Armenia’s participation in the tapioca starch trade through its import activities showcases its evolving position in the global market. With increasing import volumes and demand for tapioca starch, Armenia highlights its role as a significant consumer of this versatile product.
In 2021, Armenia demonstrated its involvement in the tapioca starch market by importing a total of $9.74k worth of the product. This placed Armenia as the 118th largest importer of tapioca starch globally. While tapioca starch ranked as the 3203rd most imported product in Armenia during the same year, the import figures shed light on Armenia’s demand for this versatile commodity.
Armenia primarily sourced its tapioca starch imports from Vietnam, accounting for $9.6k. Thailand followed with a smaller contribution of $71, while Russia provided $65. These countries played a significant role in meeting Armenia’s tapioca starch requirements and supporting its market needs.
Between 2020 and 2021, Armenia experienced notable growth in its import markets for tapioca starch. Thailand showcased an increase of $71 in its exports to Armenia, indicating the expanding demand and market potential for this product. Similarly, Russia contributed an additional $65, further highlighting the growing import opportunities for tapioca starch in Armenia.
Importing Tapioca Starch from Vietnam: A Reliable Partnership
Vietnam has emerged as a prominent supplier of tapioca starch to the Armenia market. In 2021, the total value of tapioca starch imports from Vietnam amounted to an impressive $9,601. This significant figure indicates that Vietnam’s tapioca starch holds a strong position in the market and is poised to maintain its presence in Armenia in the years to come. The reasons behind this sustained importation are primarily attributed to the product’s superior quality and competitive pricing.
Armenia benefits from Vietnam’s tapioca starch exports, which provide a dependable supply of this vital ingredient. The substantial import value from Vietnam underscores Armenia’s confidence in Vietnam as a trusted and preferred partner for fulfilling its tapioca starch requirements. With its consistent quality and competitive pricing, Vietnam’s tapioca starch has proven to be a reliable source that meets Armenia’s demand for this essential product.
In 2018, the average tariff rate for tapioca starch in Armenia stood at 7.73%. Notably, several countries imposed higher import tariffs on this product, including Botswana, Cote d’Ivoire, Cameroon, Republic of the Congo, and Cape Verde. These countries maintained a Most Favored Nation duty rate treatment, resulting in a 10% tariff on tapioca starch imports into Armenia.
The presence of higher import tariffs creates trade barriers and potential cost implications for Armenia’s tapioca starch imports. To ensure a balanced and sustainable market for tapioca starch, policymakers and stakeholders need to consider these tariffs when formulating import strategies and engaging in trade negotiations.