Armenia ranks 1st among EAEU member states in terms of economic growth and investments increase

The Eurasian Economic Commission (EEC) has published the main social-economic indexes of the EAEU member states for the period of January-April. ARMENPRESS reports in January-March 2019 the GDP growth in EAEU member states amounted to 0.9%. The highest growth has been recorded in Armenia – 7.1%, the next is Kirgizstan – 5.3%. In the mentioned period investments grew by 1.4% in the Union and here also Armenia has recorded the highest growth – 10.8%.

In January-April of 2019 the EAEU has recorded growth in all economic indexes with the exception of mutual trade.

In the mentioned period industrial output amounted to 384.9 billion USD in the Union, which is an increase of 2.8% against last year. Russia’s share in the total industrial output of the Union amounts to 88.5%, Kazakhstan’s share is 6.4%, Belarus’s share is 4.5%, while Armenia’s and Kirgizstan’s share is 0.3%.

EAEU’s agricultural output has increased by 1.3%. Here Kazakhstan has recorded the highest growth – 3.6%. Agricultural output in Belarus has declined by 0.6%.

Construction in the Union grew by 0.7% in the mentioned period. Kirgizstan and Armenia recorded decline in this sphere – 1.6 and 10.7% respectively.

Mutual trade between EAEU member states declined by 7% in the 1st quarter of 2019 against the same period of the last year, while external trade volume remained unchanged – exports grew by 1.4% and import declined by 2.6%.

The main export product of the EAEU is ores (68.7%), while vehicles and equipment are the main imported goods (41.8%).

Leave a Reply

Your email address will not be published. Required fields are marked *