Re-export provided the bulk of the increase in exports from Armenia to Russia

Of the 85% increase in exports from Armenia to Russia from January to September 2023, 80% was achieved through re-exports. This was announced by Deputy Minister of Finance of Armenia Vahan Sirunyan.

“Over the nine months of 2023, almost 85% growth in exports of goods to Russia compared to the same period last year was significantly contributed by re-exports – about 80.6 percentage points. Export of goods of Armenian origin contributed to growth by only 4.4 percentage points,” said Mr. Sirunyan (quoted from Armenpress).

He added that due to the conflict on the territory of Ukraine, the influx of people and capital from Russia to Armenia continues. According to the deputy minister, the tourist flow in the first nine months increased by almost 50% compared to the same period last year. Almost a third of all tourists are Russian citizens.

At the beginning of August at the Russian Foreign Ministry reported, that trade turnover with Armenia from January to May 2023 increased by 86% compared to the same period of the previous year. For the entire 2022, as Russian Prime Minister Mikhail Mishustin said on June 7, the countries’ trade turnover increased by 96%, to 140 billion rubles.

Petr Buzlaev