Putin: trade turnover between Russia and China will exceed $200 billion by the end of the year

By the end of 2023, trade turnover between Russia and China will exceed $200 billion; in the 12 months from September 2022 to September 2022, this mark has already been reached. This was stated by Russian President Vladimir Putin at the beginning of negotiations with the Chinese delegation led by Chinese President Xi Jinping in an expanded format.

“You just mentioned our goal of achieving $200 billion in trade turnover this year. Now, if you look year by year, we analyzed it last night, from today a year ago – there is already $200 billion. And for the calendar year, this bar will definitely be surpassed,” said the head of state.

October 13, General Customs Administration of the People’s Republic of China published statistics according to which, based on the results of the nine months of 2023, the total volume of trade between Russia and China increased by 29.5% compared to the same period last year and amounted to $176.4 billion. In September alone, the volume of exports and imports amounted to $21.177 billion. Since the beginning In 2020, China exported goods worth about $81.427 billion to Russia, which is 56.9% more than in 2022. Supplies from Russia to China increased by 12.7% and reached $94.987 billion.

In March, Putin said that in 2022 the trade turnover between Russia and China has reached a historical record of $185 billion. “It is expected that this year Russia and China will not only reach a trade volume of $200 billion, which we agreed with our friends several years ago, but will also exceed this milestone,” he said.

The 3rd International Forum “One Belt, One Road” is taking place in Beijing on October 17-18. Russian President Vladimir Putin arrived in China for a two-day visit early on the morning of October 17. In addition to participating in the Belt and Road Forum and negotiations with President Xi Jinping, the Russian president has already held six bilateral meetings, including with Hungarian Prime Minister Viktor Orban. The theme of the current forum will be “High-quality cooperation within the framework of the One Belt, One Road”.