Trade in the EAEU accelerated in January-August 2022, data from Armenia, Kazakhstan and Kyrgyzstan show, the Eurasian Development Bank's Telegram Channel reported.
The cumulative trade turnover between these countries and the EAEU increased by 13% YoY (11.3% in January - July). Armenia, Kazakhstan and Kyrgyzstan increased their trade with EAEU partners by $2.6 billion, including with Russia by $2.4 billion. Armenia increased its trade with the Union by $1.2 billion, Kazakhstan and Kyrgyzstan by $0.7 billion.
Separately on the dynamics of Armenia's trade. Russia has been the main contributor to the increase in volumes (40%). Export to Russia increased by $0.5bln. due to replacement of European supplies (foodstuffs, machinery, equipment etc.). The role of the EAEU in Armenia's foreign trade is growing. The Union's share in the value volume increased to 35.5% in January-August 2022 (34.6% the previous month).
Armenia's January-August trade with Kazakhstan increased 2.6-fold YoY, 2.4-fold with Belarus, 1.9-fold with Kyrgyzstan, and 1.7-fold with Russia. During this period, Armenia caught up with Kyrgyzstan in terms of trade with the EAEU.