2023
Exports
$11.6MWorld Rnk 31 / 146
Flag Rnk 71 / 973
2023
PRODUCT COMPLEXITY IN Butter
0.079Rnk 528 / 1025
2023
Imports
$26.1MWorld Rnk 57 / 224
Flag Rnk 96 / 1135
2023
ECONOMIC COMPLEXITY of Armenia
0.094Rnk 57 / 132

About

Exports In 2023, Armenia exported $11.6M in Butter, making it the 31st largest exporter of Butter in the world. At the same year, Butter was the 71st most exported product in Armenia. The main destination of Butter exports from Armenia are: Russia ($11.3M), Belarus ($330k), Georgia ($5.41k), and Bahrain ($227).

The fastest growing export markets for Butter of Armenia between 2022 and 2023 were Belarus ($330k) and Bahrain ($6).

Imports In 2023, Armenia imported $26.1M in Butter, becoming the 57th largest importer of Butter in the world. At the same year, Butter was the 96th most imported product in Armenia. Armenia imports Butter primarily from: New Zealand ($13.6M), Finland ($4.62M), Iran ($2.34M), Ukraine ($1.25M), and France ($817k).

The fastest growing import markets in Butter for Armenia between 2022 and 2023 were New Zealand ($1.76M), Finland ($1.44M), and Ukraine ($650k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Butter. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$11.6M
IMPORTS (2023)$26.1M
NET TRADE (2023)-$14.5M

In 2023, Armenia exported $11.6M in Butter. The main destinations of Armenia exports on Butter were Russia ($11.3M), Belarus ($330k), Georgia ($5.41k), and Bahrain ($227).

In 2023, Armenia imported $26.1M in Butter, mainly from New Zealand ($13.6M), Finland ($4.62M), Iran ($2.34M), Ukraine ($1.25M), and France ($817k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Butter EXPORT MARKETS FOR Armenia WERE (2022 - 2023):
Belarus$330k (1%)
Bahrain$6 (2.71%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Butter BY Armenia WERE (2022 - 2023):
Russia-$6.31M (-35.9%)
Uzbekistan-$120k (-100%)
Kazakhstan-$115k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Armenia's main exporting competitors in Butter were:
In 2023, Armenia's main importing competitors in Butter were:

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Trade Value of Butter by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALKazakhstan+ $99.3k
TOP IMPORT POTENTIALNetherlands+ $540k

Butter’s highest export potential is Kazakhstan. With an export gap of $99.3k.   Butter’s highest import potential is Netherlands with an import gap of $540k.

See methodology.

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