Russia and China Increased Trade Turnover by Almost 30% in Five Months of 2022
The Customs Administration notes that exports from China to Russia over the five months increased by 7.2% to about $ 24.56 billion. Imports from Russia increased by 46.5%, reaching values of $ 41.25 billion.
The trade surplus for the five months increased 3.5 times as compared to the same period of the last year, reaching $16.69 billion. In May, the volume of goods turnover between the countries reached $14.59 billion, which is 15% higher than in April.
About 70% of the total value of Russian goods imported to China are natural resources, in particular oil, natural gas and coal. As for Russia, China imports smartphones, industrial and specialized equipment, children's toys, shoes, air conditioners and computers.
Earlier Bloomberg reported that in April 2022 for the first time in history Belarus surpassed Germany in shipments of goods to Russia, increasing exports by more than 100%. Analysts of the agency estimated that supplies to Russia from partner countries in April decreased by 40% compared to the same period last year.