Eduard Enfiajyan The Eurasian Economic Union created on the basis of the Customs Union and consisting of Russia, Kazakhstan, and Belarus has not lived up to the hopes laid on it. Instead of strengthening mutual trade among the participating countries, a decline of foreign economic indicators is observed in 2014. Mutual trade volume among the countries of the Customs Union and those of the Common Economic Space accounted for USD 37,7 billion as of from January to August, 2014, as official statistics shows. It is 11% less than for the same period of the previous year. Decrease in mutual trade accounted for USD 490 million in monetary terms. Trade relations in Russia-Kazakhstan line have shown the greatest fall. The fall over a period of 8 months accounted for 22,1% here that is USD 2,7 billion in monetary terms. Belarus-Kazakhstan pair is the second in falling level, where mutual trade has decreased by 6%, accounting for only USD 33 million in monetary terms, as trade level between the states is not high. Mutual trade between Belarus and Russia has decreased a little less. The fall over a period of 8 months accounted for 4,6%. It is USD 1,16 billion in monetary terms. None of the states has increased its export to the EAEU countries over this period. Dynamically, the greatest fall accounted for Kazakhstan’s export to Belarus (-55,7%), while the least – for Belarus’s export to Kazakhstan (-1,9%). The picture looks different in monetary terms. ------------------------------------ I wonder how it will reflect on Armenias economy. Truly, Garegin Nalbandian
Posted on: Fri, 14 Nov 2014 06:44:24 +0000
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