Increase in Russia-China Trade Turnover by 25.9 Percent in January-February

Beijing, March 7 – The volume of trade exchange between Russia and China from January to February 2023 increased by 25.9% and amounted to $33.685 billion, according to data released on Tuesday by China’s Main Customs Administration.

During the reporting period, China imported goods to Russia worth $15.036 billion, an increase of 19.8% compared to the same period in 2022, and shipments from Russia to China increased by 31.3%, reaching $18.648 billion.

At the end of 2022, trade between Russia and China increased by 29.3% and reached a record $190.271 billion.

The leaders of Russia and China had previously set the goal of doubling the volume of trade exchange between the two countries, to rise from 100 billion annually to 200 billion by 2024. The 100 billion mark was reached in 2018.

After the talks between the leaders of the two countries, which took place in Beijing on February 4, Russian presidential spokesman Dmitry Peskov said that Chinese President Xi Jinping had set a new goal to increase trade between Russia and China – $250 billion annually.