Trade Between Russia and China Increased by 25.7%
OREANDA-NEWS Trade between Russia and China increased by 25.7% at the end of January-August 2018 compared to the same period last year. This information published the General customs administration of China on Saturday.
The total volume of trade amounted to 67.5 billion dollars in the first eight months of this year. Chinese exports in Russia increased by 13.5% and amounted to 31.1 billion dollars in this period. Import from Russia increased by 38.5%, amounting to 36.3 billion dollars.
In August, the trade turnover between the two countries amounted to 9.13 billion dollars, China imported goods to Russia by 4.26 billion dollars, Russia to China-by 4.86 billion dollars.
The trade turnover between Russia and China at the end of 2017 increased by 20.8% compared with the year 2016 — up to 84 billion dollars. Chinese exports to Russia increased by 14.8% to $ 42.9 billion, while imports from Russia increased by 27.7% to $ 41.2 billion.
The Chinese authorities plan to increase the supply of Russian gas. At the same time, the planned volumes of "blue fuel" are not reported. According to China News Servise, China is also interested in increasing imports of natural gas from Kazakhstan.
Earlier it was written that in July of this year almost 30 million tons of coal were imported to China, which is almost 50% more than in 2017. This growth is associated with abnormal heat and increased electricity consumption.
In the first quarter of 2018, the trade turnover between Russia and China amounted to $23 billion, which was 28.2% more than in the same period in 2017.
In April, the official representative of the Ministry of Commerce of China Gao Feng expressed hope that the trade turnover of the two countries in 2018 will exceed $100 billion At the same time he assured that the US sanctions will not affect the trade and economic relations between Russia and China.