Greece (GRC) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Greece-Armenia Trade: In 2022, Greece exported $48M to Armenia. The main products that Greece exported to Armenia were Refined Petroleum ($19.5M), Aluminium Foil ($7.32M), and Aluminium Bars ($6.01M). Over the past 5 years the exports of Greece to Armenia have increased at an annualized rate of 11.4%, from $28M in 2017 to $48M in 2022.

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

Armenia-Greece Trade: In 2022, Armenia exported $1.52M to Greece. The main products that Armenia exported to Greece were Aluminium Foil ($1.25M), Other Furniture ($67.5k), and Other Footwear ($39.5k). Over the past 5 years the exports of Armenia to Greece have decreased at an annualized rate of 21%, from $4.94M in 2017 to $1.52M in 2022.

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

Comparison: In 2022, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Greece exported $48M to Armenia. The main products exported from Greece to Armenia were Refined Petroleum ($19.5M), Aluminium Foil ($7.32M), and Aluminium Bars ($6.01M). During the last 5 years the exports of Greece to Armenia have increased at an annualized rate of 11.4%, from $28M in 2017 to $48M in 2022.

In 2017, Armenia exported $1.52M to Greece. The main products exported from Armenia to Greece were Aluminium Foil ($1.25M), Other Furniture ($67.5k), and Other Footwear ($39.5k). During the last 5 years the exports of Armenia to Greece have decreased at an annualized rate of 21%, from $4.94M in 2022 to $1.52M in 2017.

Exports from Greece () to Armenia () (2022)

Exports from Armenia () to Greece () (2022)

Latest Data

Trade between Greece () and Armenia ()

Greece Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Greece than Armenia included Italy ($5.82B), Bulgaria ($3.62B), and Germany ($3.45B).

In 2022, countries that imported more from Armenia than Greece included Russia ($2.36B), Iraq ($250M), and United Arab Emirates ($535M).

Difference in imports from Armenia () and Greece () (2022)

Comparative Advantage Greece - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Greece had a large net trade with Armenia in the exports of Mineral Products ($19.6M), Metals ($14.6M), and Chemical Products ($5.07M).

During 2017, Armenia had a large net trade with Greece in the exports of Metals ($1.25M), Miscellaneous ($69.6k), and Textiles ($41k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Armenia+$1.83MRefined Petroleum

Top Product Potential Armenia Greece+$393kAluminium 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 Greece and Armenia. This means that a dot/product with the flag of Greece indicates it has a comparative advantage over Armenia. Similarly, a dot/product with the flag of Armenia indicates it has a comparative advantage over Greece.

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Historical Data

Bilateral Trade by Products

Exports from Greece () to Armenia () (2022)

Exports from Armenia () to Greece () (2022)

Latest Data

Trade between Greece () and Armenia ()

Greece Exports

Armenia Exports

Market Competitiveness

Difference in imports from Armenia () and Greece () (2022)

Comparative Advantage Greece - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Greece () and Armenia () (2022)

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