132 trade destination in the world. During the last five reported years the imports of Armenia changed by $441M from $4.36B in 2013 to $4.8B in 2018.
In 2018, Armenia exported $1.65B worth of services. The top services exported by Armenia in 2018 were Personal travel ($1.08B), Construction abroad ($190M), Business travel ($126M), Air transport ($47M), and Miscellaneous business, professional, and technical services ($45.9M).
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).
This 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.
*The tariffs applied to imports for Armenia are:120: Customs Union of the member states of the Eurasian Economic Union: Belarus, Kazakhstan and Russia, enlarged in 2015 to include Armenia and Kyrgyzstan136: Most Favoured Nation duty rate treatement155: Preferential tariff among Developing Countries190: Preferential tariff for Commonwealth of Independent States (CIS) countries254: Preferential tariff for Least Developed Countries333: Preferential tariff for Vietnam
During 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.
Armenia 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.
The 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.
The 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.
The 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.
Armenia
