Armenia’s exports to Russia, Kazakhstan, Kyrgyzstan and Belarus , which all make the Eurasian Economic Union (EEU), have increased about 10 times since the creation of the organization, said Ashot Tavadyan, head of the Center for Economic Research.
“In 2015, the EEU accounted for about 15% of Armenia’s total exports. In 2021, this figure reached 29.3%, and in 2022 it surged to 46.8%,” Tavadyan said at a last week discussion on Eurasian integration.
He recalled that Russia is Armenia’s main trade partner, and the share of Armenian exports to Russia is the most diversified with the bulk being finished goods.
Tavadyan said exports substantially increased to all EEU member countries. For instance, exports to the Russian Federation have grown 2.9 times, toh Kazakhstan – 2 times, to Belarus – 2.6 times and to Kyrgyzstan – 2.2 times.