Armenia and Russia record a record increase in mutual trade

The trade turnover between Armenia and Russia in the first half of this year amounted to a record $1.9 billion.

Armenia and Russia record a record increase in mutual trade

Deputy Prime Minister of the Transcaucasian Republic Mher Grigoryan announced this today, September 20, during the Armenian-Russian business forum that opened earlier in Yerevan on Monday.

In 2019, bilateral trade for the first time exceeded $2 billion, and in 2020, when the crisis erupted in connection with the global pandemic of the coronavirus infection Covid-19, there was only a slight decline in the mutual trade between Armenia and Russia, Mher Grigoryan noted.

Compared to last year, the growth in turnover was 16%. At the same time, the volume of exports from Armenia to the Russian Federation increased by 36%, and import operations in the Russian direction – by 6%. An increase in Armenian exports was recorded in such industries as mechanical engineering, light, food, and chemical industries.

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