Trade turnover between Russia and China reached its historical maximum
According to data provided by the General Administration of Customs of the People's Republic of China, the trade turnover between Russia and China has reached its historical maximum. So, only for the period from January to November 2022, it increased by 32%, amounting to $172,406 billion.
Over the past 11 months of this year, exports of goods from China to Russia reached $67,334 billion, up 13,4% compared to the same period in 2021. At the same time, imports of goods to China from Russia jumped by 47,5% and fixed at $105,072 billion. Last month, the trade between the two countries was estimated at $18,256 billion, and for the whole of 2021, at $146,887 billion.
Recall that China has been acting as the main trading partner of Russia for several years now, and this trend is only strengthening against the backdrop of a significant decline in trade between the Russian Federation and the EU countries. Due to increased economic sanctions from Western countries against Moscow, trade fell by 43% during the period from June to August this year, while with China, on the contrary, this figure jumped up by 23%.
It should be noted that the deepening of cooperation between Beijing and Moscow in many areas, from military to cultural, has shown significant progress, and all this despite the absence of an agreement on strategic partnership between the two states. So, already in 2018, countries reached a record volume of $107 billion at that time. The next target is $200 billion. Experts believe that it can be achieved as early as 2023.
- Egorenkov Alexander
- Hamin Mikhail
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