13.01.2023, 08:01
The trade turnover between Russia and China has broken a record
Source: OREANDA-NEWS
OREANDA-NEWS The volume of bilateral trade turnover between Russia and China has grown by 29.3% in annual terms over the past 12 months. In monetary terms, this figure reached a record high of $190.27 billion, TASS reports, citing statistics from the Main Customs Administration of the People's Republic of China.
"The trade turnover of Russia and China in 2022 increased by 29.3% year—on-year, to $190.27 billion, which was an all-time record for the two countries," the article says.
At the same time, the trade advantage in this turnover remains with Russia. Over the past year, Moscow has sent Beijing products totaling $114.15 billion (+43.4%), and exports from China have increased by 12.8% during this time and reached $76.12 billion. However, towards the end of 2022, the dynamics slowed down slightly, the article clarifies.
"Russia's surplus in 2022 amounted to $38 billion, having more than tripled in comparison with 2021. Last December, the volume of trade between the two countries amounted to $17.8 billion — about 3% less than in November," the note says.
On December 10, the chairman of the Russian-Asian Union of Industrialists and Entrepreneurs Vitaly Mankevich admitted that the volume of trade turnover between Russia and China could grow to $280-300 billion by 2024. This will be due to the reorientation of supplies of various product categories from Europe to Asia and the improvement of settlement mechanisms between the two countries.
"The trade turnover of Russia and China in 2022 increased by 29.3% year—on-year, to $190.27 billion, which was an all-time record for the two countries," the article says.
At the same time, the trade advantage in this turnover remains with Russia. Over the past year, Moscow has sent Beijing products totaling $114.15 billion (+43.4%), and exports from China have increased by 12.8% during this time and reached $76.12 billion. However, towards the end of 2022, the dynamics slowed down slightly, the article clarifies.
"Russia's surplus in 2022 amounted to $38 billion, having more than tripled in comparison with 2021. Last December, the volume of trade between the two countries amounted to $17.8 billion — about 3% less than in November," the note says.
On December 10, the chairman of the Russian-Asian Union of Industrialists and Entrepreneurs Vitaly Mankevich admitted that the volume of trade turnover between Russia and China could grow to $280-300 billion by 2024. This will be due to the reorientation of supplies of various product categories from Europe to Asia and the improvement of settlement mechanisms between the two countries.
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