The Russian Foreign Ministry announced the colossal growth in trade with China
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The trade turnover between Russia and China is growing at an enormous pace, declared Director of the Department of Economic Cooperation of the Russian Foreign Ministry Dmitry Birichevsky on the air of the Russia 24 TV channel.
“With China, we had a trade turnover of about $140 billion in 2021. This year it is growing at a tremendous pace,” he said.
Over the past more than 20 years, countries have been able to build a comprehensive system of bilateral ties from the highest to the regional levels, he added.
Trade between Russia and China in January-July 2022 increased by 29% year on year to $97.7 billion, China’s General Administration of Customs said earlier. China’s exports to Russia over the same period increased by 5.2% to $36.3 billion. Russia’s imports to China increased by 48.8% (to $61.45 billion). The Russian and Chinese authorities agreed to increase the volume of bilateral trade to $200 billion a year.
At the end of 2021, the volume of such trade increased by 33.8% compared to 2020 and amounted to a record $146.9 billion. The positive balance of Russia over the past year increased by 78.4% and reached $11.76 billion. The volume of Russian exports to China over this period increased by 33. 8% to $67.56 billion.
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