2022
Exports
$3.65MWorld Rnk 154 / 214
Flag Rnk 127 / 945
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$494MWorld Rnk 137 / 225
Flag Rnk 4 / 1142
2022
ECONOMIC COMPLEXITY of Armenia
0.00081Rnk 66 / 133

About

Exports In 2022, Armenia exported $3.65M in Refined Petroleum, making it the 154th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 127th most exported product in Armenia. The main destination of Refined Petroleum exports from Armenia are: Russia ($1.76M), Kyrgyzstan ($1.52M), Belarus ($237k), Georgia ($122k), and Denmark ($1.7k).

The fastest growing export markets for Refined Petroleum of Armenia between 2021 and 2022 were Russia ($1.74M), Kyrgyzstan ($1.52M), and Belarus ($201k).

Imports In 2022, Armenia imported $494M in Refined Petroleum, becoming the 137th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in Armenia. Armenia imports Refined Petroleum primarily from: Russia ($374M), Iran ($53.8M), Greece ($19.5M), Egypt ($10.5M), and Turkey ($9.35M).

The fastest growing import markets in Refined Petroleum for Armenia between 2021 and 2022 were Russia ($132M), Greece ($14M), and Iran ($9.62M).

Latest Trends

Sep 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 Refined Petroleum. 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)$3.65M
IMPORTS (2022)$494M
NET TRADE (2022)-$490M

In 2022, Armenia exported $3.65M in Refined Petroleum. The main destinations of Armenia exports on Refined Petroleum were Russia ($1.76M), Kyrgyzstan ($1.52M), Belarus ($237k), Georgia ($122k), and Denmark ($1.7k).

In 2022, Armenia imported $494M in Refined Petroleum, mainly from Russia ($374M), Iran ($53.8M), Greece ($19.5M), Egypt ($10.5M), and Turkey ($9.35M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Armenia WERE (2021 - 2022):
Russia$1.74M (8.41k%)
Kyrgyzstan$1.52M (1%)
Belarus$201k (560%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Armenia WERE (2021 - 2022):
Iran-$220k (-100%)
United Arab Emirates-$80.4k (-100%)
Belgium-$1.21k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Armenia's main exporting competitors in Refined Petroleum were:
In 2022, Armenia's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALRussia+ $509k
TOP IMPORT POTENTIALTurkey+ $10.8M

Refined Petroleum’s highest export potential is Russia. With an export gap of $509k.   Refined Petroleum’s highest import potential is Turkey with an import gap of $10.8M.

See methodology.

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