The Ministry of Economic Development reported about the growth of mutual trade of the EAEU by 9.8% for 10 months of 2024
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- The Ministry of Economic Development reported about the growth of mutual trade of the EAEU by 9.8% for 10 months of 2024
The growth of mutual trade of the member countries of the Eurasian Economic Union (EAEU) increased by 9.8% in the first 10 months of 2024 and amounted to $78.6 billion, Deputy Minister of Economic Development Dmitry Volvach said in an interview with Izvestia.
"Last year we saw an increase in the growth rate of mutual trade in the EAEU. If at the end of 2023 this indicator grew by 6.7% - to $90.4 billion, then in the first 10 months of 2024 the growth amounted to 9.8% ($78.6 billion) in relation to the same period last year," he emphasized.
In addition, in 2023, the EAEU recorded economic growth of 3.8%. As noted by the Deputy Minister, these rates are higher than the global average. According to the results of the 2024th is expected approximately the same dynamics, but, he continued, it is important to emphasize that this is not a recovery growth, but a healthy trend that will continue in the future.
"For 2025, we make our forecasts somewhere at the level of 2.9%. In doing so, we rely on our estimates, on the estimates of the Eurasian Development Bank. But our main task is to continue working with our partners in all areas - through cooperation, through the removal of barriers, through finding new partners, creating new cooperation, investment projects and chains to exceed any forecasts a little," Volvach added.
Earlier, on December 26, 2024, Russian Minister of Economic Development Maxim Reshetnikov said that mutual trade between EAEU countries for nine months increased by 12.3% compared to 2023 and totaled 6.5 trillion rubles. According to him, an important step was the agreement on a unified system of customs transit of the EAEU and third countries, which was signed by the heads of the Union.
At the same time, he told Izvestia about the transition of the Russian Federation to settlements with partners in rubles. He noted the large trade turnover between the countries. Reshetnikov also shared that trade within the EAEU is stable and protected from external risks.