Post by account_disabled on Mar 9, 2024 2:07:23 GMT -5
Bilateral trade between China and Russia grew by 34.3% in 2022 compared to the previous year, bringing the total figure to a record of 190 billion dollars (1.28 trillion yuan), according to data published today by Chinese customs. According to local officials, this momentum is supported by deeper relations, an increase in energy trade and further liberalization in trade between the parties.
It was the first time that bilateral trade exceeded the 1 trillion yuan threshold. Specifically, China's exports to Russia soared 17.5% year-on-year, while imports from Russia increased 48.6%.
This impressive Ecuador Mobile Number List growth of 34.3% is the result of increases in trade volume during the last six months and is followed by growth in 2021 of 26.6% and in context, China's exports grew by 7.7 in 2022 %.
In total, bilateral trade between the two countries represented 3% of China's trade volume last year, indicating that, despite this increase in t
In April, the Chinese and Russian leaders jointly set a goal for bilateral trade volume to reach $200 billion by 2024, so based on current figures, they will most likely reach the goal sooner than expected.
According to Chinese customs officials, these positive data are the result of a strengthened energy policy and a gradual adoption of the yuan and the ruble to replace the dollar as currencies in commodity trade. Since the outbreak of the conflict in Ukraine, Russia has increased its exports of natural gas, coal and oil to China. The latter has grown by 10% year-on-year and now represents 80 million tons.
In 2022, Russia's natural gas exported to China through the China-Russia Eastern Gas Pipeline reached 15 billion cubic meters, and the volume is expected to further increase to 22 billion cubic meters in 2023. Chinese exports of electronics, manufactured goods and capital goods to Russia also saw a significant increase last year.
As China began to ease measures to contain Covid-19 and reopened its borders on Sunday, major border ports between China and Russia, including Manzhouli in northern China, have begun to see a rebound in transportation. cargo, which will also accelerate trade starting this month.
China reported a record trade surplus in 2022, but falling exports in December suggest volumes are likely to contract in early 2023 as the global economy weakens. The country's total goods trade reached an all-time high, reaching 42.07 trillion yuan ($6.3 trillion), up 7.7% from 2021.
Measured in US dollars, exports rose 7% last year, while imports rose 1.1%. That translates into a trade surplus of 877.6 billion, surpassing the 2021 record of 676 billion.
While the relationship with Russia strengthens, trade with the European Union and the United States decreased sharply in December.
Exports to the EU fell 17.5% year-on-year, while imports contracted 13.54%. In turn, shipments to the US fell 19.51% in December compared to the same period last year, while US imports decreased 7.12%.
However, exports to Russia rose 8.26% last month compared to a year earlier and imports rose 8.3%.
It was the first time that bilateral trade exceeded the 1 trillion yuan threshold. Specifically, China's exports to Russia soared 17.5% year-on-year, while imports from Russia increased 48.6%.
This impressive Ecuador Mobile Number List growth of 34.3% is the result of increases in trade volume during the last six months and is followed by growth in 2021 of 26.6% and in context, China's exports grew by 7.7 in 2022 %.
In total, bilateral trade between the two countries represented 3% of China's trade volume last year, indicating that, despite this increase in t
In April, the Chinese and Russian leaders jointly set a goal for bilateral trade volume to reach $200 billion by 2024, so based on current figures, they will most likely reach the goal sooner than expected.
According to Chinese customs officials, these positive data are the result of a strengthened energy policy and a gradual adoption of the yuan and the ruble to replace the dollar as currencies in commodity trade. Since the outbreak of the conflict in Ukraine, Russia has increased its exports of natural gas, coal and oil to China. The latter has grown by 10% year-on-year and now represents 80 million tons.
In 2022, Russia's natural gas exported to China through the China-Russia Eastern Gas Pipeline reached 15 billion cubic meters, and the volume is expected to further increase to 22 billion cubic meters in 2023. Chinese exports of electronics, manufactured goods and capital goods to Russia also saw a significant increase last year.
As China began to ease measures to contain Covid-19 and reopened its borders on Sunday, major border ports between China and Russia, including Manzhouli in northern China, have begun to see a rebound in transportation. cargo, which will also accelerate trade starting this month.
China reported a record trade surplus in 2022, but falling exports in December suggest volumes are likely to contract in early 2023 as the global economy weakens. The country's total goods trade reached an all-time high, reaching 42.07 trillion yuan ($6.3 trillion), up 7.7% from 2021.
Measured in US dollars, exports rose 7% last year, while imports rose 1.1%. That translates into a trade surplus of 877.6 billion, surpassing the 2021 record of 676 billion.
While the relationship with Russia strengthens, trade with the European Union and the United States decreased sharply in December.
Exports to the EU fell 17.5% year-on-year, while imports contracted 13.54%. In turn, shipments to the US fell 19.51% in December compared to the same period last year, while US imports decreased 7.12%.
However, exports to Russia rose 8.26% last month compared to a year earlier and imports rose 8.3%.