T13 · Trade opportunity evidence

Belgium (BEL) to Armenia (ARM) vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 (HS6 870423)

A country-to-country view of reported vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 trade, combining buyer demand, exporter position, market structure, access conditions, and observed lane history.

Exporter Belgium (BEL)Importer Armenia (ARM)HS6 870423One-way tradeCoverage 2017-2024Accelerating

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3-year buyer projection

$28.5MCalculated from reported demand

Exporter growth

+20%Full available history

Suppliers in market

18Latest reported count

Observed history

8 yearsLast year: 2024

Reported observations

What this vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 lane shows for HS 870423

Core values for Belgium (BEL) → Armenia (ARM) in HS 870423.

Buyer market

Latest imports$14.6M

Five-year projection$44.4M

Buyer CAGR+25%

Latest annual change-1.6%

Exporter position

Latest exports$288.5K

Market share2%

Share change+0.8 pp

Best observed share63.9%

Market structure

Reported suppliers18

Concentration index4,309.7

Share gap+61.9 pp

SignalAccelerating

Detailed evidence

Complete lane evidence

Reported values, calculated indicators, and country-pair context for this route.

Measure	Value	What it describes
Buyer imports	$14.6M	Armenia (ARM)'s latest reported imports
Exporter exports	$288.5K	Belgium (BEL)'s exports to Armenia (ARM)
Exporter market share	2%	Exporter share of the reported buyer market
Buyer five-year CAGR	+25%	Annualized change in buyer imports
Exporter full-history CAGR	+20%	Annualized change in exporter exports
Three-year buyer projection	$28.5M	Calculated projection from reported demand
Five-year buyer projection	$44.4M	Calculated projection from reported demand
Average buyer imports	$4.8M	Average reported importer value
Peak buyer imports	$19.7M	Highest reported importer value
Average exporter exports	$79.4K	Average reported lane exports
Peak exporter exports	$288.5K	Highest reported lane exports
Share change	+0.8 pp	Latest one-year change in exporter share
Reported suppliers	18	Supplier countries observed in the latest period
Buyer GDP	$13.9B	Latest buyer-country GDP estimate
Buyer GDP per person	$4.7K	Latest buyer-country GDP per person
Buyer population	2,968.1 thousand	Latest buyer-country population estimate
Buyer investment rate	25.9%	Reported buyer-country investment rate
Buyer secondary education	96.6%	Reported secondary education coverage
Distance	3,300 km	Approximate country-pair distance
Business entry time	4 days	Reported days to start a business
Shared legal system	No	Country-pair institutional relationship
Reported FTA	Yes	Reported trade-agreement indicator
WTO member	Yes	Buyer-country WTO membership indicator
Lane volatility	1.2	Variation indicator across observed lane values
Maximum drawdown	23.6%	Largest observed decline from a prior peak
Observed history	8 years	Coverage through 2024

Research reading

Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 demand and the Belgium (BEL) to Armenia (ARM) lane

Armenia (ARM) reported $14.6M of vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 imports in 2024. Belgium (BEL) accounted for 2% of the observed market and reported $288.5K in exports on this lane.

The latest annual values eased slightly, while the longer available history shows +25% buyer growth and +20% exporter growth. The page separates reported values from projections and indicators.

Product classification

What does HS 870423 include?

HS 870423 covers Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1. This page studies the six-digit Harmonized System classification rather than a company, brand, retail category, or individual shipment.

The classification sits in HS chapter 87 and heading 8704. The recorded trade type is one-way trade, with a medium price range classification in the available product reference data.

How to interpret this page

Compare demand, position, and history together

This HS 870423 trade opportunity page brings together the buyer market in Armenia (ARM), the exporter position of Belgium (BEL), and the observed conditions of their trade lane. A large buyer market does not by itself show that every exporter has equal access, and a positive growth rate does not remove the need to examine volatility and historical coverage.

Use the reported imports and exports to understand scale, market share to understand position, projections to understand the calculated forward view, and lane history to understand how much evidence supports the comparison.

Frequently asked questions

Questions about Belgium (BEL) to Armenia (ARM) vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1 trade

What is the HS code for this product?

This page covers HS 870423, the six-digit product classification shown in the trade records.

How large is the Armenia (ARM) market?

The page reports the latest buyer imports, historical averages, peaks, growth, and calculated projections for vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a g.v.w. exceeding 20 tonnes), nes in item no 8704.1.

How strong is Belgium (BEL) in this market?

Exporter performance is shown through lane exports, market share, share change, growth, and the number of reported suppliers.

What should be checked before entering this market?

Review market scale, competition, access indicators, volatility, drawdown, and the available history together rather than relying on one signal.

Definitions and coverage

How to read this page

Reported values

Trade values describe reported merchandise trade for the stated HS6 classification. They are not company-level sales or shipment records.

Calculated indicators

Growth, projections, concentration, volatility, and share-gap figures are calculated from the reported observations and should be interpreted with their coverage period.

Coverage

This sample covers 8 observed years through 2024. Missing values are shown as not reported rather than estimated.

Explore the classification

Compare this product across markets and routes

Use the trade data and methodology pages to study other exporters, importers, and HS6 products.