Trade between Russia, China widened to $51.9 bln in January-March — Moscow
MOSCOW, May 19. /TASS/. Trade between Russia and China grew by almost a quarter in the first three months of 2023, the Russian government said in materials distributed ahead of a visit by Prime Minister Mikhail Mishustin to China.
"In January-March 2023, trade widened by another 24.5% (from the same period in 2022) to $51.9 billion," the government said.
Earlier, Russian President Vladimir Putin said bilateral trade may exceed $200 billion this year.
Despite the unfavorable external situation, economic cooperation between Moscow and Beijing has been rapidly developing, and China remains Russia’s leading trade partner. According to the Russian government, "Bilateral trade grew by a third annually in the past two years to hit a record $185 billion in 2022.
Work is also underway to expand mutual access to agricultural markets. "Last year, agricultural trade increased 42% to $7 billion. In the first quarter of this year, exports to the Chinese market grew by another 91% (from last year) to $2.4 billion," the Russian government added.
The two countries are enhancing strategic partnership in energy. Also, the share of national currencies in bilateral payments for goods and services is rising.
