Russo-China trade up 30% in 2022, on course to hit $200bn early

Russo-China trade up 30% in 2022, on course to hit $200bn early

Russia's trade with China has grown fast since the war in Ukraine started and is on course to reach the turnover target of $200bn before 2024. / bne IntelliNews

By bne IntelliNews January 13, 2023

Trade between Russia and China reached a new all-time high in 2022, with a 29.3% increase compared to the previous year, totalling $190.27bn, according to the General Administration of Customs (GAC) of China.

China's exports to Russia saw a 12.8% increase, totalling $76.12bn. Meanwhile, Russia's imports from China climbed by 43.4% to $114.15bn.

Russia's surplus in the trade relationship with China amounted to $38bn, a three-fold increase from 2021. The trade turnover between the two countries equalled $17.8bn in December 2022, which is a decrease of 3% compared to November.

It is worth noting that in 2021, trade turnover between Russia and China grew by 35.8% to $146.88bn.

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