Analytical statement and statistics on foreign trade between Russia and China for the first quarter of 2022.

06.23.2022

The General Administration of Customs (GAC) of the People’s Republic of China has summarized the results of Russian-Chinese trade in the first quarter of 2022.

Total trade was 38.17 billion dollars, showing an increase of 28.7% over the same period in 2021. Exports to Russia were 16.44 billion dollars (an increase of 25.9%) and imports from Russia were 21.73 billion dollars (an increase of 31%). Thus, Russia ranked 10th among China’s foreign trade partners, with a surplus of 5.29 billion dollars.

The situation in Russian-Chinese trade during the first quarter of 2022 was most affected by such factors as the fight against the COVID-19 pandemic, sanctions by Western countries against Russia and the threat of their secondary application to Chinese companies, price volatility on global commodity and raw materials markets, and fluctuations in demand for various types of resources in China.

Russian exports to China

According to data of the General Administration of Customs of the People’s Republic of China, Russian deliveries to China in value terms increased by 31.0% to 21.73 billion dollars as compared to the same period of 2021. Under the influence of the unstable foreign policy situation and notable fluctuations in energy prices, which are the basis of Russian exports to China, the main commodity groups are arranged in the following order:

 Item no. GN group No.  Name  Export volume (million dollars)
January - March 2022 
 Share in total exports (%)  Changes to the same period in 2021 (%)
 1 27  Mineral fuel, oil, petroleum products
   
16,170.7  74.4 52.16   
2 74-80    Non-ferrous metals

1,239.29    5.7 17.17   
3 44-48    Wood processing products
     
1,154.67    5.31 5.29
4 1-24    Agricultural and food products

1,146.86    5.28 35.41
5 26    Ores, slags, ashes
      
758.05    3.49 -23.11   
6 72 Ferrous metals

399.29    1.84    3.26   
7 31    Fertilizers
     
299.33    1.38    59.39   
8  28, 29,
38-40, 54, 55   
Products of chemical and related industries
     
247.81    1.14    -37.18   
9 71    Precious stones and metals
     
155.26 0.71    -62.45
     10 84-90    Machinery and equipment
     
95.55 0.44    -33.34
    Export, total      21,731.77      34.13   


Russian imports from China

According to the results of the first quarter of 2022, the value of Russian imports from China increased by 25.9% compared to the same period of 2021 and amounted to 16.44 billion dollars. There were no changes among the first four categories of supplies. The overall results were as follows:

Item No.  GN group No. Name  Export volume (million dollars)  Share in total imports (%)  Changes to the same period in 2021 (%) 
1 84-90  Machinery and equipment
   
9.218,64 56.07 30.59   
2 28, 29, 38-40, 54, 55    Products of the chemical and related industries

2,064.42 12.56    45.79
3 50-53, 56-63 Textile materials and products

917.01 5.58 -0.23
4 94-96 Miscellaneous industrial goods
   
809.54 4.92    5.58
5 72-73 Ferrous metals, products thereof

664.23 4.04 29.36
6 64-67 Shoes, hats, umbrellas, walking sticks

696.86 4.24 27.33
7 41-43 Unprocessed hides and leather (rawhide), natural fur and products thereof

202.03 1.23 -52.43
8    81-83 Other non-precious metals, metal-ceramics, products thereof

429.47 2.61 40.95   
9 1-24 Agricultural and food products

406.64 2.47    25.15   
10 68-70 Stone, gypsum, cement, asbestos, mica, ceramic products, glass

224.20    1.36    12.74   
11 74-80 Non-ferrous metals and products thereof

152.13 0.93    -8.12   
    Import, total
  
16,441.40   25.91

E-commerce

According to PRC statistics, B2B cross-border e-commerce with simplified declaration was 1.65 million dollars in the first quarter of 2022.

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