PRC-Russia trade turnover up 26% in 2023

This data was provided by the General Administration of Customs of the People's Republic of China.

Exports from China to Russia over the year reached $110.9 billion (+47%). Russian imports grew by only 12.7% to $129 billion.

Russia has so far maintained a foreign trade surplus with the Chinese, in 2023 it amounted to $18.17 billion. But it has halved over the year, TASS reported.

Earlier forecasts by Western experts indicated that China's focus on further industrial growth could lead to a new round of trade wars in the world.

In December 2023, Russian Deputy Prime Minister Alexander Novak said that China and India had become the main buyers of Russian oil.