Armenia’s exports to EAEU grow by two times

YEREVAN, NOVEMBER 3, ARMENPRESS. The volume of exports from Armenia to the member states of the Eurasian Economic Union (EAEU) comprised 1.1 billion dollars in the first 8 months of this year, which is an increase by 2 times compared to the same period of the previous year, Minister of Economy Vahan Kerobyan said during the debate of the 2023 state budget draft in the joint session of the parliamentary standing committees.

“According to the data of the Statistical Committee, in the first 8 months of 2022 Armenia’s trade turnover with the EAEU countries comprised 2.778 billion dollars, which has increased by 74.1% compared to the same period of the previous year. It comprised around 1.6 billion dollars in January-August 2021. In January-August 2022 the export from Armenia to the EAEU countries comprised 1.1 billion dollars, which has increased by two times compared to the same period of the previous year. The import from the EAEU countries comprised 1.67 billion dollars, which has increased by 58.7% compared to the same period of the past year”, the minister said.

In the first 8 months of 2022, Armenia’s trade turnover with Russia comprised 2.642 billion dollars, which is an increase of 71.7% compared to the same period of the past year. Moreover, the export grew by two times, and the import by 55.3%.

The trade turnover with other member states of the Union has also increased. The minister said the government has taken actions to promote the trade turnover with the other countries of the EAEU as well. “We have set a task before us to activate the relations with other member states of the EAEU as well, and make the EAEU more proportionate with its structure and trade turnover”, he said.

According to him, the change registered this year shows that activities on this direction have already given some result.