Russian-Armenian trade hits record $4.1 b in Jan-Nov 2022

17:03 Mon, 27 March

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03.Feb .2023 11:28

Russian-Armenian trade hits record $4.1 b in Jan-Nov 2022

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The Russian-Armenian trade in the first 11 months of 2022 surged by 77% compared to the same period of 2021 to over $4.1 billion, Russian Prime Minister Mikhail Mishustin said at a meeting with Armenian Prime Minister Nikol Pashinyan on the sidelines of an EEU gathering in Kazakhstan’s Almaty.

Mishustin also underlined that the volume of accumulated Russian investments in Armenia is about $2 billion.

According to the National Statistical Committee, Armenia's foreign trade in January-December 2022 reached about $14.2billion, which is 68.8% higher than in 2021.

Armenia's exports rose 77.7% to over $5.3 billion, while imports rose to about $8.8 billion, recording a 63.5% increase.

Mishustin said also that the departure of some Western companies from Russia has opened new prospects for Armenian companies. He said there are new prospects for launching joint projects in such areas as industrial integration, peaceful atom, energy, mining, transport, logistics and digital technology.

According to the Russian Prime Minister, more than 40 leading Russian companies operate in the Armenian market, ARKA reports.