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.
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Russia-China trade up 38% in the first two months of 2022.
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.
