The trade turnover between Russia and China in 2022 broke a record

According to the data of the General Customs Administration of China, the trade turnover between China and the Russian Federation increased by 29.3% by the end of 2022 and amounted to a record $190.271 billion. 

In total, during the reporting period, China exported $76.122 billion worth of goods to Russia, with an increase of 12.8% compared to 2021. Imports from Russia increased by 43.3%, reaching $114.149 billion.

The agency also provided data separately for December: the level of trade turnover between the two countries in one month amounted to $17.805 billion (Russia imported goods to China in the amount of 8.996 billion, China to the Russian Federation – by 8.808 billion).

By the end of 2021, the trade turnover between Russia and China increased by 35.8% and amounted to a record $146.887 billion. In general, data for 2022 indicate that Russia has become the leader in terms of growth in total trade turnover and exports to China among more than 20 countries and regions, including Hong Kong and Taiwan. 

Earlier, the Russian and Chinese authorities had already agreed that the trade turnover between the two countries should be doubled and increased from $100 billion a year to $200 billion by 2024. It is noted that the $100 billion mark was reached in 2018.