Armenia (ARM) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Armenia-Belgium Trade: In 2023, Armenia exported $95.9M to Belgium. The main products that Armenia exported to Belgium were Molybdenum Ore ($50.8M), Diamonds ($23.2M), and Zinc Ore ($12.3M). Over the past 5 years the exports of Armenia to Belgium have increased at an annualized rate of 14.3%, from $49.2M in 2018 to $95.9M in 2023.

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

Belgium-Armenia Trade: In 2023, Belgium exported $67M to Armenia. The main products that Belgium exported to Armenia were Tractors ($11M), Non-Retail Artificial Filament Yarn ($4.46M), and Diamonds ($3.94M). Over the past 5 years the exports of Belgium to Armenia have increased at an annualized rate of 10.3%, from $41.1M in 2018 to $67M in 2023.

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

Comparison: In 2023, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B). That same year, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $95.9M to Belgium. The main products exported from Armenia to Belgium were Molybdenum Ore ($50.8M), Diamonds ($23.2M), and Zinc Ore ($12.3M). During the last 5 years the exports of Armenia to Belgium have increased at an annualized rate of 14.3%, from $49.2M in 2018 to $95.9M in 2023.

In 2018, Belgium exported $67M to Armenia. The main products exported from Belgium to Armenia were Tractors ($11M), Non-Retail Artificial Filament Yarn ($4.46M), and Diamonds ($3.94M). During the last 5 years the exports of Belgium to Armenia have increased at an annualized rate of 10.3%, from $41.1M in 2023 to $67M in 2018.

Exports from Armenia () to Belgium () (2023)

Exports from Belgium () to Armenia () (2023)

Latest Data

Trade between Armenia () and Belgium ()

Armenia Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Belgium
Top DestinationFrance$85.6B

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

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

In 2023, countries that imported more from Belgium than Armenia included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

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

Comparative Advantage Armenia - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Belgium in the exports of Mineral Products ($63.1M), Precious Metals ($23.2M), and Metals ($4.18M).

During 2018, Belgium had a large net trade with Armenia in the exports of Transportation ($15.8M), Chemical Products ($9.81M), and Foodstuffs ($9.41M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Belgium+$11.1MDiamonds

Top Product Potential Belgium Armenia+$5.85MDiamonds

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Belgium () (2023)

Exports from Belgium () to Armenia () (2023)

Latest Data

Trade between Armenia () and Belgium ()

Armenia Exports

Belgium Exports

Market Competitiveness

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

Comparative Advantage Armenia - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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