Trade between Armenia and Russia almost doubled to nearly $5 billion in 2022 - Lavrov

YEREVAN, March 20. /ARKA/. In 2022, the trade between Armenia and Russia almost doubled to nearly $5 billion, Russian Foreign Minister Sergey Lavrov said at a meeting with Armenian Foreign Minister Ararat Mirzoyan today in Moscow.

"Russia is Armenia’s major trade partner, a leading investor in the Armenia's economy," Lavrov said, adding that settlements between the countries are still made in US dollars. "But this is temporary,» he said.

"Armenia-based Russian companies are also major contributors to Armenia's budget. The intergovernmental commission, led by Deputy Prime Ministers Overchuk and Grigoryan is actively working. And of course we are interested in strengthening the common educational, scientific and linguistic space. We are ready to work together to create and promote humanitarian ties and communication between our countries," the Russian Foreign Minister said.

Mirzoyan, in turn, said that Yerevan is ready to continue making every effort for deepening and increasing the mutually beneficial cooperation between the two countries.

According to Armenia’s National Statistical Committee, trade turnover between Armenia and Russia in January-December 2022 amounted to $5.03 billion, a 91.7% rise over 2021. Armenia's exports grew 2.4-fold year-on-year to $2.4 bln, while imports reached $2.9 bln, recording a 43.9% increase compared to January-December 2021.

Armenia recorded a 12.6% economic growth in 2022, the highest growth over the past 15 years, with state budget tax revenues totaling 1.926 trillion drams, 768 billion drams ($2.02 billion or 66.3%) more than in 2017, and 670 billion drams ($1.82 billion or 53%) more than in 2018. -0-