2022
Flag  
GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
 GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
Flag
GDP PC
$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH
92.5%CURRENT US$
Rnk 10 / 186

About

Russia-Armenia Trade: In 2022, Russia exported $2.45B to Armenia. The main products that Russia exported to Armenia were Petroleum Gas ($417M), Refined Petroleum ($374M), and Gold ($209M). Over the past 5 years the exports of Russia to Armenia have increased at an annualized rate of 14.3%, from $1.25B in 2017 to $2.45B in 2022.

In 2020, Russia exported services to Armenia worth $246M, with Travel ($118M), Transportation ($48.1M), and Other business services ($26.6M) being the largest in terms of value.

Armenia-Russia Trade: In 2022, Armenia exported $2.36B to Russia. The main products that Armenia exported to Russia were Broadcasting Equipment ($247M), Cars ($237M), and Hard Liquor ($236M). Over the past 5 years the exports of Armenia to Russia have increased at an annualized rate of 32.8%,  from $572M in 2017 to $2.36B in 2022.

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

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). 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, Russia exported $2.45B to Armenia. The main products exported from Russia to Armenia were Petroleum Gas ($417M), Refined Petroleum ($374M), and Gold ($209M). During the last 5 years the exports of Russia to Armenia have increased at an annualized rate of 14.3%, from $1.25B in 2017 to $2.45B in 2022.

In 2017, Armenia exported $2.36B to Russia. The main products exported from Armenia to Russia were Broadcasting Equipment ($247M), Cars ($237M), and Hard Liquor ($236M). During the last 5 years the exports of Armenia to Russia have increased at an annualized rate of 32.8%, from $572M in 2022 to $2.36B in 2017.

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

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

Market Competitiveness

Color
Russia
Top Destination
China$101B
Armenia
Top Destination
Russia$2.36B

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

In 2022, countries that imported more from Russia than Armenia included China ($101B), India ($40.4B), and Germany ($27.7B).

In 2022, countries that imported more from Armenia than Russia included Iraq ($250M), Iran ($111M), and Belarus ($74.6M).

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

Comparative Advantage Russia - Armenia

Flow
Scale

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

During 2022, Russia had a large net trade with Armenia in the exports of Mineral Products ($796M), Precious Metals ($396M), and Metals ($232M).

During 2017, Armenia had a large net trade with Russia in the exports of Machines ($625M), Foodstuffs ($409M), and Transportation ($294M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Armenia+$1.1MNitrogenous Fertilizers
Top Product Potential Armenia Russia+$2.99MPackaged Medicaments

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

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

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