The export from Armenia to other countries of the Eurasian Union grew by 156 percent in the period from January to November 2016.

Member of the Board (Minister) of the Member of the Board - Minister in charge of the Development of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), Tatyana Valovaya, stated the aforementioned at a press-conference on Monday.

In fact, Armenia recorded trade growth not only with Russia, but also with other EAEU countries, which shows that the multi-lateral cooperation is deepening inside the Union. Thus, the export to Russia grew by 154 percent, while that with Belarus and Kyrgyzstan increased by 2.3 and 3.4 times respectively. 

Of course, according to Valovaya, the trade between Armenia and these two countries is not big yet in absolute figures, but such a growth can suppose that the Union states are enhancing their cooperation not only with Russia but also with each other. The overall turnover of mutual trade between the Union states dropped in 2016 too, but much less. The decline amounted to 30.4 percent in 2015, and only 10.8 percent during the eleven months of 2016.

In 2016, the growth of export from Armenia to Russia was of a recovering nature after the drop in 2015. During eleven months the export to Russia grew up to $337.3 million. The export to Belarus and Kazakhstan reached 13.6 and 5.6 million respectively. No significant volumes were exported to Kyrgyzstan.