Trends in the development of trade in agricultural products and food of the EAEU member states in modern conditions

Abstract

The article examines the positive trends in the development of the agro-food sector of the economy of the EAEU member states, which take place despite the impact of negative internal and external factors. In 2021, the total volume of mutual trade in agricultural products and food of the EAEU amounted to 11.9 billion US dollars, an increase of 34.8% compared to 2018. Foreign trade turnover increased by 24.7% and reached almost $70 billion. The share of agro-food products in the total trade turnover of the EAEU states is almost continuously increasing. It should be noted that the EAEU countries have been steadily reducing imports of agri-food group goods. The level of intraregional trade in the EAEU in 2021 amounted to 25.5%, which is higher than the same indicator for other integration associations, however, significantly below the level of the European Union (about 70%).The large–scale sanctions imposed against the two countries of the association – Russia and Belarus - have closed the markets of many Western countries and significantly disrupted the established logistics chains. This forced the EAEU states to actively work on finding and establishing trade relations with new partners, in particular with Egypt, India, Israel, Indonesia, the United Arab Emirates; the expediency of concluding an agreement is being studied with Mongolia.