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2023
Flag → Flag
Exports $305MRnk 109 / 220
2023
Flag → Flag
Top Product $156MDiamonds
2023
Flag → Flag
Exports $45MRnk 20 / 133
2023
Flag → Flag
Top Product $28.6MGold
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
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GDP GROWTH92.1%CURRENT US$
Rnk 19 / 195
2023
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 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
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GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
GDP PC $2,481CURRENT US$
Rnk 148 / 195
2013-2023
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GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
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GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

India-Armenia Trade: In 2023, India exported $305M to Armenia. The main products that India exported to Armenia were Diamonds ($156M), Synthetic Reconstructed Jewellery Stones ($27.5M), and Raw Tobacco ($10.4M). Over the past 5 years the exports of India to Armenia have increased at an annualized rate of 31.8%, from $76.7M in 2018 to $305M in 2023.

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

Armenia-India Trade: In 2023, Armenia exported $45M to India. The main products that Armenia exported to India were Gold ($28.6M), Molybdenum Ore ($6.12M), and Medical Instruments ($3.24M). Over the past 5 years the exports of Armenia to India have increased at an annualized rate of 116%,  from $950k in 2018 to $45M in 2023.

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

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). 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, India exported $14.3M and imported $2.47M from Armenia, resulting in a positive trade balance of $11.8M. Between November 2023 and November 2024 the exports of India have increased by $9.69M (212%) from $4.57M to $14.3M, while imports decreased by $-406k (-14.1%) from $2.88M to $2.47M.

Trade In November 2024, the top exports of India to Armenia were Telecom Instruments ($1.33M), Pearl, Precs, Semiprecs Stones ($951k), Coffee ($372k), Machine Tools ($227k), and Drug Formulations, Biologicals ($136k). In November 2024 the top imports of India from Armenia were Medical And Scientific Instrum ($93.1k) and Alcoholic Beverages ($17.1k).

Growth In November 2024, the increase in India's year-by-year exports to Armenia was explained primarily by an increase in product exports in Pearl, Precs, Semiprecs Stones ($355k or 59.6%), Machine Tools ($226k or 18.7k%), and Computer Hardware, Peripherals ($24.8k or 1.27k%). In November 2024, the decrease in India's year-by-year imports  from Armenia was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$9.69M(212%)
IMPORT GROWTH (November 2023 - November 2024)$-406k(-14.1%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Armenia and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Armenia and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $305M to Armenia. The main products exported from India to Armenia were Diamonds ($156M), Synthetic Reconstructed Jewellery Stones ($27.5M), and Raw Tobacco ($10.4M). During the last 5 years the exports of India to Armenia have increased at an annualized rate of 31.8%, from $76.7M in 2018 to $305M in 2023.

In 2018, Armenia exported $45M to India. The main products exported from Armenia to India were Gold ($28.6M), Molybdenum Ore ($6.12M), and Medical Instruments ($3.24M). During the last 5 years the exports of Armenia to India have increased at an annualized rate of 116%, from $950k in 2023 to $45M in 2018.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from India than Armenia included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

In 2023, countries that imported more from Armenia than India included Georgia ($340M) and Belarus ($91.7M).

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

Comparative Advantage India - Armenia

Flow
Scale

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

During 2023, India had a large net trade with Armenia in the exports of Precious Metals ($202M), Machines ($22.4M), and Foodstuffs ($15.1M).

During 2018, Armenia had a large net trade with India in the exports of Precious Metals ($29M), Mineral Products ($6.13M), and Instruments ($3.41M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Armenia+$18.1MDiamonds
Top Product Potential Armenia India+$55.2MGold

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

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

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