China's trade with Russia from January to July increased by nearly 30% from the same period last year to reach $97.71B.
Global TimesChina’s General Administration of Customs released new data on August 7 showing that Beijing’s trade with Moscow rose by 29 percent in the first seven months of 2022 compared to the same time frame in 2021.Statistics show that in July, the trade volume between China and Russia came in at $16.79 billion. Among them, China’s exports to Russia amounted to $6.77 billion, while China’s imports from Russia amounted to $10.01 billion, both expanding from June.
China’s exports to Russia expanded 5.2 percent to $36.27 billion, widening from the 2.1 percent during the January-June period. China’s imports from Russia grew 48.8 percent from a year earlier to $61.44 billion in the first seven months. The state customs data further demonstrated that China imported 247 billion yuan worth of oil, mineral fuels, and asphalt products from Russia within the first six months of 2022. During the same period, China exported 77 billion yuan worth of mechanical and electrical products to Russia.
Driverless vehicles move shipping containers at a port in Qingdao in eastern China’s Shandong Province, on Jan. 6, 2022. China’s exports rose 15.7% in March, 2022, over a year earlier while imports were flat due to disruptions from coronavirus outbreaks. While energy trade appears to account for much of Beijing and Moscow’s economic cooperation, the two parties have recently ramped up efforts to exchange more in the agriculture and “new-energy vehicle” industries, according to Song Kui, who serves as president of the Contemporary China-Russia Regional Economy Research Institute.on August 7 that “escalating sanctions from the West” have likewise pushed Moscow to expand its exports to China over the past five months.
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