Armenia’s posts highest retail trade growth rate in EEU

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Economy

22.08.2023, 15:33

In the first six months of 2023 Armenia was ahead of all Eurasian Economic Union (EEU) member countries in terms of retail trade growth, according to an EEU review on the main socio-economic indicators.

Armenia’s posts highest retail trade growth rate in EEU

YEREVAN, August 22. /ARKA/. In the first six months of 2023 Armenia was ahead of all Eurasian Economic Union (EEU) member countries in terms of retail trade growth, according to an EEU review on the main socio-economic indicators.

Thus, in January-June this year, Armenia’s retail trade upped 9.9% compared to the same period last year. In Belarus the growth was 4.6%, in Kazakhstan - 8.8%, in Kyrgyzstan - 6.1% and in Russia - 1.1%.

EEU member states’ overall retail trade was up 1.7% in January-June 2023 compared to January-June 2022.

According to Armenia’s National Statistical Committee, the country’s domestic trade in the first half of this year amounted to about AMD 2.3 trillion (in current prices), increasing by 23.6% compared to the same period of 2022.

Wholesale trade turnover amounted to 61.1% of the total worth AMD 1.4 trillion, while retail trade’s share grew to 33.8% worth AMD 770.8 billion. Also, sales of vehicles raised AMD 115.8 billion (share - 5.1%). -0-

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