Fact-checking: ONT Falsely Reported EAEU Countries GDP Doubled in 10 Years

In the news broadcast on May 12, Belarusian pro-government TV ONT reported about the economic success of the EAEU:

“The countries approached the anniversary with certain achievements, primarily in the economy. In a nutshell: the combined GDP of the five countries has almost doubled in 10 years — it's now $2.5 trillion,” the voiceover said.

ONT's claim was based on the statement of  Vladimir Putin, which he made during the summit. He said that the total GDP of the five countries had surged from 1.6 trillion to 2.5 trillion USD over the previous ten years.

However, the WTF’s fact-checking revealed that the total GDP of the EAEU countries has remained almost unchanged over the past decade. According to the Eurasian Economic Commission's (EEC) preliminary data, the combined GDP of the EAEU countries was $2.4 trillion in 2023, which is the same as it was in 2014, the EEC's statistics say.

Additionally, the 2022 EEC's report, “10 Years of Eurasian Integration,” which covers the period from 2012 to 2021, indicates that the economic situation within the Union remained largely unchanged over the ten years in question. Industrial production, agriculture, and construction output did not increase, while freight turnover grew.

It's important to note that the Eurasian Economic Union was formally established on January 1, 2015. Though, the agreement to create it was signed by the heads of Belarus, Kazakhstan, and Russia earlier in May 2014. Armenia and Kyrgyzstan joined later. 

Therefore, the ten-year milestone, mentioned by ONT, and the results of the 10-year EAEU work can be analyzed only in 2025.