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Russian-Chinese trade estimated to reach $80 billion in 2017

BEIJING, June 14. /TASS/. Trade between Russia and China is estimated to increase to $80 billion this year, Russian deputy economic and trade minister Alexei Gruzdev told TASS on Wednesday.

The official said that bilateral trade "shows positive dynamics," with Russian exports to China being on the increase as well. He said that the growth is attributed not only to growing prices for oil and other natural resources, but also due to "increasing supplies of equipment and agricultural products" from Russia.

"If this tendency persists, then the target of $80 billion looks quite achievable," he said.

According to the Chinese customs service estimates, trade between Russia and China in 2016 grew by 2.2% year-on-year, to $69.52 billion. The figure increased by 26.1% year-on-year in the first five months of 2017 and currently stands at $32.3 billion.