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Armenia's exports to Russia rise 3.3-fold in 5 months of 2023 – Russian Foreign Ministry

According to the agency, in January-May 2023, the trade turnover between the two countries increased by 86%

MOSCOW, August 4. /TASS/. Russian-Armenian trade turnover increased by 86% in January-May 2023 compared to the same period last year, while Armenian exports to Russia grew by a record 3.3-fold , Director of the Russian Foreign Ministry's Fourth Department for CIS Countries Denis Gonchar said in an interview with TASS.

"Last year mutual trade broke all records and reached $5 billion. This year, too, we see favorable dynamics: from January to May, trade increased by 86% compared to the same period last year, reaching $2.3 bln. At the same time, Armenian exports to Russia increased by a record 3.3-fold , which allows us to talk about the importance of the Russian market for Armenian producers," Gonchar said.

He stressed that Armenia is one of the main beneficiaries of EAEU membership. "In 2022, the volume of Armenian exports to the countries of the Union increased by $1.6 bln - almost three times more than in 2021, while the growth rate of exports in mutual trade with EAEU members is higher than the rate of increase in the supply of Armenian products to third countries," Gonchar noted.

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