beijingwalker
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26th March, 2023 18:44 IST
In an exclusive report by Sputnik, China's account trade surplus increased by 30% last year (2022), reaching an all-time high of $877.6 billion. Russia moved up to second position among big economies after increasing its surplus by 1.7 times over the course of the year to a record $333.4 billion. Saudi Arabia came in third with a $221.3 billion trade surplus, the most since 2012.
Canada was the country with the highest increase in trade surplus growth in 2022, with a 4.8-fold increase from $3.65 billion to $17.45 billion. At the same time, Nigeria was the only nation to turn its trade deficit into a surplus last year. 26 significant economies saw a trade surplus of $2.45 trillion in 2022 as opposed to 32 nations with $2.1 trillion the year before.
"Last year, mutual trade increased by almost a third - and approached $190 billion. I am convinced that already this year we will fulfill the task set by you (Chinese President Xi Jinping) and Russian President Vladimir Vladimirovich Putin, to bring trade to $200 billion," remarked Mikhail Mishustin.
Notwithstanding an unfriendly external environment, market volatility, and escalating Western sanctions, Mishustin claimed that trade and economic cooperation between Russia and China was progressing smoothly.
It represented the first instance of bilateral trade exceeding one trillion yuan. According to customs figures, exports from China to Russia increased 17.5 percent year over year, while imports from Russia increased 48.6 percent. The bilateral trade growth rate in 2021 was 26.6 percent; in 2022, it increased by 34.3 percent. Also, it was compared to a 7.7% expansion rate for China's whole foreign trade the previous year. Chinese and Russian authorities jointly set the target of $200 billion in bilateral commerce by 2024 in April of last year. The two nations are one step closer to reaching the milestone ahead of schedule based on last year's trade figures.
www.republicworld.com
China And Russia Become Trade Surplus Leaders In 2022
Russia's PM declared that Moscow and Beijing will double their bilateral commerce to $200 billion in 2023 during his meeting with the Chinese president.
In an exclusive report by Sputnik, China's account trade surplus increased by 30% last year (2022), reaching an all-time high of $877.6 billion. Russia moved up to second position among big economies after increasing its surplus by 1.7 times over the course of the year to a record $333.4 billion. Saudi Arabia came in third with a $221.3 billion trade surplus, the most since 2012.
Canada was the country with the highest increase in trade surplus growth in 2022, with a 4.8-fold increase from $3.65 billion to $17.45 billion. At the same time, Nigeria was the only nation to turn its trade deficit into a surplus last year. 26 significant economies saw a trade surplus of $2.45 trillion in 2022 as opposed to 32 nations with $2.1 trillion the year before.
Trade between Russia and China doubled in 2022
Russia's Prime Minister declared that Moscow and Beijing will double their bilateral commerce to $200 billion in 2023 during his meeting with Chinese president Xi Jinping."Last year, mutual trade increased by almost a third - and approached $190 billion. I am convinced that already this year we will fulfill the task set by you (Chinese President Xi Jinping) and Russian President Vladimir Vladimirovich Putin, to bring trade to $200 billion," remarked Mikhail Mishustin.
Notwithstanding an unfriendly external environment, market volatility, and escalating Western sanctions, Mishustin claimed that trade and economic cooperation between Russia and China was progressing smoothly.
China - Russia trade rises 34.3 per cent to $190 billion in 2022
As per data from the Chinese customs, bilateral trade between China and Russia increased 34.3 percent year over year to a historic highs of 1.28 trillion yuan ($190 billion) in yuan-denominated terms in 2022. This market growth is supported by better relations, a boom in energy cooperation, and a further unlocking of possibilities in parallel bilateral trade relationships between the two markets.It represented the first instance of bilateral trade exceeding one trillion yuan. According to customs figures, exports from China to Russia increased 17.5 percent year over year, while imports from Russia increased 48.6 percent. The bilateral trade growth rate in 2021 was 26.6 percent; in 2022, it increased by 34.3 percent. Also, it was compared to a 7.7% expansion rate for China's whole foreign trade the previous year. Chinese and Russian authorities jointly set the target of $200 billion in bilateral commerce by 2024 in April of last year. The two nations are one step closer to reaching the milestone ahead of schedule based on last year's trade figures.
China and Russia become trade surplus leaders in 2022
Russia's PM declared that Moscow and Beijing will double their bilateral commerce to $200 billion in 2023 during his meeting with the Chinese president.
www.republicworld.com
