EEU member states’ trade in 2022 expected to grow by 12%

Trade volume among EEU member states in 2022 is expected to grow by 12% year-on-year to $80-83 billion, the Eurasian Development Bank (EDB) said.

According to EDB analysts' estimates, in the first 10 months of 2022, the volume of trade among EEU member states was about $67 billion (an increase of 12.8% y/y).

"Changes in production and logistics chains have created new opportunities for some EEU economies. For example, Armenia's exports to Belarus and Russia grew by 2.8 and 2.5 times respectively in the first 10 months of 2022, while Kyrgyzstan's exports to these countries increased by 2.0 and 2.6 times, respectively. Exports of Kazakhstan increased 1.2 times to each of the countries," the EDB said.

According to Armenia’s National Statistical Committee, the country’s s trade turnover with the EEU countries over the ten months of this year totaled nearly $4 billion, an increase of 88% over the same period last year. Armenia's exports to EEU countries totaled about $1.8bln having increased 2.5 times and imports - $2.4bln (50.8% growth). -0-