Russia and China are two of the world’s largest nations. Between January and November 2022, Russia’s foreign trade in goods increased by 8.6% to $5.78 trillion. Most recently, it was released Wednesday by the General Administration of Customs that China had a higher increase during that same period: 38.34 trillion yuan (about $5.78 trillion).
Exports increased by 11.9% year-on-year to 21.84 trillion yuan, while imports increased by 4.6% year-on-year to 16.5 trillion yuan.
China’s trade with ASEAN, the European Union, and the United States rose by 15.5%, 7%, and 4.8%, respectively, from January to November.
The China-led Belt and Road Initiative (BRI) has seen a boost in revenues, with increasing indicators by 20.4% in the first year.
Private enterprises have increasingly become an important part of China’s foreign trade, contributing 50.6% of the country’s trade deficit.