Madagascar (MDG) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Madagascar-Armenia Trade: In 2023, Madagascar exported $284k to Armenia. The main products that Madagascar exported to Armenia were Precious Stones ($62.3k), Non-Knit Men's Shirts ($48.5k), and Cocoa Beans ($45.6k). Over the past 5 years the exports of Madagascar to Armenia have increased at an annualized rate of 5.42%, from $218k in 2018 to $284k in 2023.

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

Armenia-Madagascar In N/A, Armenia did not export any products to Madagascar.

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

Comparison: In 2023, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B). 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, Madagascar exported $284k to Armenia. The main products exported from Madagascar to Armenia were Precious Stones ($62.3k), Non-Knit Men's Shirts ($48.5k), and Cocoa Beans ($45.6k). During the last 5 years the exports of Madagascar to Armenia have increased at an annualized rate of 5.42%, from $218k in 2018 to $284k in 2023.

Armenia does not register exports to Madagascar. The main products exported from Armenia to Madagascar were Other Furniture ($31k).

Exports from Madagascar () to Armenia () (2023)

Exports from Armenia () to Madagascar () (2023)

Latest Data

Trade between Madagascar () and Armenia ()

Madagascar Exports

Date

Feb 2017

May 2015

Apr 2015

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Madagascar
Top DestinationUnited States$669M

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Madagascar than Armenia included France ($641M), United States ($669M), and Japan ($345M).

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

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

Comparative Advantage Madagascar - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Madagascar had a large net trade with Armenia in the exports of Textiles ($165k), Precious Metals ($62.3k), and Foodstuffs ($45.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Madagascar Armenia+$116kKnit Sweaters

Top Product Potential Armenia Madagascar+$1.82kCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Madagascar () to Armenia () (2023)

Exports from Armenia () to Madagascar () (2023)

Latest Data

Trade between Madagascar () and Armenia ()

Madagascar Exports

Market Competitiveness

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

Comparative Advantage Madagascar - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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