China Customs released data on December 15 that in the first 11 months of this year, the total value of bilateral trade between China and Russia was 8.4341 billion yuan, a year-on-year increase of 24%, exceeding the 2020 level for the whole year. Statistics show that from January to November, my country’s exports to Russia were 384.49 billion yuan, an increase of 21.9%; imports from Russia were 458.92 billion yuan, an increase of 25.9%.
According to statistics, more than 70% of the products imported from Russia are energy products and mineral products, of which coal and natural gas imports have grown rapidly. Among them, from January to November, China imported 298.72 billion yuan of energy products from Russia, an increase of 44.2%; metal ore and raw ore imports were 26.57 billion yuan, an increase of 21.7%, accounting for 70.9% of my country’s total imports from Russia during the same period. Among them, imported crude oil was 232.81 billion yuan, an increase of 30.9%; imported coal and lignite were 41.79 billion yuan, an increase of 171.3%; imported natural gas was 24.12 billion yuan, an increase of 74.8%; imported iron ore was 9.61 billion yuan, an increase of 2.6%. In terms of exports, my country exported 76.36 billion yuan of labor-intensive products to Russia, an increase of 2.2%.
The spokesperson of the Ministry of Commerce of China said at a regular press conference a few days ago that in the first 11 months, Sino-Russian bilateral trade mainly showed three bright spots: First, the scale of trade reached a record high. Calculated in U.S. dollars, from January to November this year, China-Russia trade in goods was 130.43 billion U.S. dollars, and it is expected to exceed 140 billion U.S. dollars for the whole year, setting a record high. China will maintain Russia’s largest trading partner status for 12 consecutive years. The second is the continuous optimization of the structure. In the first 10 months, Sino-Russian mechanical and electrical products trade volume was 33.68 billion U.S. dollars, an increase of 37.1%, accounting for 29.1% of bilateral trade volume, an increase of 2.2 percentage points over the same period last year; China’s auto and parts exports were 1.6 billion U.S. dollars, and exports to Russia were 2.1 billion. The US dollar increased significantly by 206% and 49%; imported beef from Russia was 15,000 tons, 3.4 times that of the same period last year. China has become the largest export destination of Russian beef. The third is the vigorous development of new business formats. Sino-Russian cross-border e-commerce cooperation has developed rapidly. The construction of Russia’s overseas warehouses and e-commerce platforms is progressing steadily, and the marketing and distribution networks have been continuously improved, which has promoted the continuous growth of bilateral trade.
Since the beginning of this year, under the strategic guidance of the two heads of state, China and Russia have actively overcome the impact of the epidemic and promoted bilateral trade to buck the trend. At the same time, agricultural trade continued to grow. Since the beginning of this year, China’s imports of rapeseed oil, barley and other agricultural products from Russia have increased significantly. Among them, from January to November, China imported 304,000 tons of rapeseed oil and mustard oil from Russia, an increase of 59.5%, and imported 75,000 tons of barley, an increase of 37.9 times. In October, COFCO imported 667 tons of wheat from Russia and arrived at the Heihe Port. This is China’s first large-scale import of wheat from the Russian Far East.
A spokesperson for the Ministry of Commerce of China stated that in the next step, China will continue to work closely with Russia to fully implement the consensus reached by the two heads of state, and promote the continuous improvement and growth of bilateral trade: First, integrate traditional energy, minerals, agriculture and forestry and other bulk commodities trade. ; The second is to expand new growth points such as digital economy, biomedicine, technological innovation, green and low-carbon, and promote the development of mechanical and electrical products, cross-border e-commerce and service trade; “Hard integration” China Unicom will enhance the level of trade facilitation; the fourth is to expand two-way investment and contract project cooperation to further promote trade growth.
Post time: Dec-23-2021