Bulgaria (BGR) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Bulgaria-Armenia Trade: In 2023, Bulgaria exported $77.1M to Armenia. The main products that Bulgaria exported to Armenia were Refined Petroleum ($16.4M), Tractors ($5.53M), and Cleaning Products ($4.51M). Over the past 5 years the exports of Bulgaria to Armenia have increased at an annualized rate of 7.46%, from $53.8M in 2018 to $77.1M in 2023.

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

Armenia-Bulgaria Trade: In 2023, Armenia exported $97.5M to Bulgaria. The main products that Armenia exported to Bulgaria were Copper Ore ($91.8M), Precious Metal Ore ($2.67M), and Hard Liquor ($1.04M). Over the past 5 years the exports of Armenia to Bulgaria have decreased at an annualized rate of 14.6%, from $215M in 2018 to $97.5M in 2023.

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

Comparison: In 2023, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). 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, Bulgaria exported $77.1M to Armenia. The main products exported from Bulgaria to Armenia were Refined Petroleum ($16.4M), Tractors ($5.53M), and Cleaning Products ($4.51M). During the last 5 years the exports of Bulgaria to Armenia have increased at an annualized rate of 7.46%, from $53.8M in 2018 to $77.1M in 2023.

In 2018, Armenia exported $97.5M to Bulgaria. The main products exported from Armenia to Bulgaria were Copper Ore ($91.8M), Precious Metal Ore ($2.67M), and Hard Liquor ($1.04M). During the last 5 years the exports of Armenia to Bulgaria have decreased at an annualized rate of 14.6%, from $215M in 2023 to $97.5M in 2018.

Exports from Bulgaria () to Armenia () (2023)

Exports from Armenia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Armenia ()

Bulgaria Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.84B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Bulgaria than Armenia included Germany ($6.84B), Romania ($5.63B), and Italy ($4.06B).

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

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

Comparative Advantage Bulgaria - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bulgaria had a large net trade with Armenia in the exports of Mineral Products ($16.4M), Machines ($13.3M), and Chemical Products ($11.9M).

During 2018, Armenia had a large net trade with Bulgaria in the exports of Mineral Products ($94.5M), Foodstuffs ($1.23M), and Textiles ($964k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria Armenia+$1.12MCars

Top Product Potential Armenia Bulgaria+$593kHard Liquor

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

About

Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to Armenia () (2023)

Exports from Armenia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Armenia ()

Bulgaria Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Bulgaria - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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