China’s foreign trade decline slows

The decline in China’s imports and exports, observed in recent months, smoothed out in August, but this does not indicate a steady trend of recovery in Chinese foreign trade. At the same time, trade turnover with Russia continues to show strong growth positions. This follows from statistics from the General Administration of Customs of the People’s Republic of China, published on Thursday, September 7.

Thus, the total volume of trade with Russia in the first eight months of 2023 increased by 32% compared to the same period last year and amounted to $155.1 billion. Exports from Russia to China increased by 13.3% to $83.3 billion, and imports from China increased by 63.2% and amounted to $71.8 billion. In August, the growth in total trade volumes between China and Russia amounted to 7.9% (year-on-year), while Russian exports grew by 1.3%, Chinese imports – by 17.5%.