Kyrgyzstan, Kazakhstan and Armenia increased imports from EU countries

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Russia's partners in the Eurasian Economic Union (EAEU) - Kazakhstan, Kyrgyzstan, and Armenia - increased their imports from the EU by $5.8 billion over a year and a half of the war in Ukraine. Meanwhile, exports from the EAEU countries to Russia grew by $6.3 billion, according to The Moscow Times, which analyzed data from the statistical agencies of these three countries.

According to the publication, in 2021, EAEU countries’ imports from the EU amounted to approximately $7.1 billion; by 2023, this figure increased by 45%, reaching $13 billion. In 2021, EAEU exports (excluding Belarus, also under sanctions) to Russia were around $8.2 billion, and by 2023, they rose by 43%, reaching about $14.5 billion.

In percentage terms, imports from the EU to Armenia grew the most (by 49%). In 2021, goods worth around $931 million were imported, while in 2023, this increased to $1.8 billion. Kazakhstan’s European imports in the pre-war year reached $5.9 billion, and in 2023, this figure increased by 42.2% to about $10.3 billion.

Kyrgyzstan’s imports from the EU in 2021 amounted to only about $295 million, increasing by 70% to around $964 million in 2023.

Exports from Armenia to Russia in 2021 were approximately $840 million, and in 2023 they grew by 76%, reaching $3.5 billion. Kazakhstan's shipments to Russia in 2021 amounted to $7 billion, increasing by 31.2% to $10.2 billion in 2023.

Kyrgyzstan’s exports to Russia in 2021 were about $393 million, and in 2023, they increased by 52%, reaching about $823 million.

The Belarusian statistical agency has not published detailed reports on foreign economic activity since 2021. According to Eurostat data, trade turnover between Belarus and EU countries is declining. In 2021, it was over €12 billion, but in 2023, it decreased by 23.6% to €9.5 billion.

The trade turnover of Kazakhstan, Kyrgyzstan, and Armenia with the EU in 2023 amounted to $44.5 billion, which is 28.7% higher than in the pre-war year of 2021. Data for January–August 2024 was published only by Kazakhstan and Kyrgyzstan. During this period, their trade turnover with the EU already amounted to nearly $33 billion. The trade turnover of Kazakhstan, Kyrgyzstan, and Armenia with Russia in 2021 was $23 billion, growing by 37.7% to $38 billion in 2023, according to statistical agencies’ data.

Kyrgyzstan had the highest percentage increase in trade turnover with the EU, at 64.4%.

Armenia was in second place with a growth of 40.2%, followed by Kazakhstan, whose trade turnover increased by 27.2%. In absolute figures, Kazakhstan was the leader in trade turnover with the EU - by the end of 2023, its trade turnover amounted to $41.3 billion, which is 92.8% of the EU’s trade turnover with EAEU members not under sanctions.

CentralasianLIGHT.org

November 14, 2024