Trade turnover between Russia and China increased by 38.7%

According to the data of the General Customs Administration of China, the trade turnover between China and Russia is growing - by 38.7% in the first quarter of this year. This is 53.845 billion dollars. China's exports to Russia during the reporting period reached $24.073 billion - 47.1% higher than in the same period last year. Imports from Russia increased by 32.6% and amounted to $ 29.772 billion.

In March 2023, the level of trade turnover between the two countries reached $ 20.064 billion. Russia imported $11.02 billion worth of goods from China and exported $9.044 billion worth of goods.

The trade turnover between Russia and China also grew by 29.3% last year. Then the figure was a record 190.271 billion dollars. Russian President Vladimir Putin and Chinese President Xi Jinping have expressed a desire to double trade turnover to $200 billion by 2024. The 100 billion mark was reached back in 2018.

After the talks between the leaders of Russia and China in Beijing on February 4, 2022, Kremlin spokesman Dmitry Peskov said that the Chinese president had put forward a new goal to increase trade turnover to $ 250 billion per year.

Beijing has become Moscow's main trading partner after imports from EU countries decreased. The yuan was included in the structure of the NWF in February last year. The Russian Ministry of Finance intends to increase the marginal share of yuan in the NWF to 80%.