Armenia-Russia Trade Hits Record $14 Billion, Lavrov Attributes Growth to EAEU
Moscow/Yerevan: Trade turnover between Armenia and Russia has reached a record $14 billion, Russian Foreign Minister Sergey Lavrov announced, crediting Armenia’s membership in the Eurasian Economic Union (EAEU) for the growth.
Speaking at a press conference summarizing Russia’s diplomatic activities in 2025, Lavrov highlighted that “thanks to the fact that the EAEU provides Armenian goods with free access to the markets of other member countries, Armenia’s foreign trade turnover, primarily with the Russian Federation, has reached record levels, currently amounting to $14 billion, a level never seen before.”
Lavrov recalled that Armenia joined the EAEU as a full member in 2015, when its GDP stood at $10.5 billion. He noted that the country’s GDP has since risen to $26 billion.
“Armenia’s GDP has more than doubled since its membership in the Eurasian Economic Union. It is difficult to ignore the figures that characterize Armenia’s economic development over the past 10 years,” the Russian Foreign Minister said.
However, data from the Statistical Committee of Armenia indicates that trade turnover between Armenia and Russia for the first 11 months of 2025 fell to $6.71 billion, a 42.7% decline compared with the same period in 2024. The drop was largely attributed to a significant reduction in the re-export of Russian gold and gems, mainly to the UAE.
Despite the temporary decline in specific sectors, Russia emphasized that Armenia’s integration into the EAEU continues to deliver long-term economic benefits, providing free market access and boosting overall trade relations between the two countries.
