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2023
Flag → Flag
Exports $42.2MRnk 100 / 216
2023
Flag → Flag
Top Product $13.4MTractors
2023
Flag → Flag
Exports $1.36MRnk 61 / 133
2023
Flag → Flag
Top Product $439kBroadcasting Equipment
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
Flag
GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
Flag
GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

Sweden-Armenia Trade: In 2023, Sweden exported $42.2M to Armenia. The main products that Sweden exported to Armenia were Tractors ($13.4M), Cars ($3.44M), and Delivery Trucks ($2.96M). Over the past 5 years the exports of Sweden to Armenia have increased at an annualized rate of 7.63%, from $29.2M in 2018 to $42.2M in 2023.

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

Armenia-Sweden Trade: In 2023, Armenia exported $1.36M to Sweden. The main products that Armenia exported to Sweden were Broadcasting Equipment ($439k), Other Processed Fruits and Nuts ($186k), and Other Furniture ($83.8k). Over the past 5 years the exports of Armenia to Sweden have increased at an annualized rate of 19.6%,  from $556k in 2018 to $1.36M in 2023.

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

Comparison: In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B). 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, Sweden exported SEK18.4M and imported SEK72k from Armenia, resulting in a positive trade balance of SEK18.3M. Between October 2023 and October 2024 the exports of Sweden have decreased by SEK-1.04M (-5.34%) from SEK19.5M to SEK18.4M, while imports decreased by SEK-1.01M (-93.3%) from SEK1.08M to SEK72k.

Trade In October 2024, the top exports of Sweden to Armenia were Processed Tobacco (SEK4.12M), Excavation Machinery (SEK700k), Animal Fat (SEK526k), Transmissions (SEK500k), and Hair Products (SEK440k). In October 2024 the top imports of Sweden from Armenia were Cut Flowers (SEK38k), Pens (SEK25k), Non-Knit Men's Undergarments (SEK2k), Felt or Coated Fabric Garments (SEK2k), and Used Clothing (SEK2k).

Growth In October 2024, the decrease in Sweden's year-by-year exports to Armenia was explained primarily by an decrease in product exports in Insulated Wire (SEK-160k or -70.5%), Other Engines (SEK-107k or -54.9%), and Air Pumps (SEK-55k or -85.9%). In October 2024, the decrease in Sweden's year-by-year imports  from Armenia was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK-1.04M(-5.34%)
IMPORT GROWTH (October 2023 - October 2024)SEK-1.01M(-93.3%)

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

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

For full datasets download visit Bulk Download page.

Explore Armenia and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $42.2M to Armenia. The main products exported from Sweden to Armenia were Tractors ($13.4M), Cars ($3.44M), and Delivery Trucks ($2.96M). During the last 5 years the exports of Sweden to Armenia have increased at an annualized rate of 7.63%, from $29.2M in 2018 to $42.2M in 2023.

In 2018, Armenia exported $1.36M to Sweden. The main products exported from Armenia to Sweden were Broadcasting Equipment ($439k), Other Processed Fruits and Nuts ($186k), and Other Furniture ($83.8k). During the last 5 years the exports of Armenia to Sweden have increased at an annualized rate of 19.6%, from $556k in 2023 to $1.36M in 2018.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Sweden than Armenia included Germany ($18.4B), United States ($18.1B), and Denmark ($14.4B).

In 2023, countries that imported more from Armenia than Sweden included Russia ($3.38B), United Arab Emirates ($2.25B), and Georgia ($340M).

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

Comparative Advantage Sweden - Armenia

Flow
Scale

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

During 2023, Sweden had a large net trade with Armenia in the exports of Transportation ($20.8M), Machines ($8.3M), and Foodstuffs ($2.95M).

During 2018, Armenia had a large net trade with Sweden in the exports of Machines ($472k), Foodstuffs ($468k), and Vegetable Products ($93.6k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Armenia+$3.8MCars
Top Product Potential Armenia Sweden+$131kOther Processed Fruits and Nuts

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

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

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