Trade with Russia up 40.6% Y/Y, with US down 14.5%: Chinese customs

By Al Mayadeen English
Source: Agencies
13 Jul 2023 09:13

In 2022, Russia-China trade increased by 29.3% year-on-year to $190.271 billion.

In this Nov. 12, 2015, file photo, a staff member displays a 100-yuan RMB banknote at the Bank of China Tower in Hong Kong (AP Photo/Kin Cheung, File)

Data from the Chinese General Administration of Customs showed on Thursday that the trade turnover between Russia and China from January-June 2023 has increased by 40.6% year-on-year to $114.547 billion.

According to the data, China exported an estimated $52.284 billion worth of goods to Russia over the specified period. As for exports of Russian goods to China, they have increased by 19.4% to $62.263 billion.

In the month of June alone, bilateral trade amounted to $20.831 billion, with $11.28 billion in goods being exported from China to Russia and $9.551 worth of goods imported from Russia to China.

In 2022, Russia-China trade increased by 29.3% year-on-year to $190.271 billion.

China-US trade down by 14.% since January 2023

Data from China's customs also showed on Thursday that trade between China and the US dropped by 14.5% to $327.264 billion since January 2023.

In the first half of the year, China's exports to the US decreased by 17.9% year-on-year to $239.35 billion. As for US imports to China, they dropped by 3.7% to $87.913 billion year-on-year.

Despite this, the US remains among China's three top trading partners. The other two are the ASEAN countries and the EU.

In Q4 of last year, trade turnover between China and the US increased by 0.6% and reached $759.427 billion.