Russia-China trade up 38% in first two months of 2022
While sanctions are being imposed on Russia, the trade flow is shifting towards China.
Amid the western sanctions campaign against Russia, trade between Russia and China went up 38.5% in the first two months of this year, as compared to the same period of last year, the Chinese General Administration of Customs informs.
Russia-China trade in January-February 2022 amounted to $26.431 billion. China’s export to Russia increased by 41.5% and amounted to $12.617 billion, while Russia’s export to China went up 35.8% and amounted to $13.813 billion.
Read more: Yuan more preferable as China, Russia de-dollarize trade
Last year, the trade turnover between the two countries went up 35.8%, standing at a record $146.887 billion.
It is noteworthy that bilateral trade between Russia and China exceeded US$100 billion in 2020, declining 3% compared to that of 2019. However, Moscow and Beijing want to double the volume of trade to US$200 billion by 2024.