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Russia-China trade turnover falls by almost 30% in 2015

According to an expert, "the increase in trade with China will resume when China stabilizes its economy"

© ITAR-TASS/Yuri Smityuk

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Russian and Chinese customs authorities work closely to boost bilateral trade

BEIJING, January 13. /TASS/. Trade turnover between Russia and China plunged by 27.8% to $64.2 billion last year, China’s customs department spokesman Huang Songping said on Wednesday.

In 2014, the Russian-Chinese trade grew by 6.8% reaching $95.28 billion.

The exports of Chinese goods to Russia fell by 34.4% to $32.9 billion in 2015 and Russia’s imports to China were down 19.1% to $31.4 billion, according to the customs department.

"Last year was rather challenging and difficult for international trade. We believe this year will be the same to some degree. The improvement of the situation in the Russian-Chinese trade depends first of all on the economic environment in two countries and second, on the situation in the world in general," Huang Songping said.

Yevgeny Yasin, academic supervisor at Russia’s National Research University Higher School of Economics, said "the increase in trade with China will resume when China stabilizes its economy." "There was an extremely quick growth there. How long this could last? I always wondered. And now it has stopped," the former Russian economy minister told the Echo Moskvy radio station.

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