Against the background of the decline in mutual trade in 2020, external factors such as the slowdown in world trade and industrial production growth, Armenia’s economy had a considerable increase in mutual trade with the other EEU countries. The Prime Minister of Armenia, Nikol Pashinyan, stated about this at Friday’s session of the Eurasian Intergovernmental Council.

According to him, in 2021, Armenia’s trade with the other EEU member countries increased by 20.6%, and amounted to $2.7 billion, compared to the previous year.

He added that exports from Armenia to other EEU countries increased by 25.2% in the same period. At the same time, the growth rates of exports in mutual trade are higher than those of Armenian products being exported to third countries.

As per Pashinyan, the best respective growth rates were provided by fresh and processed agricultural products, alcoholic and non-alcoholic beverages, textile and footwear industry, as well as a number of other industries in demand in EEU member states.

"Along with the growth of the volume of exports, the import indicators from the [other] Union [member] countries to Armenia have also increased. According to the country of origin of the product, the import has increased by 18.5%," Pashinyan added.