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2023
Flag → Flag
Exports $67MRnk 126 / 220
2023
Flag → Flag
Top Product $11MTractors
2023
Flag → Flag
Exports $95.9MRnk 11 / 133
2023
Flag → Flag
Top Product $50.8MMolybdenum Ore
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
Flag
GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
Flag
GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

Belgium-Armenia Trade: In 2023, Belgium exported $67M to Armenia. The main products that Belgium exported to Armenia were Tractors ($11M), Non-Retail Artificial Filament Yarn ($4.46M), and Diamonds ($3.94M). Over the past 5 years the exports of Belgium to Armenia have increased at an annualized rate of 10.3%, from $41.1M in 2018 to $67M in 2023.

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

Armenia-Belgium Trade: In 2023, Armenia exported $95.9M to Belgium. The main products that Armenia exported to Belgium were Molybdenum Ore ($50.8M), Diamonds ($23.2M), and Zinc Ore ($12.3M). Over the past 5 years the exports of Armenia to Belgium have increased at an annualized rate of 14.3%,  from $49.2M in 2018 to $95.9M in 2023.

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

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Latest Trends

November, 2024

About

Overview In November 2024, Belgium exported €4.58M and imported €4.71M from Armenia, resulting in a negative trade balance of €130k. Between November 2023 and November 2024 the exports of Belgium have decreased by €-1.04M (-18.5%) from €5.63M to €4.58M, while imports decreased by €-20.1M (-81%) from €24.8M to €4.71M.

Trade In November 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 November 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 November 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 November 2024, the decrease in Belgium's year-by-year imports  from Armenia was explained primarily by an decrease in product imports  in Aluminum articles (€-8.6k or -52.6%), Edible fruits, nuts & fruit peels (€-2.58k or -99.8%), and Electrical machinery and electronics (€-1.08k or -99.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-1.04M(-18.5%)
IMPORT GROWTH (November 2023 - November 2024)€-20.1M(-81%)

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.

Explore Armenia and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $67M to Armenia. The main products exported from Belgium to Armenia were Tractors ($11M), Non-Retail Artificial Filament Yarn ($4.46M), and Diamonds ($3.94M). During the last 5 years the exports of Belgium to Armenia have increased at an annualized rate of 10.3%, from $41.1M in 2018 to $67M in 2023.

In 2018, Armenia exported $95.9M to Belgium. The main products exported from Armenia to Belgium were Molybdenum Ore ($50.8M), Diamonds ($23.2M), and Zinc Ore ($12.3M). During the last 5 years the exports of Armenia to Belgium have increased at an annualized rate of 14.3%, from $49.2M in 2023 to $95.9M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Armenia
Top DestinationRussia$3.38B

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 2023, countries that imported more from Belgium than Armenia included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

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

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

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 2023, Belgium had a large net trade with Armenia in the exports of Transportation ($15.8M), Chemical Products ($9.81M), and Foodstuffs ($9.41M).

During 2018, Armenia had a large net trade with Belgium in the exports of Mineral Products ($63.1M), Precious Metals ($23.2M), and Metals ($4.18M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Armenia+$5.85MDiamonds
Top Product Potential Armenia Belgium+$11.1MDiamonds

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

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

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