Russia exports | Chinese exports to Russia increase

Russia exports | Chinese exports to Russia increase

August’s shipment of goods increased year over year by more than a quarter.

The news outlet RBK this week cited official Chinese customs data in reporting that Chinese exports to Russia increased in August despite Western sanctions aimed at the Russian economy.

The data states that shipments from China to Russia totaled almost $7.9 billion in August, an increase of 26.7% from the previous August’s ($6.3 billion) total. Although China’s General Administration of Customs has not yet released trade information by category for August, data for July indicates that 36% of China’s exports to Russia were made up of various machines, equipment, and mechanical devices.

After a minor decline in the country’s exports to Russia in the first half of the year, this was the second consecutive month of growth.

Russian exports to China increased sharply this month as well, reaching $11.2 billion, or 58% more than in August 2021. More than half of Russian exports were crude oil and related items.

The value of trade between Russia and China from January through August has now surpassed $117.2 billion, up 31% over the same time last year. By the end of the year, the total value of all international trade could top $170 billion, according to Russian Economy Minister Maxim Reshetnikov on Tuesday.

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