Eurasian Economic Union 2024 GDP Growth Expected To Be 4.2%

The Eurasian Economic Commission, the secretariat of the Eurasian Economic Union (EAEU), expects the 2024 EAEU GDP growth to be 4.1%, according to the EEC’s press service.

The statement read “A positive trend in the growth of gross domestic product continued to be observed in all countries of the Eurasian Economic Union in 9M 2024. In Armenia, growth was at 6%, in Belarus – 4.5%, in Kazakhstan – 4.1%, in Kyrgyzstan – 8.4% and in Russia – 4.2%. The EAEU’s GDP growth rate in this period increased by 4.2%.” it said.

The main sources of economic growth for all EAEU countries were wholesale and retail trade, the manufacturing industry and construction, the EEC said. High rates of economic growth were supported in Armenia by real estate transactions, agricultural trends in Belarus and Kazakhstan and financial and insurance activities in Russia and Kyrgyzstan.

The 2024 GDP growth rate for the European Union, which borders Belarus and Russia to the west, is expected to be 0.8%.