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Economy
10 December 2021, 17:48

EAEU economic rebound gains momentum

MOSCOW, 10 December (BelTA) - The economy of the Eurasian Economic Union (EAEU) demonstrates active recovery, official representative of the Eurasian Economic Commission (EEC) Iya Malkina told a briefing on 10 December, BelTA has learned.

“The economy of the Eurasian Economic Union is recovering well this year. In January-September 2021, according to our estimates, EAEU's GDP increased by 4.4% compared to the same period last year. The GDP growth accelerated thanks to the outstripping growth of industrial production, increase in the growth rate of construction industry, activation of retail trade, active foreign trade and revival of transport industry,” said Iya Malkina.

Mutual trade in the EAEU reached $52 billion in January-September 2021, up 32.5% from January-September last year. “The level of the pre-COVID period of 2019 was exceeded by 16.5%,” the EEC official representative stated.

Foreign trade with countries outside the EAEU increased by almost 33% and amounted to $596 billion. “Exports grew faster than imports (39% vs. 24% respectively). The pre-COVID level was exceeded by almost 11%,” Iya Malkina said.

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