Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
growth of trade turnover China
Economy

The growth of trade turnover between Russia and China has reached record levels

01.02.2022
2 min read

Growth of trade turnover between Russia and neighboring countries

China is actively developing its economy, including through the expansion of production facilities. This requires large volumes of raw materials, which the country buys on the world market, including Russia. In this regard, analysts predict a growth of trade turnover between the states. It is expected to reach a record volume this year.
For some months the trade turnover between Russia and China has increased by almost 19% and reached $40.2 billion. This figure was a record for this period, it was twice as much as the results of trade interaction between the countries in 2016. China exported $18.2 billion worth of products to the neighboring country, while imports from Russia amounted to about $22 billion, an increase of 7.7% over the previous period. As for the difficult year of 2020, there was a 2.9% drop in trade turnover to $107.8 billion. By comparison, the figure in 2019 was $110.8 billion.
In 2021, trade relations between Russia and China significantly improved, primarily due to the demand for raw materials from Russia. At the same time, the countries are working with all their might to expand interactions, most notably by increasing investment from both Moscow and Beijing. In addition, over the past two years the states have actively cooperated in the framework of reducing the negative effects of the pandemic. For this purpose, various programs have been organized for the supply of medicines, equipment, personal protective equipment, as well as the exchange of experience.growth of trade turnoverIn addition to China, Russia is establishing trade relations with other countries. According to official statistics, trade turnover between Russia and Kazakhstan has recovered to the volumes of 2019. At the same time, the parties are not going to stop at the results achieved, and plan to increase exports and imports.
As representatives of Russia and Kazakhstan emphasize, the countries have great potential in such segments as renewable energy, industrial complex and agro-industrial complex. As part of strengthening cooperation, an agreement was signed that envisages an increase in interaction between the parties in the sphere of trade and economic relations. The document is valid until 2025.
An important point is investment in geological prospecting for further extraction of minerals. The works will be carried out on the territory of Kazakhstan and concern first of all oil and gas deposits, their exploration, evaluation and joint development.

Tags: Global Economy
0
Previous Post John Pierpont Morgan: Biography of the influential financier and entrepreneur Next Post Cloud services platform Qiniu plans IPO on NASDAQ

You Might Also Like

GDP of African countries
Economy
African GDP was able to withstand the coronavirus pandemic
18.03.2021
Oil war
Economy
The oil war between Russia and Saudi Arabia: causes and impact on the world economy
23.12.2020
Chinese authorities
Economy
The Chinese authorities decided to reduce duties for the U.S.
29.10.2020
Russian gas supplies
Economy
Turkey reduces Russian gas supplies: reasons
06.06.2021
volume of foreign trade
Economy
China’s foreign trade volume reached 13.3%
12.04.2022
The future of oil-2
Economy
The future of oil: how the industry will develop until 2026
27.01.2022

Recent Posts

  • 1guidelines for cryptocurrency exchanges
    Canada releases guidelines for cryptocurrency exchanges
    25.05.2022
  • 2How IT is used in banks
    How IT in banks helps transform the sector
    24.05.2022
  • 3Development of the financial sector-1
    Development of the financial sector in terms of DeFi potential
    23.05.2022
  • 4export volumes
    India’s export volumes rise to record levels
    22.05.2022
  • 5Ma Huaten
    Who is Ma Huateng: a professional history
    21.05.2022

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

guidelines for cryptocurrency exchanges
Canada releases guidelines for cryptocurrency exchanges
25.05.2022
How IT is used in banks
How IT in banks helps transform the sector
24.05.2022
Development of the financial sector-1
Development of the financial sector in terms of DeFi potential
23.05.2022

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.
  • Chaslau Koniukh: trade war with China and its risk for the world market
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics