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Pricing

2022
Flag → Flag
Exports $4.24kRnk 115 / 126
2022
Flag → Flag
Top Product $1.73kElectric Heaters
2022
Flag → Flag
Exports $161kRnk 92 / 0
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.00081Rnk 66 / 133
2022
Flag
 GDP$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
GDP PC$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH92.5%CURRENT US$
Rnk 10 / 186

About

Venezuela-Armenia Trade: In 2022, Venezuela exported $4.24k to Armenia. The main products that Venezuela exported to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). Over the past 7 years the exports of Venezuela to Armenia have decreased at an annualized rate of 24.6%, from $30.5k in 2015 to $4.24k in 2022.

In 2022, Venezuela did not export any services to Armenia.

Armenia-Venezuela Trade: In 2022, Armenia exported $161k to Venezuela. The main products that Armenia exported to Venezuela were N/A. Over the past 7 years the exports of Armenia to Venezuela have increased at an annualized rate of 7.05%,  from $114k in 2015 to $161k in 2022.

In 2022, Armenia did not export any services to Venezuela.

Comparison: In 2022,  Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Venezuela exported $4.24k to Armenia. The main products exported from Venezuela to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). During the last 7 years the exports of Venezuela to Armenia have decreased at an annualized rate of 24.6%, from $30.5k in 2015 to $4.24k in 2022.

In 2007, Armenia exported $161k to Venezuela. There were not main exports from Armenia to Venezuela in 2007. During the last 5 years the exports of Armenia to Venezuela have increased at an annualized rate of 7.05%, from $114k in 2012 to $161k in 2007.

Exports from Venezuela (Flag) to Armenia (Flag) (2022)

Exports from Armenia (Flag) to Venezuela (Flag) (2022)

Market Competitiveness

Color
Venezuela
Top DestinationChina$703M
Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Venezuela than Armenia included Turkey ($597M), Spain ($518M), and Brazil ($361M).

In 2022, countries that imported more from Armenia than Venezuela included Russia ($2.36B), United Arab Emirates ($535M), and Georgia ($260M).

Difference in imports from Armenia (Flag) and Venezuela (Flag) (2022)

Comparative Advantage Venezuela - Armenia

Flow
Scale

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

During 2022, Venezuela had a large net trade with Armenia in the exports of Machines ($2.17k), Vegetable Products ($1.21k), and Stone And Glass ($439).

During 2007, Armenia had a large net trade with Venezuela in the exports of .

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and Armenia (Flag) (2022)

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