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2023
Flag → Flag
Exports $3.87MRnk 48 / 133
2023
Flag → Flag
Top Product $3.71MCopper Ore
2023
Flag → Flag
Exports $221kRnk 60 / 130
2023
Flag → Flag
Top Product $193kPackaged Medicaments
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
 GDP$7.53BCURRENT US$
Rnk 154 / 195
2013-2023
Flag
GDP GROWTH68.6%CURRENT US$
Rnk 42 / 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$12,221CURRENT US$
Rnk 83 / 196
2013-2023
Flag
GDP PC GROWTH70%CURRENT US$
Rnk 26 / 195

About

Armenia-Montenegro Trade: In 2023, Armenia exported $3.87M to Montenegro. The main products that Armenia exported to Montenegro were Copper Ore ($3.71M), Industrial Food Preperation Machinery ($53.6k), and Machinery Having Individual Functions ($53.1k). Over the past 5 years the exports of Armenia to Montenegro have increased at an annualized rate of 217%, from $12.1k in 2018 to $3.87M in 2023.

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

Montenegro-Armenia Trade: In 2023, Montenegro exported $221k to Armenia. The main products that Montenegro exported to Armenia were Packaged Medicaments ($193k), Hard Liquor ($19k), and Cars ($4.73k). Over the past 5 years the exports of Montenegro to Armenia have increased at an annualized rate of 45%,  from $34.5k in 2018 to $221k in 2023.

In 2023, Montenegro 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, Montenegro ranked 151 in total exports ($1.53B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Armenia exported $3.87M to Montenegro. The main products exported from Armenia to Montenegro were Copper Ore ($3.71M), Industrial Food Preperation Machinery ($53.6k), and Machinery Having Individual Functions ($53.1k). During the last 5 years the exports of Armenia to Montenegro have increased at an annualized rate of 217%, from $12.1k in 2018 to $3.87M in 2023.

In 2018, Montenegro exported $221k to Armenia. The main products exported from Montenegro to Armenia were Packaged Medicaments ($193k), Hard Liquor ($19k), and Cars ($4.73k). During the last 5 years the exports of Montenegro to Armenia have increased at an annualized rate of 45%, from $34.5k in 2023 to $221k in 2018.

Exports from Armenia (Flag) to Montenegro (Flag) (2023)

Exports from Montenegro (Flag) to Armenia (Flag) (2023)

Latest Data

Trade between Armenia (Flag) and Montenegro (Flag)

Armenia Exports

Date

Montenegro Exports

Market Competitiveness

Color
Armenia
Top DestinationRussia$3.38B
Montenegro
Top DestinationItaly$576M

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

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

In 2023, countries that imported more from Montenegro than Armenia included Italy ($576M), Serbia ($202M), and Bosnia and Herzegovina ($67.5M).

Difference in imports from Montenegro (Flag) and Armenia (Flag) (2023)

Comparative Advantage Armenia - Montenegro

Flow
Scale

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

During 2023, Armenia had a large net trade with Montenegro in the exports of Mineral Products ($3.71M), Machines ($107k), and Foodstuffs ($40.5k).

During 2018, Montenegro had a large net trade with Armenia in the exports of Chemical Products ($193k), Foodstuffs ($19k), and Transportation ($4.73k).

Economic Complexity

Competitive Landscape

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

Product Space of Armenia (Flag) and Montenegro (Flag) (2023)

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