China’s 2022 Trade With Russia Hits Record $190bn

As per the recent statement released by the government, China’s trade with Russia hit a record 1.28 trillion yuan ($190 billion) last year, even as Russia’s imports from the European association fell on sanctions connected to Moscow’s invasion of Ukraine.

China’s 2022 exports to and imports from Russia presented 3% of China’s total trade, as per the statement given by Lyu Daliang, spokesperson of the General Administration of Customs.

Not only this, but shipments of Chinese commodities to Russia have also increased for six months.

Additionally, Russia dramatically increased its rail exports of liquified petroleum gas to China last year, 2022 as part of the Kremlin’s drive to enhance its energy export sales, as per the Reuters analysis based on information collected from industry sources.

According to Russia’s leading producer, Gazprom, China’s imports of Russian natural gas through the Power of Siberia pipeline are set to have increased by at least 50% in 2022. On the other hand, China’s Russian crude oil imports increased by 10% on year in the initial 11 months at around 80 million tonnes.