Trade turnover between Russia and Armenia may grow by 60% in 2023 – Kerobyan

The Armenian-Russian trade is very likely to surge by 60% in 2023 (as opposed to 2022), Armenian Economy Minister Vahan Kerobyan told TASS.

The minister specified that last year Armenia’s trade turnover with Russia grew to $5 bln and this year there is an impressive growth of indicators.

“Armenia economy is growing at double-digit rate now and I think the trade with Russia will grow by 50-60% at the end of the year,” Kerobyan concluded. The minister emphasized that Russia is the number one trade partner for Armenia.

According to Armenia’s National Statistical Committee, Armenia’s foreign trade turnover in January-May 2023 soared by almost 87% year-on-year to over $7.3 billion. The trade with Russia grew by 2 times during this time span to over $2.5 billion.

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