Armenia (ARM) and Bolivia (BOL) Trade | The Observatory of Economic Complexity

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Armenia-Bolivia Trade: In 2022, Armenia exported $732 to Bolivia. The main products that Armenia exported to Bolivia were Excavation Machinery ($732). Over the past 5 years the exports of Armenia to Bolivia have decreased at an annualized rate of 36.3%, from $7k in 2017 to $732 in 2022.

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

Bolivia-Armenia Trade: In 2022, Bolivia exported $175k to Armenia. The main products that Bolivia exported to Armenia were Coconuts, Brazil Nuts, and Cashews ($156k), Other Oily Seeds ($15.5k), and Sowing Seeds ($1.57k). Over the past 5 years the exports of Bolivia to Armenia have increased at an annualized rate of 93.1%, from $6.51k in 2017 to $175k in 2022.

In 2022, Bolivia 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, Bolivia ranked 106 in the Economic Complexity Index (ECI -0.85), and 93 in total exports ($13.8B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Armenia exported $732 to Bolivia. The main products exported from Armenia to Bolivia were Excavation Machinery ($732). During the last 5 years the exports of Armenia to Bolivia have decreased at an annualized rate of 36.3%, from $7k in 2017 to $732 in 2022.

In 2017, Bolivia exported $175k to Armenia. The main products exported from Bolivia to Armenia were Coconuts, Brazil Nuts, and Cashews ($156k), Other Oily Seeds ($15.5k), and Sowing Seeds ($1.57k). During the last 5 years the exports of Bolivia to Armenia have increased at an annualized rate of 93.1%, from $6.51k in 2022 to $175k in 2017.

Exports from Armenia () to Bolivia () (2022)

Exports from Bolivia () to Armenia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Bolivia
Top DestinationIndia$2.27B

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

In 2022, countries that imported more from Armenia than Bolivia included Russia ($2.36B), Georgia ($260M), and Switzerland ($257M).

In 2022, countries that imported more from Bolivia than Armenia included India ($2.27B), Brazil ($1.89B), and Argentina ($1.76B).

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

Comparative Advantage Armenia - Bolivia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Armenia had a large net trade with Bolivia in the exports of Machines ($732).

During 2017, Bolivia had a large net trade with Armenia in the exports of Vegetable Products ($174k) and Foodstuffs ($451).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Bolivia+$2.73kCars

Top Product Potential Bolivia Armenia+$45.9kCoconuts, Brazil Nuts, and Cashews

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Bolivia () (2022)

Exports from Bolivia () to Armenia () (2022)

Market Competitiveness

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

Comparative Advantage Armenia - Bolivia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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