EAEU remains Armenia’s key economic partner: analysis

The Eurasian Economic Union (EAEU) remains Armenia’s key economic partner, accounting for about 36% of its foreign trade turnover. This is shown by data from a study by the Eurasian Rating Agency, which TASS has obtained.

“The EAEU remains Armenia’s key economic partner, accounting for about 36% of the republic’s foreign trade turnover. Mutual trade showed steady growth in 2025, despite an overall decline in trade turnover due to reduced re-export flows,” the document says.

It also notes that Russia retains a dominant position in investment cooperation and in remittances from individuals (64.9% of the total volume), although both indicators show a trend toward gradual decline. At the same time, the price advantage of Russian gas is a critically important factor in the competitiveness of the Armenian economy, while participation in the formation of common EAEU energy markets opens up new opportunities for electricity exports.

The authors of the study stress that the customs duty distribution system provides Armenia with a stable flow of budget revenue, although the republic’s share (1.22%) remains the smallest among EAEU member states. In addition, they point out that the industrial cooperation mechanisms launched in 2025 and preferential trade agreements with third countries create additional incentives for integration development.

“The geopolitical dilemma (rapprochement with the EU while retaining EAEU membership) is the most serious challenge, requiring the Armenian leadership to seek balanced solutions,” the authors of the document conclude.