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Exports from Russia to China rise by 67.2% in January-April

The volume of bilateral commerce is expected to hit $200 bln by the end of 2023

MOSCOW, May 22. /TASS/. Russia's exports to China totaled $39.5 bln in the first four months of 2023, a 67.2% growth over the same time last year, President of Russia's Chamber of Commerce and Industry Sergey Katyrin told TASS.

"We are witnessing unprecedented dynamic growth in Russian-Chinese business ties and cooperation. Foreign trade statistic confirms the trend. Thus, exports from Russia to China were $39.5 bln (+67.2%) in January-April, while imports from China totaled $33.7 bln (+24.8%). Overall, trade increased by 41.3%, reaching $73.15 bln," he stated.

The volume of bilateral commerce is expected to hit $200 bln by the end of 2023. According to Chinese figures, mutual commerce would approach $190 bln in 2022 and $180 bln according to Russian forecasts, he added.

"The Intergovernmental Russian-Chinese Commission's portfolio includes 79 significant and promising projects. The overall declared volume of investments surpasses $160 bln - mostly, in mining and mineral processing, industrial production, infrastructure construction, and agriculture," Katyrin explained.

According to him, the busy calendar of business activities between the countries this year is another evidence of the countries' strong interest in developing bilateral practical cooperation, launching new joint ventures, and diversifying import-export fields

On May 23, Russia-China Business Forum will be held in Shanghai. It will be attended by top executives from Russia and China and will feature a speech by Russian Prime Minister Mikhail Mishustin.

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