Trade turnover between Russia and China grew by 40.7% in five months – Kommersant

The trade turnover between Russia and China in January-May year on year increased by 40.7%, to $93.8 billion, the General Administration of Customs of the People’s Republic of China reported. Exports from China to Russia over the reporting period increased by 75.6%, to $42.95 billion. Imports of Russian goods and services increased by 20.4%, to $50.85 billion, TASS reports citing customs data.

In 2022, the trade turnover between Russia and China increased by 29.3%, to $190.27 billion, which was a record. Aide to the President of the Russian Federation Maxim Oreshkin saidthat China has become a key Russian partner, surpassing the European Union in terms of trade with Russia. Russian Prime Minister Mikhail Mishustin saidthat 70% of cross-border settlements between Russia and China are carried out in rubles and yuan.

Laura Keffer