Denmark (DNK) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Denmark-Armenia Trade: In 2023, Denmark exported $22.2M to Armenia. The main products that Denmark exported to Armenia were Industrial Food Preperation Machinery ($7.61M), Orthopedic Appliances ($1.07M), and X-Ray Equipment ($1.07M). Over the past 5 years the exports of Denmark to Armenia have increased at an annualized rate of 19.7%, from $9.06M in 2018 to $22.2M in 2023.

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

Armenia-Denmark Trade: In 2023, Armenia exported $228k to Denmark. The main products that Armenia exported to Denmark were X-Ray Equipment ($94.8k), Computers ($34.8k), and Other Leather Articles ($18.2k). Over the past 5 years the exports of Armenia to Denmark have decreased at an annualized rate of 33.8%, from $1.8M in 2018 to $228k in 2023.

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

Comparison: In 2023, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B). 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, Denmark exported $22.2M to Armenia. The main products exported from Denmark to Armenia were Industrial Food Preperation Machinery ($7.61M), Orthopedic Appliances ($1.07M), and X-Ray Equipment ($1.07M). During the last 5 years the exports of Denmark to Armenia have increased at an annualized rate of 19.7%, from $9.06M in 2018 to $22.2M in 2023.

In 2018, Armenia exported $228k to Denmark. The main products exported from Armenia to Denmark were X-Ray Equipment ($94.8k), Computers ($34.8k), and Other Leather Articles ($18.2k). During the last 5 years the exports of Armenia to Denmark have decreased at an annualized rate of 33.8%, from $1.8M in 2023 to $228k in 2018.

Exports from Denmark () to Armenia () (2023)

Exports from Armenia () to Denmark () (2023)

Latest Data

Trade between Denmark () and Armenia ()

Denmark Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Denmark
Top DestinationGermany$14.8B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Denmark than Armenia included Germany ($14.8B), United States ($12B), and Sweden ($11.2B).

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

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

Comparative Advantage Denmark - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Denmark had a large net trade with Armenia in the exports of Machines ($11.1M), Instruments ($3.1M), and Chemical Products ($2.36M).

During 2018, Armenia had a large net trade with Denmark in the exports of Instruments ($112k), Machines ($46.5k), and Precious Metals ($21.1k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Denmark Armenia+$1.13MTelephones

Top Product Potential Armenia Denmark+$322kAluminium Foil

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

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Historical Data

Bilateral Trade by Products

Exports from Denmark () to Armenia () (2023)

Exports from Armenia () to Denmark () (2023)

Latest Data

Trade between Denmark () and Armenia ()

Denmark Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Denmark - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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