Time in Yerevan: 11:07:36,   15 December

Armenia-Russia exports grow 250% during EEU membership

YEREVAN, FEBRUARY 24, ARMENPRESS. 2017 was successful for the Armenian economy both in terms of certain domestic tendencies and deepening of integration processes within the framework of the EEU, the Eurasian Expert Club said in an economic research.

The research was presented at a press conference on February 2 4.

The research says that Armenia’s 2017 economic activity indicator grew by 7,7% against 2016, which is the highest indicator in the region.

“The high growth of economic activity was provided by the industry, which increased by 12,6% against last year’s same period, trade volumes by 14%, service growth by 14,4% and 2,2% through restoring the construction sphere. The exports growth of certain products and industrial products increased significantly, especially to EEU countries. Only to Russia a record growth was recorded in terms of wine exports. More than 80% - 1 million liters – of Armenian wine export in previous years comprised the Russian market, and exports to Russia increased by 68,1%. The total volume of exports from Armenia to Russia during the period of Armenia’s membership to the EEU grew more than 250%”, the research says.

In 2017, Armenia had a record volume of exports – 2,2 billion dollars, which is 25,2% more than in 2016 – the highest growth of the last 5 years.

As a result, Armenia’s foreign trade turnover in yearend 2017 comprised 6,4 billion dollars – a growth of 26,9%.

The Eurasian Expert Club also mentioned that Armenia has increased exports to CIS countries by 40,3%, and 32,2% to EU countries.

Imports grew by 27,8% - over 4 billion dollars.

In 2017, investment capital worth 856 million dollars was attracted to Armenia under different projects.

The government announced in 2017 that investment projects worth 5,3 billion dollars are present.

According to other official data, an additional 190 billion drams have been invested.

English –translator/editor: Stepan Kocharyan

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