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2022
Flag → Flag
Exports $68.6MRnk 123 / 222
2022
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Top Product $28.1MDiamonds
2022
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Exports $87MRnk 12 / 129
2022
Flag → Flag
Top Product $41.6MDiamonds
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 0.00081Rnk 66 / 133
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
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GDP GROWTH83.7%CURRENT US$
Rnk 25 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$7,014CURRENT US$
Rnk 91 / 186
2012-2022
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GDP PC GROWTH92.5%CURRENT US$
Rnk 10 / 186

About

Belgium-Armenia In 2022, Belgium exported $68.6M to Armenia. The main products that Belgium exported to Armenia are Diamonds ($28.1M), Raw Plastic Sheeting ($2.67M), and Artificial Filament Tow ($2.37M). During the last 23 years the exports of Belgium to Armenia have decreased at an annualized rate of 1.07%, from $87.9M in 1999 to $68.6M in 2022.

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

Armenia-Belgium In 2022, Armenia exported $87M to Belgium. The main products that Armenia exported to Belgium were Diamonds ($41.6M), Molybdenum Ore ($19.8M), and Zinc Ore ($18.9M). During the last 23 years the exports of Armenia to Belgium have increased at an annualized rate of 0.033%, from $86.3M in 1999 to $87M in 2022.

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

Comparison In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Latest Trends

January, 2024

About

Overview In January 2024, Belgium exported €6.78M and imported €20.1M from Armenia, resulting in a negative trade balance of €13.3M. Between January 2023 and January 2024 the exports of Belgium have decreased by €-929k (-12%) from €7.71M to €6.78M, while imports increased by €16.9M (529%) from €3.19M to €20.1M.

Trade In January 2024, the top exports of Belgium to Armenia were Precious stones, metals, & pearls (€4.2M), Cars, tractors, trucks & parts thereof. (€1.02M), Machinery, mechanical appliances, & parts (€368k), Organic chemicals (€309k), and Mineral fuels, mineral oils and products... (€299k). In January 2024 the top imports of Belgium from Armenia were Precious stones, metals, & pearls (€2.87M), Preparations of vegetables, fruit, nuts or... (€182k), Ores, slag and ash (€96.6k), Miscellaneous edible preparations (€14.3k), and Beverages, spirits, & vinegar (€11.1k).

Growth In January 2024, the decrease in Belgium's year-by-year exports to Armenia was explained primarily by an decrease in product exports in Plastics & articles thereof (€-254k or -48.3%), Preparations of vegetables, fruit, nuts or... (€-21.8k or -99.8%), and Furniture, bedding, lamps, & prefab buildings (€-4.48k or -43%). In January 2024, the increase in Belgium's year-by-year imports  from Armenia was explained primarily by an increase in product imports  in Precious stones, metals, & pearls (€1.42M or 98%), Preparations of vegetables, fruit, nuts or... (€137k or 298%), and Miscellaneous edible preparations (€14.2k or 27.3k%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (January 2023 - January 2024)€-929k(-12%)
IMPORT GROWTH (January 2023 - January 2024)€16.9M(529%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Armenia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $68.6M to Armenia. The main products exported from Belgium to Armenia were Diamonds ($28.1M), Raw Plastic Sheeting ($2.67M), and Artificial Filament Tow ($2.37M). During the last 23 years the exports of Belgium to Armenia have decreased at an annualized rate of 1.07%, from $87.9M in 1999 to $68.6M in 2022.

In 2022, Armenia exported $87M to Belgium. The main products exported from Armenia to Belgium were Diamonds ($41.6M), Molybdenum Ore ($19.8M), and Zinc Ore ($18.9M). During the last 23 years the exports of Armenia to Belgium have increased at an annualized rate of 0.033%, from $86.3M in 1999 to $87M in 2022.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Armenia
Top DestinationRussia$2.36B

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

In 2021, countries that imported more from Belgium than Armenia were Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2021, countries that imported more from Armenia than Belgium were Georgia ($260M).

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

Comparative Advantage Belgium - Armenia

Flow
Scale

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

During 2022, Belgium had a large net trade with Armenia in the exports of Precious Metals ($28.4M), Chemical Products ($7.44M), and Machines ($6.21M).

During 2022, Armenia had a large net trade with Belgium in the exports of Precious Metals ($41.6M), Mineral Products ($38.7M), and Transportation ($2.91M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Belgium has comparative advantage over Armenia. Similarly, the more yellow a dot/product is, the more Armenia has comparative advantage over Belgium.

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

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