EEU' member states’ mutual trade almost doubles to $83.3 billion since its creation

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08.08.2023, 10:23

The trade among the members of the Eurasian Economic Union (EEU, Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia) has almost doubled since the creation of the organization.

EEU' member states’ mutual trade almost doubles to $83.3 billion since its creation

YEREVAN, August 8. /ARKA/. The trade among the members of the Eurasian Economic Union (EEU, Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia) has almost doubled since the creation of the organization.

"Over 2015-2022, the mutual trade of the EEU member states increased by 87% from $44.5 billion to $83.3 billion, while their trade with other countries grew by 59%," the Eurasian Economic Commission, the executive arm of the EEU, said in a report.

The EEU ranks first in the world in oil production, second in natural gas production and production of mineral fertilizers, and third in production of wheat, potatoes and livestock products.

Since the creation of the union, its members’ GDP has grown by 7.3% to about $2.6 trillion, the agricultural output has grown by 26% to $170 billion, and industrial output has upped by 16.9% to over $1.6 trillion). -0-

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