Spokesperson: Armenia’s exports to plummet 80% if it leaves EAEU

Armenia’s exports could shrink by 80% if the country exits the Eurasian Economic Union (EAEU), and replacing these losses with alternative markets would be impossible even in the medium term, said Russian Foreign Ministry spokesperson Maria Zakharova.

Zakharova highlighted that since Armenia joined the EAEU in 2015, its exports have increased tenfold, largely due to trade with Russia. She noted that Armenia’s trade turnover with Russia alone neared $12 billion last year, Caliber.Az reports per Russian media.

"In 2023, trade turnover with Russia reached $3.4 billion. And this is not charity, not humanitarian aid given ‘from a position of privilege,’ but money honestly earned by Armenian producers. This is an incentive for Armenia’s economic growth," Zakharova stressed.

While acknowledging that Armenia, as a sovereign state, has the right to determine its own foreign policy direction, Zakharova urged Yerevan to consider the practical consequences of such decisions without excessive politicization.

"Let’s be clear—nobody in Europe or the United States is waiting for Armenian goods. If they were, they would have already been buying them. What’s stopping them? If they truly wanted to support Armenia and if its products were indispensable, they would be purchasing them right now," she remarked.

Zakharova also pointed out that in 2024, Armenia’s trade with the EU and the US has declined significantly and remains approximately six times lower than its trade with Russia.

By Aghakazim Guliyev