Armenia (ARM) and Thailand (THA) Trade | The Observatory of Economic Complexity

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Armenia-Thailand Trade: In 2023, Armenia exported $11.3M to Thailand. The main products that Armenia exported to Thailand were Silver ($9.22M), Jewellery ($862k), and Raw Aluminium ($408k). Over the past 5 years the exports of Armenia to Thailand have increased at an annualized rate of 55.8%, from $1.23M in 2018 to $11.3M in 2023.

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

Thailand-Armenia Trade: In 2023, Thailand exported $70.3M to Armenia. The main products that Thailand exported to Armenia were Precious Stones ($10.1M), Medical Instruments ($6.43M), and Jewellery ($6.12M). Over the past 5 years the exports of Thailand to Armenia have increased at an annualized rate of 25.4%, from $22.7M in 2018 to $70.3M in 2023.

In 2023, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $11.3M to Thailand. The main products exported from Armenia to Thailand were Silver ($9.22M), Jewellery ($862k), and Raw Aluminium ($408k). During the last 5 years the exports of Armenia to Thailand have increased at an annualized rate of 55.8%, from $1.23M in 2018 to $11.3M in 2023.

In 2018, Thailand exported $70.3M to Armenia. The main products exported from Thailand to Armenia were Precious Stones ($10.1M), Medical Instruments ($6.43M), and Jewellery ($6.12M). During the last 5 years the exports of Thailand to Armenia have increased at an annualized rate of 25.4%, from $22.7M in 2023 to $70.3M in 2018.

Exports from Armenia () to Thailand () (2023)

Exports from Thailand () to Armenia () (2023)

Latest Data

Trade between Armenia () and Thailand ()

Armenia Exports

Date

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Thailand
Top DestinationUnited States$58.5B

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

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

In 2023, countries that imported more from Thailand than Armenia included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

Comparative Advantage Armenia - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Armenia had a large net trade with Thailand in the exports of Precious Metals ($10.2M), Metals ($613k), and Textiles ($419k).

During 2018, Thailand had a large net trade with Armenia in the exports of Precious Metals ($17.9M), Machines ($17.4M), and Transportation ($10.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Thailand+$650kRaw Aluminium

Top Product Potential Thailand Armenia+$6.64MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Thailand () (2023)

Exports from Thailand () to Armenia () (2023)

Latest Data

Trade between Armenia () and Thailand ()

Armenia Exports

Thailand Exports

Market Competitiveness

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

Comparative Advantage Armenia - Thailand

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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