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Armenia’s export volumes to Belarus and Kazakhstan grow

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According to the results of the economic analysis conducted by the Eurasian Expert Club, Armenia’s export volumes to Belarus and Kazakhstan have increased in the first half of 2020 compared to the same period of 2019, Coordinator of the Eurasian Expert Club, political analyst Aram Safaryan said during a press conference․

“Even under the declining trends of overall figures, our economic export and import indicators in the Eurasian Economic Union (EAEU) inspire optimism. Our export has grown both to Belarus and Kazakhstan, after three-years growth in export to Russia we have a decline in export, but we have a major growth in import – 18%, we also have increase in import volumes from Belarus. There is a certain decline in import volumes from Kazakhstan, but after analyzing the export and import volumes of the past three years, it’s possible to expect that there will be 2-5% export growth in the 2nd half of the year”, he said.

The political analyst said Armenia needs to increase its export volumes. “In case when our country has three times more import than export, it’s highly important to increase the export volumes, the agricultural and industrial growth volumes aimed at the export. Improving the GDP-export ratio and making Armenia an exporting country with a healthier and firmer economic structure is possible only through export”, Aram Safaryan said.

The research conducted by the Expert Club showed that Armenia’s export volumes, compared to the first year of its membership to the EAEU, are more diversified now as the volumes of agricultural goods and reprocessing products have increased.

The Club members are confident that it is necessary to continue the export diversification.


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