INDUSTRY DEVELOPMENT OPPORTUNITIES IN THE REPUBLIC OF ARMENIA WITHIN THE EAEU
The modern economy is acquiring more and more features of the information society, the service sector is expanding, but the real sectors of industry still remain the basis of economic development. It is in industry that not only new goods are created, but also new means of production for all sectors of the economy. In this aspect, it is very important for each country to develop and implement its own industrial policy. These issues are especially topical for Armenia. The article discusses the legislative framework for the development of industry at two levels: supranational – the EAEU, and national – the Republic of Armenia. The participation of Armenia in the EAEU will have a positive impact on the development of the industrial sector in the Republic of Armenia, since earlier during the existence of the USSR, the level of industrialization of Armenia was very significant. Today, the industrial structure of the Republic of Armenia is dominated by the manufacturing industry, which accounted for 62.5% of industrial production in 2021. The predominant sectors of the manufacturing industry in the Republic of Armenia are the production of food products, including drinks, and tobacco (61.3%). Within the EAEU, Armenia accounts for 0.3% of the total industrial production. Armenia exports mainly final products to the EAEU: food products shipments in 2021 accounted for 53.3% of Armenia's total exports to the EAEU. In 2022, the volume of exports from the RA to the EAEU increased by almost 200% and totalled USD 2.464 billion, of which 24.3% were food products.
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