2022
Flag  
GDP
$1.4TCURRENT US$
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2012-2022
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GDP GROWTH
5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
 GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
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2022
Flag
GDP PC 
$29,350CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
3.63%CURRENT US$
Rnk 132 / 186
2022
Flag
GDP PC
$7,014CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
92.5%CURRENT US$
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About

Spain-Armenia Trade: In 2022, Spain exported $95.6M to Armenia. The main products that Spain exported to Armenia were Vaccines, blood, antisera, toxins and cultures ($16.7M), Unglazed Ceramics ($7.81M), and Other Processed Vegetables ($7.25M). Over the past 5 years the exports of Spain to Armenia have increased at an annualized rate of 19.9%, from $38.6M in 2017 to $95.6M in 2022.

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

Armenia-Spain Trade: In 2022, Armenia exported $66M to Spain. The main products that Armenia exported to Spain were Copper Ore ($58.1M), Aluminium Foil ($4.53M), and Ferroalloys ($2.04M). Over the past 5 years the exports of Armenia to Spain have decreased at an annualized rate of 12.4%,  from $128M in 2017 to $66M in 2022.

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

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $95.6M to Armenia. The main products exported from Spain to Armenia were Vaccines, blood, antisera, toxins and cultures ($16.7M), Unglazed Ceramics ($7.81M), and Other Processed Vegetables ($7.25M). During the last 5 years the exports of Spain to Armenia have increased at an annualized rate of 19.9%, from $38.6M in 2017 to $95.6M in 2022.

In 2017, Armenia exported $66M to Spain. The main products exported from Armenia to Spain were Copper Ore ($58.1M), Aluminium Foil ($4.53M), and Ferroalloys ($2.04M). During the last 5 years the exports of Armenia to Spain have decreased at an annualized rate of 12.4%, from $128M in 2022 to $66M in 2017.

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

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

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
Armenia
Top Destination
Russia$2.36B

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

In 2022, countries that imported more from Spain than Armenia included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, countries that imported more from Armenia than Spain included Russia ($2.36B), Georgia ($260M), and Iraq ($250M).

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

Comparative Advantage Spain - Armenia

Flow
Scale

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

During 2022, Spain had a large net trade with Armenia in the exports of Chemical Products ($23.5M), Textiles ($13.5M), and Machines ($13.1M).

During 2017, Armenia had a large net trade with Spain in the exports of Mineral Products ($58.1M), Metals ($6.9M), and Textiles ($508k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Armenia+$2.18MPackaged Medicaments
Top Product Potential Armenia Spain+$2.94MFerroalloys

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

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

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