Armenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MP

ArmInfo. The Armenian authorities' ignoring Russia's key role in the development of the  country's economy is in conflict with its national interests, opposition Armenian MP Tadevos Avetisyan wrote in his article. 

He cited statistical data showing that economic growth in Armenia is  largely due to the Russian factor. In particular, the parliamentarian  noted that in 2022, the total volume of Armenian exports amounted to  $5.42 billion, and exports to Russia - $2.463 billion, or 45.5% of  the total volume. Compared to 2021, in 2022 the total exports of the  Republic of Armenia increased by 80%, and exports to Russia increased  3 times, which is approximately 3.75 times higher than the average  growth rate of exports from the country.

A similar situation is observed this year. In January-September 2023,  total exports amounted to $5.12 billion, and exports to Russia  amounted to $2.645 billion, or 52% of the total. Compared to January-  September 2022, over the same period in 2023, total exports from the  country increased by 45%, and exports to Russia by 85% or $1.215  billion, which is approximately 1.9 times higher than the average  growth rate of RA exports. The deputy noted that in 2023, the share  of exports to the Russian Federation in the total volume of exports  of the Republic of Armenia increased by 6.5% points.

Against this background, Tadevosyan continued, the authorities'  ignorance of the Russian factor could lead to risks associated with  the long-term and stable economic development of Armenia.