Armenian exports to EAEU double

Armenian economy minister Tigran Khachatryan has said that the country’s exports to the Eurasian Economic Union (EAEU) have doubled since Armenia joined the Russia-led economic alliance with Belarus, Kazakhstan, Kyrgyzstan in January 2015.

“[The] EAEU has opened great opportunities for Armenia’s economy. We have made some comparisons as of late 2014 [before Armenia’s membership to the bloc] on the quantitative figures of our relations with the member states. And we can state that the trade turnover volumes between Armenia and the other EAEU states has increased by 34.5 per cent. Moreover, in the same period the exports from Armenia to the EAEU states has grown 2.1 times,” Mr Khachatryan said during a parliamentary hearing on Armenia’s 2019 chairmanship of the economic union.

The economy minister added that exports from Armenia to the EAEU had increased by 20.7 per cent in 2018, including the exports of final consumption goods.

According to the Armenian press, the bulk of the exports were made up of industrial and agricultural goods including alcoholic drinks, diamonds, fresh and frozen vegetables, fruits, tobacco, jewellery, pharmaceuticals and construction materials.