Chinese exports to Russia almost recovered
Exports from China to Russia will soon peak before the start of special operations in Ukraine. Does this mean that Beijing is helping Moscow curb economic growth?
In August, Chinese goods worth $6 billion 700 million arrived in Russia. This is reported bloomberg with reference to the data of the Chinese customs service. In December of last year, the volume of exports reached 8 billion dollars a month, and in the spring it fell below 4 billion dollars. According to the agency, compared to June, the indicator increased by more than a third, and in annual terms by more than 20%.
Russian exports to China again exceeded the $10 billion mark in July, but were slightly short of the May record of $10 billion 200 million. According to Bloomberg, Chinese goods in Russia fill the niche left after the outflow of Western brands. According to the article, the share of Chinese automakers Great Wall Motor and Geely Holding in the Russian market has more than doubled compared to last year.
Is it possible to talk about Moscow’s economic assistance from Beijing? Orientalist and journalist Leonid Kovacic comments:
Leonid Kovacic orientalist and journalist
Even taking into account the recovery of Chinese exports to Russia, they are incomparable with the decline in trade turnover with consumption. In 2021 Russia bought in the EU goods and services worth almost $90 billion. By data European Commission, over the past six months, European exports to Russia have almost doubled. The main decline came in the supply of equipment and end-use goods. Yet trade ties with Russia are expanding with other countries taking a less hard line on the Ukraine crisis. In particular, trade is increasing in Turkey, India and Iran.