CNN —Bilateral trade between Russia and China totaled more than $93.8 billion from January to May in 2023, a 40.7% increase compared to the same period last year, data from China’s General Administration of Customs showed.
The data published on Wednesday also showed that China’s exports to Russia have reached $42.96 billion since January 2023, a 75.6% increase compared to 2022.
The numbers of total trade values and total exports have seen their biggest jumps since the start of Russia’s invasion of Ukraine, with Russia becoming China’s fastest-growing trade partner in the world.
Taiwan, South Korea, New Zealand, and the US saw the biggest decrease across the globe, with Taiwan shrinking its trade with China by more than 25 percent.
Last month, Russian Prime Minister Mikhail Mishustin said he expected trade between Russia and China would exceed $200 billion in 2023, CNN reported.
Persons:
Mikhail Mishustin, Li Qiang, Mishustin, Xi Jinping, Vladimir Putin
Organizations:
CNN, Bilateral, China’s, Administration, Customs, Russian, Mishustin, Reuters
Locations:
Russia, China, Ukraine, Taiwan, South Korea, New Zealand, United States, Beijing