China’s foreign trade volume with Russia in January-May reached 93.8 billion dollars, which is 40.7% more than a year ago.
China’s exports to Russia in the first five months of 2023 grew by 75.6% compared to the same period last year and reached $42.9 billion. Imports grew 20.4% to $50.9 billion. This is in reference to the data of the General Administration of Customs of the People’s Republic of China. Ukrinform.
China’s foreign trade volume with Russia in January-May reached 93.8 billion dollars, which is 40.7% more than a year ago.
The total volume of China’s imports and exports in five months compared to the same period last year increased by 4.7% in local currency to 16.8 trillion yuan, but in dollar terms decreased by 2.8 % to 2.4 trillion. dollars.
In May, shipments abroad from China fell for the first time in three months, mainly due to a general decline in exports to its main trading partners – the countries of Southeast Asia (ASEAN ), European Union, United States and Japan. The biggest decline was in the export of electronic goods, as well as clothes and toys.
The decrease in imports is mainly due to low prices of crude oil and other resources, as well as low domestic demand in the country itself.
China’s top four trading partners this year include ASEAN countries, where China’s trade increased by 2.1% to $377 billion, the European Union with $332 billion in trade, down 3.7% compared to last last year. State of 274.7 billion dollars. (-12.3% year-on-year) and Japan – $131.3 billion. (-10.4%).
China’s export/import decline exacerbates experts’ concerns about the country’s economic recovery slowing on the back of economic slowdowns in key countries – China’s trading partners.
It was previously reported that China was “deeply alarmed” by the situation around the Kakhovskaya HPP.
Source: korrespondent
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