Trade turnover between Russia and China grew by 31.4% in eight months

From January to August, the trade turnover between Russia and China increased by 31.4% year on year, to $117.2 billion, TASS reports citing data from the General Administration of Customs of the People’s Republic of China. In eight months, China’s exports to Russia increased by 8.5%, to $44.26 billion. Imports of Russian goods and services to China increased by 50.7%, to $72.95 billion.

In 2021, the trade turnover between the two countries amounted to about $140 billion. The authorities of the Russian Federation and China agreed to increase the volume of bilateral trade to $200 billion a year. In the first seven months of 2022, the trade turnover between Russia and China increased by 29%, to $97.7 billion. At the Russian Foreign Ministry in August declaredthat trade with China is growing at a tremendous pace.

Laura Keffer