Trade with Russia up by 36% in Jan.-July, down by 15% with US: Beijing

By Al Mayadeen English
Source: Agencies
8 Aug 2023 13:18

Chinese deliveries to the US fell by 18.6 percent YOY to $281.655 billion, whilst US exports to China fell by 4.7 percent to $99.859 billion.

A crane lifts a shipping container at an automated port in Tianjin, China, January 16, 2023 (AP)

China's trade turnover continues to progress in a positive trend as the trade turnover between China and Russia from January to July 2023 grew by 36.5 percent, amounting to $134.104 billion in revenues, China's General Administration of Customs said on Tuesday.

Within the specified timeframe, China exported goods to Russia worth $62.545 billion, signifying an increase of 73.4 percent in the same period in 2022.

On the other hand, Russian exports to China grew by 15.1 percent from January to July to $71.559 billion.

In the month of July alone, the trade turnover between the two countries amounted to $19.488 billion, with Russia exporting goods worth $9.208 billion to China, and China exporting goods worth $10.280 billion to Russia.

On another note, trade with the US for the same period (January- July 2023) regressed by 15.4 percent to $381.514 billion, Beijing's customs said.

In the reporting period, Chinese deliveries to the US fell by 18.6 percent YOY to $281.655 billion, whilst US exports to China fell by 4.7 percent to $99.859 billion.

In July alone, trade between the two countries amounted to $54.322 billion, with the US exporting goods worth $12.009 billion to China and China supplying goods worth $42.313 billion to the US.

Last month, data from the Chinese General Administration of Customs showed that the trade turnover between Russia and China from January to June 2023 grew by 40.6% to $114.547 billion.

As for trade with the US for the same period, data showed that the trade turnover 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.