Big shift between Russia and China
China’s General Customs Administration revealed that trade between Russia and China in the first five months of this year increased year on year by 23.6%, reaching 50.65 billion dollars.
The data confirmed that exports to Russia in the January-May period increased by 35.3% and amounted to about $22.921 billion, while imports of Russian goods and services increased by 15.4% in five months to reach $27.735 billion.
The volume of trade exchange between China and Russia in May alone amounted to 10.449 billion dollars.
At the end of 2020, the trade exchange between Russia and China decreased year on year by 2.9% and amounted to 107.76 billion dollars. Earlier, the Russian and Chinese authorities set a goal of achieving an annual trade volume of $200 billion.
It is noteworthy that Russian President Vladimir Putin said during a meeting with heads of world news agencies on June 4, in the framework of the Petersburg International Economic Forum that Russia and China managed in 2020 to maintain trade at the level of $100 billion, despite the epidemic, and it may reach The trade exchange between the two countries will reach $200 billion by 2024.
This year, the spokesperson for the Chinese Ministry of Commerce, Gao Feng, announced that in 2021 his country’s authorities will intensify trade and economic cooperation with Russia to help achieve the goal of increasing bilateral trade to $200 billion, stressing China’s interest in expanding economic contacts with the Russian Federation. at the central and regional levels.