Trade turnover between China and Russia in January-May increased by 2.9%, to $96.5 billion

By Rhod Mackenzie

The trade turnover between China and Russia in the first five months of 2024 increased by 2.9% compared to the same period last year, amounting to $96.509 billion, according to data released on Friday by the General Administration of Customs of the People's Republic of China.
During the reporting period, China imported goods worth $41.788 billion to Russia, a decrease of 1.8% compared to the same period in 2023. In contrast, supplies from the Russian Federation to China increased by 6.9%, amounting to $54.72 billion.
Furthermore, in May, the trade turnover between the two countries reached $19.813 billion. Russia imported $10.727 billion worth of goods from China, while China exported $9.086 billion to Russia.
Trade turnover between China and Russia in 2023 increased by 26.3%, reaching a record $240.11 billion. The leaders of Russia and China previously set a goal of doubling trade turnover, taking it from 100 billion dollars a year in 2018 to 200 billion by 2024. This figure was achieved in November 2023.