Eurasian Economic Union (EAEU) member states Kazakhstan, Kyrgyzstan, and Armenia have increased imports from the European Union by $5.8 billion during the past year and a half since the onset of the Ukraine war. Concurrently, exports from EAEU countries to Russia have risen by $6.3 billion.
In 2021, the EAEU’s imports from the EU were approximately $7.1 billion, which grew by 45% in 2023, reaching $13 billion. Similarly, exports from EAEU countries (excluding Belarus) to Russia increased from $8.2 billion in 2021 to $14.5 billion in 2023, marking a 43% rise.
The largest percentage increase in EU imports occurred in Armenia, with a 49% growth—from $931 million in 2021 to $1.8 billion in 2023. Kazakhstan’s imports from the EU reached $5.9 billion in 2021, rising to $10.3 billion in 2023, a 42.2% increase. Kyrgyzstan’s imports saw a 70% surge, from $295 million in 2021 to $964 million in 2023.
Exports from Armenia to Russia rose from $840 million in 2021 to $3.5 billion in 2023. In Kazakhstan, exports to Russia increased from $7 billion to $10.2 billion over the same period, while Kyrgyzstan’s exports grew from $393 million to $823 million.
Belarus has not released specific statistics, but its trade volume with the EU dropped from €12 billion in 2021 to €9.5 billion in 2023.
The total trade between Kazakhstan, Kyrgyzstan, and Armenia with the EU reached $44.5 billion in 2023. As of January-August 2024, only Kazakhstan and Kyrgyzstan have reported trade data. In 2021, the combined trade with Russia from these three countries amounted to $23 billion, which increased to $38 billion in 2023.
Among the EAEU countries, Kyrgyzstan recorded the highest percentage increase in trade with the EU at 64.4%, followed by Armenia at 40.2% and Kazakhstan at 27.2%.
Before the Ukraine war, Russia’s primary trade partners within the EU were Germany (€56.9 billion), the Netherlands (€46.4 billion), and Italy (€31.3 billion). Over the past two years, however, Armenia, Kazakhstan, and Kyrgyzstan have been increasingly expanding their trade with these countries.
In Armenia and Kyrgyzstan, trade with Germany has grown compared to 2021 levels, while trade with Italy increased in both Kazakhstan and Armenia. In 2021, Kazakhstan’s trade volume with Italy stood at $9.6 billion, growing to $16 billion in 2023. Armenia’s trade with Italy rose from $287 million in 2021 to $417 million in 2023.
Despite the growth in trade between Kazakhstan, Kyrgyzstan, Armenia, and the EU, it does not compensate for Russia’s losses in European trade. In 2023, the EU-Russia trade volume amounted to €88.9 billion, down by 65.5% from €170 billion.