Russia’s trade with China surges to more than $107 billion

Read Time:1 Minute, 15 Second
© Sputnik / Vitaliy Belousov
Trade turnover between Russia and China soared by nearly 30 percent in 2018, reaching a record number of $107.06 billion, according to the latest report released by China’s General Administration of Customs (GAC).
The agency noted that last year Russian imports of Chinese goods increased by 12 percent to $47.98 billion. At the same time, China’s imports from Russia grew by 42.7 percent, reaching $59.08 billion. In December alone, the volume of trade between the neighboring countries reportedly totaled $9.8 billion.

BYPASS THE BIG TECH CENSORSHIP
Get uncensored news and updates, please subscribe to our FREE newsletter!

 

Russia-China trade turnover has grown significantly over recent years. In 2017, mutual trade amounted to $84.07 billion demonstrating a growth of 20.8 percent. In 2016, the trade turnover grew by 2.2 percent in annual terms to $69.52 billion.
Russia became China’s number one partner when it comes to trade growth dynamics, according to the GAC spokesman Li Kuiwen. The spokesman added that China had mostly exported electromechanical goods to Russia, while purchased oil, coal, and wood.

Last week, the Chinese commerce ministry said that mutual trade between the countries in December reached $100 billion for the first time ever. Russia is currently ranked as China’s tenth biggest trade partner. Beijing remained a major importer of Russian produce, accounting for 15 percent of the country’s international trade as of 2017.
Please support us by following our social media:
Contributor posts published on Russia Truth do not necessarily represent the views and opinions of Russia Truth, and are not selected, edited or screened by Russia Truth editors.


Bypass the big tech censorship
Get uncensored news and updates, please subscribe to our FREE newsletter!





If you would like to help support us further, please consider a donation
Any amount is greatly appreciated as it helps cover the cost of our server and web-hosting fees, and also enables to fund projects and plan for expansion.
Monthly:

(You can cancel at any time).