THE DEGREE OF SERVICE TRADE CONCENTRATION BETWEEN THE REPUBLIC OF ARMENIA AND MEMBER STATES OF THE EURASIAN ECONOMIC UNION

This article examined the degree of service trade concentration between the Republic of Armenia and the Eurasian Economic Union countries between 2014 and 2021. Using the Herfindahl-Hirschman Index and the Theil Index the article evaluates the concentration level of exports and imports of services. The analysis shows that the trade of services is very concentrated on transport and tourism, which brings a low level of diversification. The study also emphasizes that the trade in services ofArmenia is vulnerable and very dependent on external shocks.The results show that Armenia needs to diversify the geographic and sectorial structure of its trade in services to reach long-term sustainability and reduce the negative impact of external shocks.