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30.11.2023 (Обновлено: 04.12.2023 09:13)

EAEU adopted methodology for assessing impact of integration processes on Member States' economies

The November 30 meeting of the Board of the Eurasian Economic Commission approved a methodology for assessing the impact of integration processes on the economies of the Eurasian Economic Union States.

The methodology was created following a proposal by Kassym-Jomart Tokayev, President of the Republic of Kazakhstan. The initiative was included in the Strategy-2025.

 

The methodology is based on the tools provided in the EAEU system of intercountry input-output tables, developed by the Commission. The methodology makes it possible to quantify contributions to the GDP of each Union country coming from mutual trade in goods, mutual trade in services and labor migration, taking into account the integration component of these indicators enabled by the integration measures taken.

The Commission, together with the Institute of National Economic Forecasting of the Russian Academy of Sciences, measured the effects of integration for 2016, 2020, 2021 and 2022.

“The effect of integration processes on the growth of economic activity in the EAEU States is significant, and based on measurements for 2016 to 2022, we see that it is growing. The greatest contribution of integration to GDP growth is observed in Belarus; the figures are also considerable in Kyrgyzstan and Armenia. Kazakhstan and Russia have relatively lower effects, but they are no less in absolute terms. On average across the EAEU, in 2022 the contribution of integration is estimated at 1.43% of GDP,” emphasized Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics.

For reference

The EEC is the copyright holder of the EAEU system of intercountry input-output tables in accordance with the certificate No. 2021620900 of the Federal Service for Intellectual Property on state registration of the result of intellectual activity dated April 28, 2021.