At the parliamentary session on June 13, Armenian Prime Minister Nikol Pashinyan announced his decision to no longer visit Belarus. This statement has heightened tensions between the two countries, which are both members of the same military-political and economic blocs — the CSTO and the EAEU.
Although Armenia and Belarus are part of the unified trade and economic space of the EAEU, which allows for the free movement of goods, capital, labor, and finances, economic ties between Yerevan and Minsk are not significant in the overall volume of their foreign trade.
According to the Statistical Committee of Armenia, the trade turnover between the two countries in January-April 2024 amounted to $50 million, which is 25.3% lower than the same period last year. During this period, the share of trade with Belarus in Armenia’s total foreign trade volume also decreased.
In the first four months of this year, this share was 0.4%, compared to 1.1% last year. This figure is even less significant for Belarus’s foreign trade. According to the National Bank of the Republic of Belarus, the country's foreign trade turnover for the first four months of 2024 amounted to $31.38 billion.
During the reporting period, Armenia exported goods worth about $30 million to Belarus, which is 9% lower than last year. Imports of Belarusian goods to Armenia amounted to $20 million, which is 37.5% lower than in the same period last year.
It is difficult to predict how and to what extent the deterioration of political relations between Armenia and Belarus will affect bilateral economic ties. However, given the insignificant volume of trade between the two countries, it is unlikely that there will be a substantial impact on the economies of Armenia and Belarus.
