Austria (AUT) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Austria-Armenia Trade: In 2023, Austria exported $84.4M to Armenia. The main products that Austria exported to Armenia were Lifting Machinery ($16.7M), Cars ($16.6M), and Cigarette Paper ($6.29M). Over the past 5 years the exports of Austria to Armenia have increased at an annualized rate of 21.7%, from $31.6M in 2018 to $84.4M in 2023.

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

Armenia-Austria Trade: In 2023, Armenia exported $10.3M to Austria. The main products that Armenia exported to Austria were Ferroalloys ($3.76M), Non-Knit Men's Suits ($2.32M), and Non-Knit Men's Coats ($924k). Over the past 5 years the exports of Armenia to Austria have increased at an annualized rate of 1.48%, from $9.55M in 2018 to $10.3M in 2023.

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

Comparison: In 2023, Austria ranked 8 in the Economic Complexity Index (ECI 1.56), and 31 in total exports ($204B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Austria exported $84.4M to Armenia. The main products exported from Austria to Armenia were Lifting Machinery ($16.7M), Cars ($16.6M), and Cigarette Paper ($6.29M). During the last 5 years the exports of Austria to Armenia have increased at an annualized rate of 21.7%, from $31.6M in 2018 to $84.4M in 2023.

In 2018, Armenia exported $10.3M to Austria. The main products exported from Armenia to Austria were Ferroalloys ($3.76M), Non-Knit Men's Suits ($2.32M), and Non-Knit Men's Coats ($924k). During the last 5 years the exports of Armenia to Austria have increased at an annualized rate of 1.48%, from $9.55M in 2023 to $10.3M in 2018.

Exports from Austria () to Armenia () (2023)

Exports from Armenia () to Austria () (2023)

Latest Data

Trade between Austria () and Armenia ()

Austria Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Austria
Top DestinationGermany$51B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Austria than Armenia included Germany ($51B), United States ($18.1B), and Italy ($13.5B).

In 2023, countries that imported more from Armenia than Austria included Russia ($3.38B), United Arab Emirates ($2.25B), and Georgia ($340M).

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

Comparative Advantage Austria - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Austria had a large net trade with Armenia in the exports of Machines ($30.8M), Transportation ($18.2M), and Paper Goods ($7.33M).

During 2018, Armenia had a large net trade with Austria in the exports of Textiles ($5.04M), Metals ($3.99M), and Mineral Products ($568k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Austria Armenia+$4.76MCars

Top Product Potential Armenia Austria+$978kCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Austria () to Armenia () (2023)

Exports from Armenia () to Austria () (2023)

Latest Data

Trade between Austria () and Armenia ()

Austria Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Austria - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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