Published
05/29/2025, 12:13According to the latest data from the EEC Statistics Department, in 2024, more than 91% of mutual settlements for exports and imports between EAEU countries were made in the currencies of the union itself. The Russian ruble became the absolute leader, with a share of 88.1%, showing an increase of 6.7 percentage points by 2023.
Against this backdrop, the share of the US dollar continues to decline, accounting for only 6.1% — less than half of what it was in 2022. Since 2014, its share in settlements has fallen from 26.3%.
The euro, once an alternative anchor, has lost even more ground. While its share in settlements grew steadily until 2019, reaching 6.8% at the end of 2018, it then began to decline. In 2024, its share fell to 1%, compared with 4.8% just two years ago.
When it comes to settlements with the outside world, the Russian ruble also maintains a stable position. On average across the EAEU, it accounted for 42.9% of all export revenues and 40.8% of import payments, significantly ahead of the dollar, yuan, and euro.
Kyrgyzstan is also showing a change in its trade orientation. In 2024, the republic received 69.8% of its export earnings in Russian rubles. At the same time, 39.4% of import payments are still made in US dollars.
In addition, 30% of imports are already paid for in yuan, a figure that seemed unrealistic not so long ago.
The share of payments in som remains symbolic, at around 0.1% of imports from Kazakhstan. However, the very fact that the national currency is present in inter-state settlements is important.
