Trade between Russia and China set to exceed $100 billion

Trade between Russia and China set to exceed $100 billion

The circulation of goods between the two countries is showing stable growth and increased by one-third last year to reach $87 bln, according to the press centre of the Russian government in anticipation of Russian PM Dmitry Medvedev’s visit to China.

Statistics from this year’s first months show this positive trend is continuing. The quality and structure of trade improve as the volume of high-tech innovative goods supplied by both countries to one another grows. The volume of turnover between Russia and China is expected to surpass the $100 billion limit by the end of this year.

In the non-raw materials sector, the key areas for cooperation include projects in the nuclear energy, aviation, agricultural and industrial complex (in particular, a number of grains and oil-bearing crops are now permitted for export to China, including wheat, oats, buckwheat, flaxseed and sunflower). Chinese demand for Russian jewellery is also on the rise.

Over the next 15 years, the total volume of goods and services imported by China will exceed $40 trillion. This was stated by the president of the People’s Republic of China Xi Jinping at today’s opening ceremony of the China International Import Expo in Shanghai.