China-Russia trade grows to $136.67b in 1st 7m

China-Russia trade expanded to $136.67 billion in the first seven months of 2024, up 1.6 per cent from the previous year, according to data from China’s General Administration of Customs.

While imports from Russia grew by 3.9 per cent to $75.03 billion, Chinese exports to Russia declined by 1.1 per cent to $61.64 billion, resulting in a trade surplus of $13.39 billion for Russia.

However, monthly trade data reveals a decline of 2.7 per cent in July compared to June, totaling $19.69 billion. Despite this, Chinese exports to Russia increased by 1.1 per cent to $9.99 billion, while imports fell by 6.3 per cent to $9.7 billion.

Both countries have expressed their commitment to strengthening economic ties and addressing challenges related to financial settlements, logistics, and infrastructure. With trade reaching a record high of $240.11 billion in 2023, there is potential for further growth, aiming for a target of $250 billion this year.

Attribution: TASS