China’s Heilongjiang trade with Russia up 42.1% in ten months

The trade turnover of the Chinese province of Heilongjiang with the Russian regions for the ten months of 2022 increased by 42.1% in annual terms, to 149.2 billion yuan (about $22.6 billion). About it reported Consulate General of the Russian Federation in Harbin (the administrative center of Heilongjiang).

Since the beginning of the year, exports of goods from Heilongjiang to Russia have increased by 48.4%, to 12.84 billion yuan (about $1.9 billion), according to Chinese customs. Imports increased by 41.5% to 136.39 billion yuan ($20.7 billion).

Overall, in October, Heilongjiang’s foreign trade increased by 37.6% to 21.7 billion yuan ($3.02 billion). The province’s foreign trade volume reached 212 billion yuan ($29.5 billion) since January, an increase of 31.1% compared to the same period in 2021. Exports of goods grew by 14%, to 41 billion yuan ($5.7 billion), imports – by 35.9%, to 171 billion yuan ($23.8 billion).

According to the results of ten months of 2022, the trade turnover between Russia and China reached $153.938 billion, up 33% year-on-year. In early November, the Financial Times wrotethat China has become the main trading partner of Russia and trade between the two countries has grown against the backdrop of sanctions and restrictions due to the military operation in Ukraine.

Read about the general decline in exports to China in material “b”.

Laura Keffer