Record-breaking trade between Russia and China : Analysis

Trade turnover between Russia and China has reached a historic high in November despite Western sanctions, according to Chinese customs data. Trade volumes between the two countries increased by 26.7% in the first 11 months of 2023, amounting to a record $218.17 billion. Exports from China to Russia jumped by 50.2% to $100.33 billion, while imports from Russia to China surged by 11.8% to $117.84 billion. Russia is now China’s fifth-largest trading partner, behind the US, EU, South Korea, and Japan. Russian First Deputy Prime Minister Andrey Belousov predicts that bilateral trade will grow to $300 billion by the end of the decade. This increase in trade cooperation is happening amidst Western sanctions imposed on Russia and trade disputes between Beijing and Washington

Source: RT news: Russia-China trade hits all-time high