2022
Flag  
GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
 GDP
$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH
-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
GDP PC 
$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH
92.5%CURRENT US$
Rnk 10 / 186
2022
Flag
GDP PC
$34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH
-2.55%CURRENT US$
Rnk 148 / 186

About

Armenia-Italy Trade: In 2022, Armenia exported $65.8M to Italy. The main products that Armenia exported to Italy were Non-Knit Women's Coats ($25M), Non-Knit Men's Coats ($14.2M), and Aluminium Foil ($12.9M). Over the past 5 years the exports of Armenia to Italy have increased at an annualized rate of 12%, from $37.3M in 2017 to $65.8M in 2022.

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

Italy-Armenia Trade: In 2022, Italy exported $279M to Armenia. The main products that Italy exported to Armenia were Animal Food ($22.4M), Synthetic Filament Yarn Woven Fabric ($9.75M), and Other Non-Knit Clothing Accessories ($8.84M). Over the past 5 years the exports of Italy to Armenia have increased at an annualized rate of 9.38%,  from $136M in 2017 to $279M in 2022.

In 2022, Italy 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, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Armenia exported $65.8M to Italy. The main products exported from Armenia to Italy were Non-Knit Women's Coats ($25M), Non-Knit Men's Coats ($14.2M), and Aluminium Foil ($12.9M). During the last 5 years the exports of Armenia to Italy have increased at an annualized rate of 12%, from $37.3M in 2017 to $65.8M in 2022.

In 2017, Italy exported $279M to Armenia. The main products exported from Italy to Armenia were Animal Food ($22.4M), Synthetic Filament Yarn Woven Fabric ($9.75M), and Other Non-Knit Clothing Accessories ($8.84M). During the last 5 years the exports of Italy to Armenia have increased at an annualized rate of 9.38%, from $136M in 2022 to $279M in 2017.

Exports from Armenia (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Armenia (Flag) (2022)

Latest Data

Trade between Armenia (Flag) and Italy (Flag)

Armenia Exports

Italy Exports

Market Competitiveness

Color
Armenia
Top Destination
Russia$2.36B
Italy
Top Destination
Germany$78.5B

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 2022, no countries were registered that imported more from Armenia than from Italy.

In 2022, countries that imported more from Italy than Armenia included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy (Flag) and Armenia (Flag) (2022)

Comparative Advantage Armenia - Italy

Flow
Scale

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

During 2022, Armenia had a large net trade with Italy in the exports of Textiles ($44.4M), Metals ($12.9M), and Arts and Antiques ($2.87M).

During 2017, Italy had a large net trade with Armenia in the exports of Machines ($74.1M), Textiles ($47.7M), and Foodstuffs ($37.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
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

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.

Product Space of Armenia (Flag) and Italy (Flag) (2022)

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