2022
Exports
$324MWorld Rnk 80 / 223
Flag Rnk 6 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$191MWorld Rnk 124 / 225
Flag Rnk 10 / 96
2022
ECONOMIC COMPLEXITY of Armenia
0.00081Rnk 66 / 133

About

Exports In 2022, Armenia exported $324M in Iron & steel, making it the 80th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 6th most exported product in Armenia. The main destination of Iron & steel exports from Armenia are: Netherlands ($198M), Russia ($52.5M), Germany ($26.8M), Slovenia ($11.4M), and Georgia ($10.9M).

The fastest growing export markets for Iron & steel of Armenia between 2021 and 2022 were Russia ($40.3M), Netherlands ($22.7M), and Czechia ($5.99M).

Imports In 2022, Armenia imported $191M in Iron & steel, becoming the 124th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 10th most imported product in Armenia. Armenia imports Iron & steel primarily from: Iran ($105M), Russia ($40.3M), Georgia ($16.9M), China ($5.58M), and Turkey ($5.17M).

The fastest growing import markets in Iron & steel for Armenia between 2021 and 2022 were Iran ($42.6M), Russia ($16.8M), and Georgia ($10.1M).

Latest Trends

Oct 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 Iron & steel. 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 (2022)$324M
IMPORTS (2022)$191M
NET TRADE (2022)$133M

In 2022, Armenia exported $324M in Iron & steel. The main destinations of Armenia exports on Iron & steel were Netherlands ($198M), Russia ($52.5M), Germany ($26.8M), Slovenia ($11.4M), and Georgia ($10.9M).

In 2022, Armenia imported $191M in Iron & steel, mainly from Iran ($105M), Russia ($40.3M), Georgia ($16.9M), China ($5.58M), and Turkey ($5.17M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Armenia WERE (2021 - 2022):
Russia$40.3M (329%)
Netherlands$22.7M (12.9%)
Czechia$5.99M (3.96k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Armenia WERE (2021 - 2022):
Germany-$14.3M (-34.8%)
Austria-$7.59M (-100%)
Iran-$956k (-45.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Armenia's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Armenia's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $6.98M
TOP IMPORT POTENTIALChina+ $5.87M

Iron & steel’s highest export potential is Germany. With an export gap of $6.98M.   Iron & steel’s highest import potential is China with an import gap of $5.87M.

See methodology.

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