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China-Russia trade on the rise/Exports on the rise in 2023

2023-06-08 08:19:00, Kosova & Bota CNA

China-Russia trade on the rise/Exports on the rise in 2023

Bilateral trade between Russia and China reached more than $93.8 billion from January to May 2023, an increase of 40.7% over the same period last year, data from the General Administration of Customs of China showed.

Data released on Wednesday also showed that China's exports to Russia reached $42.96 billion as of January 2023, a 75.6% increase compared to 2022. The numbers for total trade values ??and total exports have seen their most recent jumps. huge since the start of the Russian occupation of Ukraine, with Russia becoming China's fastest-growing trading partner in the world.

Russia has been hit by unprecedented Western sanctions since it invaded Ukraine and has been excluded from much of the global economy.

But China, which has not imposed any sanctions, has softened the Kremlin's economic situation, softening the impact of its expulsion from the global financial system.

Trade between China and other countries or regions has largely declined compared to last year.

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