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2023
Flag → Flag
Exports $25.4MRnk 25 / 133
2023
Flag → Flag
Top Product $6.52MFerroalloys
2023
Flag → Flag
Exports $82.8MRnk 115 / 223
2023
Flag → Flag
Top Product $19.6MLarge Construction Vehicles
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag  
GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
 GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC $8,053CURRENT US$
Rnk 96 / 195
2013-2023
Flag
GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195
2023
Flag
GDP PC$49,464CURRENT US$
Rnk 26 / 196
2013-2023
Flag
GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195

About

Armenia-United Kingdom Trade: In 2023, Armenia exported $25.4M to United Kingdom. The main products that Armenia exported to United Kingdom were Ferroalloys ($6.52M), Non-Knit Men's Coats ($5.53M), and Non-Knit Women's Coats ($5.39M). Over the past 5 years the exports of Armenia to United Kingdom have increased at an annualized rate of 25.7%, from $8.1M in 2018 to $25.4M in 2023.

In 2023, Armenia did not export any services to United Kingdom.

United Kingdom-Armenia Trade: In 2023, United Kingdom exported $82.8M to Armenia. The main products that United Kingdom exported to Armenia were Large Construction Vehicles ($19.6M), Cars ($18.8M), and Packaged Medicaments ($3.28M). Over the past 5 years the exports of United Kingdom to Armenia have increased at an annualized rate of 15.7%,  from $39.9M in 2018 to $82.8M in 2023.

In 2023, United Kingdom 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, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Armenia exported $25.4M to United Kingdom. The main products exported from Armenia to United Kingdom were Ferroalloys ($6.52M), Non-Knit Men's Coats ($5.53M), and Non-Knit Women's Coats ($5.39M). During the last 5 years the exports of Armenia to United Kingdom have increased at an annualized rate of 25.7%, from $8.1M in 2018 to $25.4M in 2023.

In 2018, United Kingdom exported $82.8M to Armenia. The main products exported from United Kingdom to Armenia were Large Construction Vehicles ($19.6M), Cars ($18.8M), and Packaged Medicaments ($3.28M). During the last 5 years the exports of United Kingdom to Armenia have increased at an annualized rate of 15.7%, from $39.9M in 2023 to $82.8M in 2018.

Exports from Armenia (Flag) to United Kingdom (Flag) (2023)

Exports from United Kingdom (Flag) to Armenia (Flag) (2023)

Latest Data

Trade between Armenia (Flag) and United Kingdom (Flag)

Armenia Exports

United Kingdom Exports

Market Competitiveness

Color
Armenia
Top DestinationRussia$3.38B
United Kingdom
Top DestinationUnited States$59.7B

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

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

In 2023, countries that imported more from United Kingdom than Armenia included United States ($59.7B), China ($35.3B), and Germany ($34.6B).

Difference in imports from United Kingdom (Flag) and Armenia (Flag) (2023)

Comparative Advantage Armenia - United Kingdom

Flow
Scale

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

During 2023, Armenia had a large net trade with United Kingdom in the exports of Textiles ($11.9M), Metals ($10.3M), and Precious Metals ($794k).

During 2018, United Kingdom had a large net trade with Armenia in the exports of Machines ($30.1M), Transportation ($20.7M), and Chemical Products ($9.59M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Armenia United Kingdom+$2.21MRolled Tobacco
Top Product Potential United Kingdom Armenia+$10.9MCars

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

This visualization shows the product space at the HS4 level with the flags of Armenia and United Kingdom. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over United Kingdom. Similarly, a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Armenia.

Product Space of Armenia (Flag) and United Kingdom (Flag) (2023)

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