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mayonnaise and copper. What else does Russia sell to China and what do we bring from there?

Date: June 18, 2024 Time: 01:03:20

The Chinese customs has not yet revealed the structure of trade with our country.

Photo: EASTERN NEWS

Mutual trade between Russia and China has increased dramatically over the past year. The figure increased by almost a third and surpassed 190,000 million dollars, data provided by the Department of Customs of China. The Russian customs has not yet released official data, but the preliminary data is similar.

At the same time, interestingly, we supply China with much more than we import. It would seem that everything is full of Chinese products, but no. Exports are almost one and a half times higher than imports (see chart for details). Deliveries from Russia have grown much more this year. In the context of sanctions, China has greatly increased the consumption of Russian oil and coal. And this immediately affected the volume of trade.

It is noteworthy that mutual trade with Russia grew more dynamically last year. For example, the top three in terms of trade growth with China are Singapore and Canada. There the indicators last year grew by 23% and 17% respectively.

The Chinese customs has not yet revealed the structure of trade with our country. The Russian Federal Customs Service, after the imposition of sanctions, also stopped publishing statistics. However, Komsomolskaya Pravda did notice some details.

– The main export groups are fuels and energy products, wood, minerals, mechanical equipment, copper. The main import groups are mechanical and electrical equipment, land transport, plastics and products made from them, organic chemical compounds, the press service of the Federal Customs Service explained to KP.RU.

At the same time, the Chinese began to buy much more often not only oil and coal, but also products of our agriculture. In particular, fish, as well as “fats and oils of animal or vegetable origin” (including mayonnaise, which is in great demand in China).

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The volume of foreign trade with China is more than 20% of the country’s foreign trade turnover, and Russia’s share in China’s foreign trade structure is about 3%. The goal for the next few years, which was set by the presidents of the two countries in a recent meeting, is to achieve a commercial turnover of 250,000 million dollars.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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