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2023
Flag → Flag
Exports $361MRnk 90 / 219
2023
Flag → Flag
Top Product $18MAnimal Food
2023
Flag → Flag
Exports $65.1MRnk 17 / 133
2023
Flag → Flag
Top Product $28.6MNon-Knit Women's Coats
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
Flag
GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

Italy-Armenia Trade: In 2023, Italy exported $361M to Armenia. The main products that Italy exported to Armenia were Animal Food ($18M), Synthetic Filament Yarn Woven Fabric ($15.6M), and Jewellery ($9.67M). Over the past 5 years the exports of Italy to Armenia have increased at an annualized rate of 13.8%, from $189M in 2018 to $361M in 2023.

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

Armenia-Italy Trade: In 2023, Armenia exported $65.1M to Italy. The main products that Armenia exported to Italy were Non-Knit Women's Coats ($28.6M), Non-Knit Men's Coats ($21.4M), and Aluminium Foil ($5.82M). Over the past 5 years the exports of Armenia to Italy have increased at an annualized rate of 1.23%,  from $50.4M in 2018 to $65.1M in 2023.

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

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €4.53M and imported €4.87M from Armenia, resulting in a negative trade balance of €345k. Between October 2023 and October 2024 the exports of Italy have increased by €1.43M (46.2%) from €3.1M to €4.53M, while imports decreased by €-151k (-3.01%) from €5.02M to €4.87M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€1.43M(46.2%)
IMPORT GROWTH (October 2023 - October 2024)€-151k(-3.01%)

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

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

For full datasets download visit Bulk Download page.

Explore Armenia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $361M to Armenia. The main products exported from Italy to Armenia were Animal Food ($18M), Synthetic Filament Yarn Woven Fabric ($15.6M), and Jewellery ($9.67M). During the last 5 years the exports of Italy to Armenia have increased at an annualized rate of 13.8%, from $189M in 2018 to $361M in 2023.

In 2018, Armenia exported $65.1M to Italy. The main products exported from Armenia to Italy were Non-Knit Women's Coats ($28.6M), Non-Knit Men's Coats ($21.4M), and Aluminium Foil ($5.82M). During the last 5 years the exports of Armenia to Italy have increased at an annualized rate of 1.23%, from $50.4M in 2023 to $65.1M in 2018.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Italy than Armenia included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

In 2023, countries that imported more from Armenia than Italy included Botswana ($114M) and Curaçao ($17.3M).

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

Comparative Advantage Italy - Armenia

Flow
Scale

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

During 2023, Italy had a large net trade with Armenia in the exports of Machines ($91.5M), Textiles ($57.5M), and Foodstuffs ($41M).

During 2018, Armenia had a large net trade with Italy in the exports of Textiles ($54.1M), Metals ($5.85M), and Precious Metals ($2.21M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Armenia+$5.37MCars
Top Product Potential Armenia Italy+$3.34MGold

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

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

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