China’s 2022 Trade With Russia Hits Record $190bn

As per the recent statement released by the government, China’s trade with Russia hit a record 1.28 trillion yuan ($190 billion) last year, even as Russia’s imports from the European association fell on sanctions connected to Moscow’s invasion of Ukraine.

China’s 2022 exports to and imports from Russia presented 3% of China’s total trade, as per the statement given by Lyu Daliang, spokesperson of the General Administration of Customs.

Not only this, but shipments of Chinese commodities to Russia have also increased for six months.

Additionally, Russia dramatically increased its rail exports of liquified petroleum gas to China last year, 2022 as part of the Kremlin’s drive to enhance its energy export sales, as per the Reuters analysis based on information collected from industry sources.

According to Russia's leading producer, Gazprom, China’s imports of Russian natural gas through the Power of Siberia pipeline are set to have increased by at least 50% in 2022. On the other hand, China’s Russian crude oil imports increased by 10% on year in the initial 11 months at around 80 million tonnes. 

China’s trade with Russia decreased sharply in dollar terms in December, with exports increasing by 8.3% from the same month last year, down from November’s 17.9% rise, as per Reuters calculations based on Chinese customs information. No wonder China looks set to grow after Covid compared to the rest of the world.

Imports from Russia increased by 8.3%, decreasing from a 28.5% gain in November, as growth in Covid-19 infections following China’s sudden end to critical restrictions weighed on domestic demand.

But with the disorganisation of Beijing’s zero Covid policy, Russia and China are prepared toc continue mutual travel at the earliest opportunity and develop their strategic participation, as Zhang Hanhui, China’s ambassador, stated to Russia.





Other news

Most Recent Blogs View All Blogs

24 Jan

How Investment in Trade Finance Can Help SMEs Thrive?

A healthy trading system depends on the availability of finance. Up to 80% of current Global Trade F...

06 Jan

Why Is Supply Chains Transparency Essential To Speed Recovery

Greater transparency is expected to make worldwide trade and supply bind more dependable and guarant...

05 Jan

Why Is Reconceiving The Global Trade Finance Ecosystem Essential And How Is It Possible?

​Trade finance service helps to get cash and finance quickly, making the supply chain smoother. Th...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.