The Russian Trade Representation in Armenia forecasts an unprecedented increase in bilateral trade turnover, potentially reaching $15 billion by the end of 2024.
In the first ten months of this year alone, the volume of mutual trade has already approached $11 billion, significantly surpassing the total figure of $7.3 billion for 2023.
The trade relations between the two countries have shown rapid growth in recent years. In 2015, trade turnover stood at just $1.3 billion, exceeding $2 billion by 2019, with a sharp upward trajectory beginning in 2022.
Particularly notable is the growth in Armenian exports to Russia: from the traditional range of $600-700 million, exports have surged to $3.2 billion and are expected to grow further to $4.8 billion by the end of 2024.
