EDB: Russia-led economic union’s trade up 12.8 percent

December 26, BPN. Trade among the member-states of the Eurasian Economic Union (EAEU) grew by 12.8 percent year on year to about $67 billion from January to October, the Eurasian Development Bank (EDB) said in its recent weekly macroeconomic report.

The EDB analysts linked the increase to changes in production and supply chains that opened up new opportunities for some EAEU economies.

Armenia, Kyrgyzstan, and Kazakhstan significantly increased their exports to Belarus and Russia:  Kyrgyzstan’s exports to Belarus doubled and Armenia’s almost tripled. 

The EDB projected a 12-percent increase in trade within the EAEU to $80-83 billion by the end of 2022.