The Eurasian Economic Commission (EEC) has highlighted the sustained economic growth of the Eurasian Economic Union (EAEU) member states, with all countries showing promising GDP performance over the first nine months of this year.
According to the EEC, Armenia’s GDP expanded by 6%, Belarus by 4.5%, Kazakhstan by 4.1%, Kyrgyzstan by 8.4%, and Russia by 4.2%. Collectively, the EAEU’s overall GDP growth during this period stood at 4.2%.
Key drivers of this growth included robust activity in wholesale and retail trade, manufacturing, and construction across the bloc. Additionally, sector-specific boosts were observed: Armenia benefited from real estate transactions, agriculture spurred growth in Belarus and Kazakhstan, while Kyrgyzstan and Russia saw gains in financial and insurance services.
Looking ahead, the EEC anticipates the Union’s GDP to grow by 4.1% by the close of 2024, underscoring the region’s resilience and economic potential.
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