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China – Russia’s leading trade partner with mutual trade at about $50 bln in Jan-Jul

September 25, 2012, 20:16 UTC+3
The European Union plays an important role in the structure of Russia’s foreign trade as the country’s biggest economic partner
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, September 25 (Itar-Tass) —— China became Russia’s leading trade partner in the world upon the results of the first seven months of the year, the Federal Customs Service said in its regular report, adding that mutual trade increased by 10.9 percent in January-July 2012, as compared to the same period of 2011, and made up 49.8 billion U.S. dollars.

The Netherlands ranked second Russia’s trade partner in the world with bilateral trade at 49.3 billion U.S. dollars (31.1-percent growth versus January-July 2011), the document wrote, adding that Germany was the third trade partner of Russia with mutual trade at 49.3 billion U.S. dollars (9.3-percent increase).

In January-July 2012, the top three of Russia’s leading trade partners was followed by Italy with mutual trade turnover at 24.9 billion U.S. dollars (3.5-percent growth), Turkey with trade at 19.4 billion U.S. dollars (12.9-percent growth), Japan – 17.5 billion U.S. dollars (8.3-percent hike), the United States – 16.7 billion U.S. dollars (3.8-percent increase), Poland – 15.9 billion U.S. dollars (6.3-percent growth), France – 14.4 billion U.S. dollars (18.4-percent decline) and the Republic of Korea – 14.1 billion U.S. dollars (9.4-percent increase), the document underlined.

The European Union plays an important role in the structure of Russia’s foreign trade as the country’s biggest economic partner. In the period under review, 49 percent of Russia’s trade turnover accounted for the European Union, as compared to 48.6 percent in the first sevent months of 2011, the document wrote.

In January-July 2012, fourteen percent of Russia’s trade accounted for the countries of the Commonwealth of Independent States (versus 15.5 percent in 2011), seven percent – for the countries of the Customs Union (7.6 percent), 7.3 percent – for the countries of the Eurasian Economic Community (EurAsEC) (7.9 percent) and 24 percent – for the APEC countries (23.2 percent), the Federal Customs Service wrote in the report.

In January-July 2012, Russia foreign trade amounted to 475.5 billion U.S. dollars, the federal service reaffirmed.

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