Iran (IRN) and Armenia (ARM) Trade | The Observatory of Economic Complexity

About

Iran-Armenia Trade: In 2023, Iran exported $597M to Armenia. The main products that Iran exported to Armenia were Raw Iron Bars ($72.4M), Petroleum Gas ($62.2M), and Refined Petroleum ($44.1M). Over the past 5 years the exports of Iran to Armenia have increased at an annualized rate of 15.1%, from $296M in 2018 to $597M in 2023.

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

Armenia-Iran Trade: In 2023, Armenia exported $94.5M to Iran. The main products that Armenia exported to Iran were Electricity ($58.6M), Copper Ore ($10.9M), and Semi-Finished Iron ($4.38M). Over the past 5 years the exports of Armenia to Iran have decreased at an annualized rate of 1.24%, from $101M in 2018 to $94.5M in 2023.

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

Comparison: In 2023, Iran ranked 58 in the Economic Complexity Index (ECI 0.084), and 92 in total exports ($13.2B). 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, Iran exported $597M to Armenia. The main products exported from Iran to Armenia were Raw Iron Bars ($72.4M), Petroleum Gas ($62.2M), and Refined Petroleum ($44.1M). During the last 5 years the exports of Iran to Armenia have increased at an annualized rate of 15.1%, from $296M in 2018 to $597M in 2023.

In 2018, Armenia exported $94.5M to Iran. The main products exported from Armenia to Iran were Electricity ($58.6M), Copper Ore ($10.9M), and Semi-Finished Iron ($4.38M). During the last 5 years the exports of Armenia to Iran have decreased at an annualized rate of 1.24%, from $101M in 2023 to $94.5M in 2018.

Exports from Iran () to Armenia () (2023)

Exports from Armenia () to Iran () (2023)

Latest Data

Trade between Iran () and Armenia ()

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iran
Top DestinationChina$4.59B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Iran than Armenia included China ($4.59B), Turkey ($2.18B), and India ($1.02B).

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

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

Comparative Advantage Iran - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iran had a large net trade with Armenia in the exports of Mineral Products ($193M), Metals ($180M), and Plastics and Rubbers ($41.5M).

During 2018, Armenia had a large net trade with Iran in the exports of Mineral Products ($70.8M), Animal Products ($6.2M), and Metals ($5.65M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iran Armenia+$2.08MEthylene Polymers

Top Product Potential Armenia Iran+$8.51MRolled Tobacco

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Iran and Armenia. This means that a dot/product with the flag of Iran indicates it has a comparative advantage over Armenia. Similarly, a dot/product with the flag of Armenia indicates it has a comparative advantage over Iran.

About

Historical Data

Bilateral Trade by Products

Exports from Iran () to Armenia () (2023)

Exports from Armenia () to Iran () (2023)

Latest Data

Trade between Iran () and Armenia ()

Armenia Exports

Market Competitiveness

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

Comparative Advantage Iran - Armenia

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring