Armenia (ARM) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Armenia-Italy Trade: In 2023, Armenia exported $65.1M to Italy. The main products that Armenia exported to Italy were Non-Knit Women's Coats ($28.6M), Non-Knit Men's Coats ($21.4M), and Aluminium Foil ($5.82M). Over the past 5 years the exports of Armenia to Italy have increased at an annualized rate of 5.25%, from $50.4M in 2018 to $65.1M in 2023.

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

Italy-Armenia Trade: In 2023, Italy exported $361M to Armenia. The main products that Italy exported to Armenia were Animal Food ($18M), Synthetic Filament Yarn Woven Fabric ($15.6M), and Jewellery ($9.67M). Over the past 5 years the exports of Italy to Armenia have increased at an annualized rate of 13.8%, from $189M in 2018 to $361M in 2023.

In 2023, Italy 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $65.1M to Italy. The main products exported from Armenia to Italy were Non-Knit Women's Coats ($28.6M), Non-Knit Men's Coats ($21.4M), and Aluminium Foil ($5.82M). During the last 5 years the exports of Armenia to Italy have increased at an annualized rate of 5.25%, from $50.4M in 2018 to $65.1M in 2023.

In 2018, Italy exported $361M to Armenia. The main products exported from Italy to Armenia were Animal Food ($18M), Synthetic Filament Yarn Woven Fabric ($15.6M), and Jewellery ($9.67M). During the last 5 years the exports of Italy to Armenia have increased at an annualized rate of 13.8%, from $189M in 2023 to $361M in 2018.

Exports from Armenia () to Italy () (2023)

Exports from Italy () to Armenia () (2023)

Latest Data

Trade between Armenia () and Italy ()

Armenia Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Armenia than Italy included Botswana ($114M) and Curaçao ($17.3M).

In 2023, countries that imported more from Italy than Armenia included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

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

Comparative Advantage Armenia - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Italy in the exports of Textiles ($54.1M), Metals ($5.85M), and Precious Metals ($2.21M).

During 2018, Italy had a large net trade with Armenia in the exports of Machines ($91.5M), Textiles ($57.5M), and Foodstuffs ($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 Italy+$3.34MGold

Top Product Potential Italy Armenia+$5.37MCars

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

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Historical Data

Bilateral Trade by Products

Exports from Armenia () to Italy () (2023)

Exports from Italy () to Armenia () (2023)

Latest Data

Trade between Armenia () and Italy ()

Armenia Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Armenia - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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