Over the past four years, the average GDP growth rates in all Eurasian Economic Union (EAEU) member states have surpassed pre-pandemic levels. An analytical report by the Eurasian Economic Commission (EEC) on the macroeconomic situation and measures for sustainable economic development says.
According to EEC data, the highest increases were recorded in Armenia (from 5.1 to 8.1 percent) and Kyrgyzstan (from 4.3 to 8.1 percent).
In 2024, the total GDP of EAEU countries grew by 4 percent, exceeding both the global average growth rate of 3.2 percent and the initial forecasts of the EEC.
The labor market also saw positive trends, with declining unemployment rates and rising real wages. According to EEC estimates for Q3 2023, the unemployment rate in the EAEU reached its lowest level in the past decade at 2.9 percent, with country-specific figures as follows:
- Armenia — 13.3 percent
- Belarus — 2.9 percent
- Kazakhstan — 4.6 percent
- Kyrgyzstan — 4.1 percent
- Russia — 2.4 percent.
