EAEU in 2022

EAEU in 2022: preliminary results

Vladimir Chushkin, In 2009-2013 Head of the Trade Policy Department of the Secretariat of the EurAsEC Integration Committee. In 2013-2017 Advisor to the Director of the Department of Europe, North America and International Organizations of the Ministry of Economic Development of the Russian Federation.

The Department of Statistics of the Eurasian Economic Commission (EEC) has published preliminary results of the socio-economic development of the member states of the Eurasian Economic Union (EAEU) in 2022. The total gross domestic product (GDP) of the Union in 2022 amounted to 2041.8 billion US dollars (98.8% compared to the previous year, including GDP growth by 12.6% in Armenia, by 3% in Kazakhstan, in Kyrgyzstan - by 7.2%, and in Russia and Belarus, a decline in GDP was recorded by 1.6% and 4.8%, respectively.

External debt in the EAEU as a whole (cumulative) as of October 1, 2022, compared to the same period in 2021, decreased by USD 61.7 billion, or 8.6%. The reduction was observed in Belarus, Kazakhstan and Russia (by 1.9%, 3.2% and 11.4% respectively). Debt growth in Armenia was 0.4% and in Kyrgyzstan - 4.0%. High coverage of external debt by international reserves was ensured only in Russia (124.5%). In other EAEU member states, this figure ranged from 18.1% in Belarus to 26.8% in Armenia. As of October 1, 2022, compared to the corresponding date of the previous year, international reserves as a percentage of external debt decreased in all EAEU member states, except for Armenia.

The volume of industrial production in the EAEU member states at the end of the past year amounted to 1640.1 billion US dollars, or 99.4% compared to January-December 2021 (Russia accounted for 89.0% of the total industrial production of the EAEU, Kazakhstan - 6.4%, Belarus - 3.9%, Armenia - 0.4% and Kyrgyzstan - 0.3%). In the structure of industrial production of the EAEU the biggest weight had manufacturing industry (64.3%), but its share decreased by 1.3 percentage points compared to January-December 2021. The share of the mining industry and quarrying amounted to 27.4%. In total, the EAEU produced 620.1 million tons of crude oil in 2022, including gas condensate (1.67 million tons in Belarus, 84.1 million tons in Kazakhstan, 295.1 thousand tons in Kyrgyzstan and in Russia 534.0 million tons); 758.5 billion cubic meters m of natural gas (in Kazakhstan - 52.7 billion cubic meters, in Kyrgyzstan - 29.9 million cubic meters and in Russia - 672.4 billion cubic meters) and 558.6 million tons of coal (in Kazakhstan - 118 0 million tons, in Kyrgyzstan - 3.6 million tons and in Russia 437.0 million tons). Armenia and Belarus do not produce natural gas and coal.

In January-December 2022, agricultural production in farms of all categories in the EAEU increased by 9.4% compared to January-December 2021. Growth was observed in all EAEU member states.

The gross grain harvest (in weight after processing) in the EAEU in 2022 amounted to 186.8 million tons, which is 27.3% more than the previous year. A significant growth was noted in all EAEU member states (in Armenia - by 57.9%, Kyrgyzstan - by 36.4%, Kazakhstan - by 34.5%, Russia - by 26.7%, Belarus - by 18.9 %), which was due to an increase in the yield of grain and leguminous crops. The gross harvest of sugar beet in the EAEU in 2022 increased by 2.0%, the harvest of potatoes increased by 4.6% and vegetables - by 0.9%.

As of January 1, 2023. the number of cattle in the farms of all agricultural producers in the EAEU reached 32.6 million heads (0.5% more compared to the corresponding date of the previous year), of which 14.8 million cows (1.3% more) , pigs - 31.1 million (4.7% more), sheep and goats - 49.5 million (1.3% more). The production of the main livestock products increased: livestock and poultry for slaughter (in live weight) - by 2.1%, milk - by 1.7%, eggs - by 2.6%. An increase in the production of livestock and poultry for slaughter (in live weight) was noted in Kyrgyzstan and Russia - by 2.9%, in Kazakhstan - by 0.4%. An increase in milk production was observed in all EAEU member states, except for Armenia. The maximum growth in egg production was recorded in Kyrgyzstan - by 7.7%.

In the EAEU member states, in January-December 2022, 123.8 million square meters of total housing area were put into operation, which is 8.4 million square meters, or 7.2% more than in January-December 2021 . The growth of housing construction was noted in Armenia (by 17.9%) and Russia (by 11.0%). In January-December 2022, Russia accounted for 83.0% of the total volume of commissioned housing in the EAEU member states, Kazakhstan - 12.5%, Belarus - 3.4%, Kyrgyzstan - 0.9%, Armenia - 0, 2%.

In January-December 2022, the cargo turnover of all modes of transport of the EAEU member states amounted to 6.3 trillion. ton-kilometers, which is 2.7% less than in January-December 2021, and the volume of passenger traffic amounted to 19.5 billion people, which is 2.8% more than in January-December 2021. The largest index of prices and tariffs for services provided to the population in December 2022 compared to December 2021 was noted in Kazakhstan (114.1%) and Russia (113.2%). In the EAEU, the price index for paid services for this period amounted to 112.9%.

The average monthly nominal salary in January-December 2022 compared to the corresponding period in 2021 increased in all EAEU member states. The highest growth rates of nominal and real (adjusted for the consumer price index for goods and services) average monthly salaries were recorded in Kyrgyzstan (131.8% and 115.7% respectively) and in Kazakhstan (123.8% and 107.7%) .

The unemployment rate, calculated on the basis of the number of unemployed registered in employment services, at the end of December 2022 in Armenia amounted to 3.6%, Kyrgyzstan - 2.8%, Kazakhstan - 1.4%, Russia - 0.8%, Belarus – 0.1%. In general, the level of registered unemployment in the EAEU amounted to 0.9% of the labor force. At the end of December 2022, 1.0 million unemployed citizens who applied for work were registered in the employment services of the EAEU member states, which is 18.8% less than at the end of December 2021, including in Russia by 29. 8%, Armenia - by 18.3%, Belarus - by 4.0%, in Kyrgyzstan - by 0.6%. The total number of unemployed in the EAEU in 2022 decreased by 18.7%, including in Russia - by 27.4%, Armenia - by 16.5%, Belarus - by 13.8%, in Kyrgyzstan - by 1.7 %, but increased in Kazakhstan by 35.1%.