Armenia (ARM) and Ecuador (ECU) Trade | The Observatory of Economic Complexity

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Armenia-Ecuador Trade: In 2023, Armenia exported $17.2k to Ecuador. The main products that Armenia exported to Ecuador were Opto-Electric Instrument Parts ($11.1k), Plastic Pipes ($3.59k), and Non-Knit Men's Suits ($843). Over the past 6 years the exports of Armenia to Ecuador have increased at an annualized rate of 59.7%, from $1.04k in 2017 to $17.2k in 2023.

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

Ecuador-Armenia Trade: In 2023, Ecuador exported $18.3M to Armenia. The main products that Ecuador exported to Armenia were Bananas ($15.8M), Cut Flowers ($1.15M), and Cocoa Beans ($449k). Over the past 6 years the exports of Ecuador to Armenia have increased at an annualized rate of 12.5%, from $10.2M in 2017 to $18.3M in 2023.

In 2023, Ecuador 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, Ecuador ranked 104 in the Economic Complexity Index (ECI -0.85), and 65 in total exports ($37.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $17.2k to Ecuador. The main products exported from Armenia to Ecuador were Opto-Electric Instrument Parts ($11.1k), Plastic Pipes ($3.59k), and Non-Knit Men's Suits ($843). During the last 6 years the exports of Armenia to Ecuador have increased at an annualized rate of 59.7%, from $1.04k in 2017 to $17.2k in 2023.

In 2018, Ecuador exported $18.3M to Armenia. The main products exported from Ecuador to Armenia were Bananas ($15.8M), Cut Flowers ($1.15M), and Cocoa Beans ($449k). During the last 5 years the exports of Ecuador to Armenia have increased at an annualized rate of 12.5%, from $10.2M in 2023 to $18.3M in 2018.

Exports from Armenia () to Ecuador () (2023)

Exports from Ecuador () to Armenia () (2023)

Latest Data

Trade between Armenia () and Ecuador ()

Ecuador Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Ecuador
Top DestinationUnited States$8.34B

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

In 2023, countries that imported more from Armenia than Ecuador included Russia ($3.38B), United Arab Emirates ($2.25B), and Hong Kong ($669M).

In 2023, countries that imported more from Ecuador than Armenia included United States ($8.34B), China ($7.96B), and Panama ($4.38B).

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

Comparative Advantage Armenia - Ecuador

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Ecuador in the exports of Instruments ($11.1k), Plastics and Rubbers ($3.59k), and Textiles ($1.65k).

During 2018, Ecuador had a large net trade with Armenia in the exports of Vegetable Products ($17M), Foodstuffs ($731k), and Animal Products ($417k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Ecuador+$2.92kCars

Top Product Potential Ecuador Armenia+$659kCrustaceans

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Ecuador () (2023)

Exports from Ecuador () to Armenia () (2023)

Latest Data

Trade between Armenia () and Ecuador ()

Ecuador Exports

Market Competitiveness

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

Comparative Advantage Armenia - Ecuador

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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