Russia-China trade turnover soars nearly 25% since beginning of 2021

Russia-China trade turnover soars nearly 25% since beginning of 2021

According to the data, the total volume of trade between the two countries during the period amounted to $50.65 billion, marking year-on-year growth of 23.6%. In May alone, Russia-China trade turnover reached $10.449 billion.

Exports of Chinese goods to Russia increased by 35.3% to $22.921 billion, while imports of Russian products surged 15.4%, and reached $27.735 billion.

Mutual trade between the nations has returned to positive growth this year after pandemic-hit 2020 saw a nearly 3% year-on-year decline.

Last week, Russian President Vladimir Putin said that despite the economic disruptions caused by the coronavirus pandemic, trade between Russia and China still exceeded $100 billion, and reached $104 billion last year.

Putin added that Russia-China bilateral trade is expected to reach $200 billion by 2024.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

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