By Rhod Mackenzie
In the period from January to July 2023, the trade turnover between Russia and China increased by 36.5% year-on-year, reaching $134.1 billion.
According to TASS with reference to the Main Customs Administration of China, exports from this country to Russia over the specified period increased by 73.4%, amounting to approximately $62.54 billion. Imports of Russian goods and services increased by 15.1%, to $71.55 billion. Based on these data, the positive balance of the Russian Federation in January-July amounted to $ 9 billion, having decreased by 2.7 times compared to the same period last year.
It is specified that only last month the volume of trade between the two countries reached $19.48 billion, having decreased by 6.4% compared to June. Imports from Russia on a monthly basis fell by 18.3% to $9.2 billion.
The bulk of the cost of goods imported from the Russian Federation to China falls on oil, natural gas and coal, according to the material of the Main Customs Administration of the PRC. Other major imports from Russia include copper and copper ore, as well as timber and fuel. China, in turn, supplies Russia with smartphones, industrial and specialized equipment, toys, shoes, vehicles, air conditioners, computers, and more. It is noted that deliveries from China to Russia include such important strategic raw materials as germanium.
Last year, trade between the two countries increased by 29.3% and reached a record $190 billion, the agency said. A year earlier, the figure was $146.88 billion, then an increase of 35.8% year-on-year was recorded.
This article originally appeared in Russian at expert.ru