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Mutual commerce between Russia and China amounted to almost $51.09 billion (343.87 billion yuan) within the first 4 months of the present yr, marking progress of 25.9% in comparison with the identical interval one yr in the past, in keeping with the most recent information launched by China’s customs workplace.
China’s exports to Russia grew 11.3% to $20.24 billion, whereas Russia’s gross sales to China surged 37.8% to $30.85 billion. Bilateral commerce turnover in April rose 8.7% in opposition to March to $12.69 billion.
Oil, pure fuel, and coal account for almost 70% within the worth of products imported by China from Russia. Russia additionally exports copper and copper ore, lumber, gas, and seafood.
China exports a variety of merchandise to Russia, together with smartphones, industrial and special-purpose gear, toys, footwear, motor autos, air conditioners, and computer systems.
In 2020, commerce turnover between Russia and China declined by 2.9% to $107.76 billion as a result of Covid-19 pandemic. Final yr, mutual commerce between the nations hit a document excessive of $146.88 billion, surging 35.8%.
In December, the Russian and Chinese language presidents agreed on creating infrastructure to service commerce operations between the 2 nations with out third events. The 2 nations have been switching from the US greenback and the euro in commerce to keep away from potential sanctions.
Beijing has refused to participate within the sanctions on Moscow over the battle in Ukraine.
For extra tales on economic system & finance go to RT’s enterprise part
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