Armenia's trade with Russia increases by almost 75%

Armenia's trade with Eurasian Economic Union (EEU) member countries (Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia) in the first eight months of this year amounted to almost $2.8bln, having soared by 74.1% year-on-year, Economy Minister Vahan Kerobyan said in the parliament today.

He said Armenian exports nearly doubled from the year before to $1.1bln, while imports grew by 57.7% to $1.67 billion.

Kerobyan stated that Russia accounted for most of the trade turnover - $2.642 billion, which is 71.7% more than in the frist 8 months of last year.

"At the same time, Armenian exports to Russia doubled and imports from Russia increased by 55.3%," Kerobyan said.

Armenia's overall foreign trade in the first 8 months of 2022 surged to over $7.8 billion, having grown by 56.2% from the first 8 months of 2021, according to the numbers, released earlier by the National Statistical Committee (NSC).