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China’s Russia Imports Soared in July and Exports Rebounded

Imports from Russia rose by 49% last month, while Chinese exports to Russia jumped by nearly a quarter, the latest customs data revealed


Bilateral trade between China and Russia continues to be strong, the latest data released by China shows.
Chinese exports to Russia jumped in July after several months of declines. This file photo by AFP shows Russian leader Vladimir Putin, left, meeting with his Chinese counterpart Xi Jinping in 2018.

 

Chinese imports from Russia soared in July and its exports to the nation rebounded, customs data showed.

Imports from Russia rose 49% in July, slower than a 56% gain in June and a nearly 80% rise in May. Exports to sanctions-hit Russia rose 22% in dollar terms, shaking off a 17% decline in June and marking the first growth since March, according to calculations based on China’s customs data released on Sunday.

Russia is a major source of oil, gas, coal and agricultural commodities for China.

Amid the ongoing Ukraine war, Russia was China’s biggest oil supplier in May and June as Chinese buyers cashed in on lower-priced supplies.

However, oil supplies loaded from the Russian ports to the China dropped to 21.3 million barrels in July, the lowest since February.

Russia invaded Ukraine on February 24, an intervention Moscow describes as a “special military operation”.

China has refused to condemn Russia’s actions and has criticized the sweeping Western sanctions on Moscow.

Beijing also says that it has not provided military assistance to Russia or Ukraine, but that it would take “necessary measures” to protect the rights of its companies.

 

  • Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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