Russia doubled raw gold exports to China
Russia doubled raw gold exports to China
Russian companies doubled their exports of raw gold to China in October 2022 to 2.16 tons. We are talking about raw or semi-finished forms of gold. Deliveries in terms of money also doubled (up to $124.6 million). According to China’s February statistics, this is the largest shipment since at least 2016.
Gold imports from Russia to China doubled in physical terms in October compared to the same period last year, reaching 2.16 tons, according to the data of the General Administration of Customs of the People’s Republic of China, which analyzed RBC. In January-October 2022, imports of gold in unprocessed or semi-processed forms from Russia to China revealed 5.72 tons, which is 1.9 times more than in the same period last year.
The volume of probability in money increased by 1.8 times, to $330 million. But Moscow remains a supplier of the precious metal in the Chinese market: over the same period, Switzerland sent gold to China worth $26.5 billion, Canada – $9.7 billion, South Africa – by $7.7 billion, Australia – by $7.2 billion, Hong Kong – by $2.5 billion, Germany – by $775 million. In total, in 2021, according to the Federal Customs Service, Russia exported 302.17 tons gold. Of these, only 3.98 tons were delivered to China, according to the data of the PRC customs.