Russian Charge d’Affaires in China Ivan Zelokhovtsev said trade between Russia and China could reach $200 billion by the end of the year, with Moscow moving east due to Western sanctions. He pointed out that the achievement of this goal is quite realistic, especially with the growth in prices for goods of the mineral and raw materials group.
He said: “In fact, we are seeing an increase in the disproportion in imports and exports. It’s no secret that a large share of bilateral trade is commodities in the energy and mineral group, and their prices have varied in recent months. much more than what we’re used to seeing.” According to Chinese customs, the volume of trade between Russia and China in the first half of 2022 increased by 27.2% to $80.675 billion.
China exported $29.55 billion worth of goods to Russia, up 2.1 percent from the first half of 2021, while Russian exports to China increased 48.2 percent to $51.125 billion.
Source: El Iktisad
