31/05/2023

In the first four months of 2023, the volume of Russian-Chinese trade increased by 43% and exceeded $73 billion in total.

Russia has imported $33.68 billion worth of goods from China during this time. This is almost 70% more than in 2022. Chinese imports from Russia increased by a quarter over the same period, amounting to $39.46 billion.

According to the Kremlin, mutual trade between the countries by the end of this year may for the first time overcome the amount of $ 200 billion. Moscow actively sends metals, wood, food, energy resources and chemical industry products to Beijing. In response, China delivers cars, electronics, textiles and equipment to Russia.

The import of Chinese cars to Russia has especially increased: there are deliveries of both ready-made cars and their components. This year, the countries should also jointly develop high-tech technologies that require intellectual investments from both sides.

According to experts, the Celestial Empire is one of the world's leading economies, with which we have great opportunities to sell and buy a wide range of goods. For Russia, this is a huge sales market, taking into account its scale and needs, as well as the presence of common borders. In addition, China can, to a greater extent than other states, replace the supply of modern Western products to the Russian Federation.

In the future, the parties are going to increase the trade turnover to $250 billion. At the same time, as trade volumes increase, Russia and China increasingly prefer to settle with each other in national currencies.