Armenia (ARM) and Bulgaria (BGR) Trade | The Observatory of Economic Complexity

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Armenia-Bulgaria Trade: In 2022, Armenia exported $210M to Bulgaria. The main products that Armenia exported to Bulgaria were Copper Ore ($206M), Planes, Helicopters, and/or Spacecraft ($1.8M), and Non-Knit Women's Suits ($559k). Over the past 5 years the exports of Armenia to Bulgaria have decreased at an annualized rate of 5.69%, from $282M in 2017 to $210M in 2022.

In 2022, Armenia did not export any services to Bulgaria.

Bulgaria-Armenia Trade: In 2022, Bulgaria exported $62.5M to Armenia. The main products that Bulgaria exported to Armenia were Tractors ($5.28M), Cleaning Products ($4.04M), and Hair Products ($1.66M). Over the past 5 years the exports of Bulgaria to Armenia have increased at an annualized rate of 9.01%, from $40.6M in 2017 to $62.5M in 2022.

In 2022, Bulgaria did not export any services to Armenia.

Comparison: In 2022, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Armenia exported $210M to Bulgaria. The main products exported from Armenia to Bulgaria were Copper Ore ($206M), Planes, Helicopters, and/or Spacecraft ($1.8M), and Non-Knit Women's Suits ($559k). During the last 5 years the exports of Armenia to Bulgaria have decreased at an annualized rate of 5.69%, from $282M in 2017 to $210M in 2022.

In 2017, Bulgaria exported $62.5M to Armenia. The main products exported from Bulgaria to Armenia were Tractors ($5.28M), Cleaning Products ($4.04M), and Hair Products ($1.66M). During the last 5 years the exports of Bulgaria to Armenia have increased at an annualized rate of 9.01%, from $40.6M in 2022 to $62.5M in 2017.

Exports from Armenia () to Bulgaria () (2022)

Exports from Bulgaria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Bulgaria ()

Armenia Exports

Date

Bulgaria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Bulgaria
Top DestinationGermany$6.91B

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

In 2022, countries that imported more from Armenia than Bulgaria included Russia ($2.36B), United Arab Emirates ($535M), and Belarus ($74.6M).

In 2022, countries that imported more from Bulgaria than Armenia included Germany ($6.91B), Romania ($6.55B), and Italy ($3.85B).

Difference in imports from Bulgaria () and Armenia () (2022)

Comparative Advantage Armenia - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Armenia had a large net trade with Bulgaria in the exports of Mineral Products ($206M), Transportation ($1.8M), and Textiles ($1.15M).

During 2017, Bulgaria had a large net trade with Armenia in the exports of Machines ($17.8M), Chemical Products ($12.3M), and Transportation ($9.6M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Bulgaria+$593kHard Liquor

Top Product Potential Bulgaria Armenia+$1.12MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Bulgaria () (2022)

Exports from Bulgaria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Bulgaria ()

Armenia Exports

Bulgaria Exports

Market Competitiveness

Difference in imports from Bulgaria () and Armenia () (2022)

Comparative Advantage Armenia - Bulgaria

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Bulgaria () (2022)

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