China’s exports to Russia surge in Sept. ’24

China’s exports to Russia grew by 15.7 per cent in September 2024, the fastest pace in nine months, up from 10.1 per cent in August. This increase follows recent agreements to boost economic co-operation between the two countries.

However, imports from Russia to China declined by 9.2 per cent in September, compared to a 1.1 per cent drop in August. This decline is attributed to reports of difficulties faced by Russian exporters in processing payments with Chinese buyers.

In late August, during a visit to Moscow by Chinese Premier Li Qiang, China and Russia signed co-operation agreements in various areas, including investment, cross-border cargo transport, and science and technology.

Trade between China and Russia increased by 2.7 per cent in value terms during the first nine months of the year compared to the same period in 2023, reaching a total of 1.28 trillion yuan ($180.3 billion).

Attribution: Reuters

Subediting: M. S. Salama