Trade turnover between Russia and China will exceed $200 billion in 2023. This was announced to journalists in Beijing by the head of the Ministry of Economic Development Maxim Reshetnikov.
“It is important that trade turnover (between Russia and China) is growing, insofar as we have created the conditions, we have working logistics,” Maxim Reshetnikov said.
According to him, new border crossings were opened last year and this year, China cancelled covid restrictions.
“Therefore, in physical terms we have a significantly growing turnover, and in value terms, too, and we will definitely exceed the bar of two hundred billion this year. We can carefully name some estimates, 215-220 billion dollars, we will see closer to the end of the year. But we will definitely fulfil the task set by the leaders of our countries, which was the figure for 2024, ahead of schedule,” said the head of the Ministry of Economic Development.
He specified that Russia’s trade with China grew “even in the most difficult pandemic years, by 20 per cent a year”.
Recall that according to the main customs administration of China, for the first three quarters of 2023 trade turnover between Russia and China increased by 29.5% to a record $176.5 billion. During the reporting period, China imported $81.4 billion worth of goods into Russia, showing an increase of 56.9%. Supplies from Russia to China over the same period totalled about $94.9bn, showing an increase of 12.7%. Thus, the trade balance remains in Russia’s favour.